WSOP Day 2: "Official" Results, News & Discussion - Page 15

disjunction · #**141** 07-10-2005, 11:22 PM

[ QUOTE ]
[ QUOTE ]
"Pro" has less and less meaning these days. Just what is a pro? A tournament name or someone who actually makes money playing online?

After a big tournament win, the casino takes 6% and the government takes >40% when you include state and local. So all but the very best American tournament pros are chumps. Doesn't matter if the fields are weak (and they are for sure) - very few players can overcome a near-50% vig.

Matt

[/ QUOTE ]

It's too bad I've already handed out my stupidest post ever award.

[/ QUOTE ]

I probably don't agree with the post because there may be a large percentage of terrible players in the field, but it's not a stupid point.

I more or less meant "name-pros", people whose name I'd recognize, but not including people like Mattias Anderssen. Players who have been named as pros by the very smart poker authorities such as Vince Van Patten or Norman Chad or Cardplayer Magazine.

paperboyNC · #**142** 07-10-2005, 11:30 PM

[ QUOTE ]
After a big tournament win, the casino takes 6% and the government takes >40% when you include state and local. So all but the very best American tournament pros are chumps. Doesn't matter if the fields are weak (and they are for sure) - very few players can overcome a near-50% vig.

Matt

[/ QUOTE ]

Taxes are irrelevant for 2 reasons:

A) If a pro plays 200 tournaments a year and only wins one (the WSOP), he can write offs the entry fees from the rest of the tournaments. So if his average buy-in was 5,000 - he can subtract the 1,000,000 from his profit.

B) Everyone pays income tax including cash game players, online players and people that work regular jobs.

While it is true that it's easier to not report regular small winnings to the IRS, you end up breaking the law.

AceHigh · #**143** 07-10-2005, 11:42 PM

[ QUOTE ]
Does anybody have an idea of how many name-pros there are?

[/ QUOTE ]

I would suspect that nearly 100% of the pro's have names.

Acesover8s · #**144** 07-10-2005, 11:47 PM

[ QUOTE ]
A) If a pro plays 200 tournaments a year and only wins one (the WSOP), he can write offs the entry fees from the rest of the tournaments. So if his average buy-in was 5,000 - he can subtract the 1,000,000 from his profit.

[/ QUOTE ]

If a 'pro' plays 200 tournaments a year there is no way the average buy in would be 5k, as there are only a fistful of tournaments with buyins over that amount.

[ QUOTE ]
B) Everyone pays income tax including cash game players

[/ QUOTE ]

Like blanket statements much?

Bartman387 · #**145** 07-10-2005, 11:54 PM

[ QUOTE ]
[ QUOTE ]
B) Everyone pays income tax including cash game players

[/ QUOTE ]

Like blanket statements much?

[/ QUOTE ]

I was under the impression that everyone paid taxes. Well, except people who get arrested for tax evasion

Kevmath · #**146** 07-10-2005, 11:59 PM

Gavin Griffin up to 90k (pokertrails.com)

The field should be able to get to the money, unless things really slow to a crawl in the next level and a half.

Kevin...

disjunction · #**147** 07-11-2005, 12:00 AM

[ QUOTE ]
[ QUOTE ]
Does anybody have an idea of how many name-pros there are?

[/ QUOTE ]

I would suspect that nearly 100% of the pro's have names.

[/ QUOTE ]

So you don't really know for sure. I was looking for a definitive answer.

Quake1028 · #**148** 07-11-2005, 12:03 AM

Olga Varkonyi $290,000

chim17 · #**149** 07-11-2005, 12:04 AM

[ QUOTE ]
At table 47, following a flop of Kd-10d-7h, the player in seat #1 pushed all in. The player in seat #3 called, which forced him all in, and Chris short called as well. The player in seat #1 turned over K-10, showing top two pair. Both the player in seat #3 and Chris Short turned over A-J, on straight draws. However, Chris Short held the Ace and Jack of diamonds. Short stood up and called out for the Queen of diamonds. Sure enough, the Queen of diamonds came on the turn, giving the player in seat #3 a broadway straight, but at the same time giving Short the royal flush. Chris Short nearly tripled up to $180,000.

[/ QUOTE ]

mpitts · #**150** 07-11-2005, 12:16 AM

Gavin Griffin Eliminated

With the board showing K-5-2-2-4 with four diamonds, Gavin Griffin and Hunter Tappas get all of their money in the middle. Tappas showed Ad-Kd for the ace high flush. After seeing the ace of diamonds, Griffin mucked his hand. Griffin started the hand with $87,000 in chips, and lost it all to Tappas' flush. Gavin Griffin is eliminated early in Level 11.