2011 WSOP Main Event

[89coupe]

Wow, they have absolutely ruined the main event with the new format.

They don't show the hole cards now until the play has finished, completely boring.

What loser made up this new rule.

:thumbsdow

[roopi]

Khoa Nguyen from Calgary sitting in 3rd place currently.

[89coupe]

I just realized that the program on right now is the live recording. The Main show will be televised next week starting from the beginning. Which will have the hole cards displayed. The only new rules I've heard about is the no talking to other players while in a hand and no logos from sponsors on display.

[max_boost]

Originally posted by roopi
Khoa Nguyen from Calgary sitting in 3rd place currently. That is awesome. :thumbsup:

[Mibz]

Why was the no talking rule implemented?

[kamakurakid]

I like the format, recording the event daily and zipping through the commercials. Might watch again when they display the complete cards, just might. The no talking rule is new to me, I might have missed the rule postings. I have to say it is rather boring compared to past seasons as there really is no talking at all. It is like watching a game online in this respect.

It is on TSN by the way or you can watch on ESPN 2 using a website like http://www.atdhenet.tv/

[dandia89]

Originally posted by Mibz
Why was the no talking rule implemented?
hellmuth probably cried too much

[Mibz]

Originally posted by dandia89

hellmuth probably cried too much I wanted to say exactly this but I haven't watched in over a year so I wasn't sure if it was still relevant :P

[kamakurakid]

Originally posted by dandia89

hellmuth probably cried too much

That was part of the entertainment, without it the shows are very tame and sterile.

[max_boost]

It was awesome to watch Phil hellmuth get pissed off haha

Anyway, I know khoa! Lol wtf unless my eyes are :nut: good for him. Haven't seen or chilled with him in years but that's awesome that he cashed in. $600k is sweet.

[kamakurakid]

Originally posted by max_boost
It was awesome to watch Phil hellmuth get pissed off haha

Anyway, I know khoa! Lol wtf unless my eyes are :nut: good for him. Haven't seen or chilled with him in years but that's awesome that he cashed in. $600k is sweet.

After taxes, what remains of the 600K still is not too bad. Good on him.

[403ep3]

I've been sick the past couple days so I have been following wsop. A lot of newer players in the top 25..

Go Calgary! Last I saw he was at 16 million

[colinxx235]

^

errr.... he busted... boost even said he cashed 600K

[CompletelyNumb]

Good pay day for 11th place

[Xtrema]

Originally posted by kamakurakid


After taxes, what remains of the 600K still is not too bad. Good on him.

taxes?

Canadian don't get taxed on gambling proceeds. Is WSOP event different?

No talking is lame but I guess it make the sport more professional? :dunno:

[colinxx235]

I think no talking in poker is stupid; It's part of the game (I refuse to call poker a sport). Dealing with discractions and also sometimes depending on how the person reacts to their surroundings can give away reads.

[redline]

Originally posted by Xtrema


taxes?

Canadian don't get taxed on gambling proceeds. Is WSOP event different?

No talking is lame but I guess it make the sport more professional? :dunno:

US taxes the money before you get to canada

[rage2]

Originally posted by redline
US taxes the money before you get to canada
And you can recover a large portion of it back. Of course that's only for gambling, I'm not sure if the WSOP tourney would be classified as such, since it's somewhat of a pro tourney.

In Canada, it's true you don't get taxed on gambling winnings, but if that's one of your sources of income, you get taxed on it. You're at the mercy of the CRA as to the classification of those earnings.

[BigDannyCool]

Originally posted by redline


US taxes the money before you get to canada

you have to file forms to get the money back i think

[sexualbanana]

From what I know (which isn't much), gambling income is not taxed unless, as rage2 said, it is your main source of income. But since Khoa is also an engineer, I don't think he'll get taxed on it.

The IRS is going to withold like 33% of his money, but he can file to get most, if not all, of it back. But it can take at least 6 months maybe longer if he decides to do it himself.

[beyond_ban]

That's why drug dealers who claim all of their "random" income is from gambling winnings always get busted for tax evasion.

[tenth]

Originally posted by sexualbanana
From what I know (which isn't much), gambling income is not taxed unless, as rage2 said, it is your main source of income. But since Khoa is also an engineer, I don't think he'll get taxed on it.
There's a few criteria, but generally it's reasonable expectation of profit, frequency, etc that they'll look at. So if you make healthy profits off gambling, even if it's not your primary source of income they can still get you for it.

Khoa has a little bit of history on the hendon mob and could play more at casinos/online, so there's definitely some risk that the CRA could challenge it. I'd definitely try to keep a good chunk of it semi-liquid for the next 3-4 years in the event the CRA decides to take a look at it.