What Was Sam Farha Thinking?

[dcasper70]

At the beginning of the day, Sammy put $10k on MM to win at 72-1.


Ok, so I made that up... [img]/images/graemlins/laugh.gif[/img]

[canis582]

Sam thinks MM winning the WSOP made B&M games juicier and internet games much juicier. One of my acquaintances (who is an idiot) thought he was turning pro playing 20-40 in AC for awhile. Until he was out of money and out of a gf.

[Scorpion]

He sees you as a casual fan of poker. The only reason he would say this is to keep you and others interested in the game and to believe guys like you can beat the pros for cash. After all if moneymaker can do it why can't you?

[superleeds]

I think your theory's wrong. I like the 'he was pulling your chain' theory a lot better

[Rick Diesel]

As others have stated, it was made clear that there was no deal made. Moneymaker offered to chop evenly when he was a big chipleader, and Farha turned him down.

Also, as others have stated, you are required to pay taxes on all money that you earn, not paying taxes on the difference in the split would be tax evasion. Also, when prizes of this magnitude are split, the casino would present them with a W-2G for the amount they agreed to get, not the amount of the first and second place payouts.

Rick Diesel

[sekrah]

If the deal was completely secret and only Sammy and Chris knew.. they could do it..

Yes it would be Tax Evasion, but only 2 people in the world would know about it (Unless Chris opened his mouth).

Chris denying that there was a deal, doesn't mean jack crap.. he could easily be protecting Sam from federal prosecution, (and perhaps himself, Conspiracy to Committ).

[ibstudly1]

I dont think it matters if he let him win to get the fishes in the game. in 2004 an amutuers finished 1st and 2nd. i think he was yanking your chain. he probaly gets told the same thing a hundred times a day and likes to mix it up abit.

[michiganlaw]

[/ QUOTE ]

negative ghostrider, this would be tax evasion

[/ QUOTE ]

Explain to me your reasoning as to how this would be tax evasion, counselor? I can think of an obscure way in which this would be de minimus tax evasion; but what is the warrant for your claim?

Furthermore, these agreements happen ALL THE TIME, so either everyone is committing massive tax evasion, or its legal!

In fact, right after I met Farha at the Bellagio I went over to the Imperial Palace to play $3/$6. A guy sitting directly to my left told me (and the dealer confirmed this) that he entered a $500 buy in tourney at the IP last Saturday (not July 2nd) and he took second place (out of several hundred). He said the top six people made an agreement to split the money down the middle; and left $13,000 extra for an incentive for first place. They all walked away with $43,000 (roughly).

[ChrisAJ]

Would it matter to the IRS where someone places in a tournament? Wouldn't they just be interested in the actual winnings?

[Groty]

Have I got a deal for you!! You should make me on offer on my bridge that connects lower Manhattan with Brooklyn.