Making $12.1M from $10K

-https://www.usatoday.com/story/sports/poker/2023/…

“From a record-setting field of more than 10,000 players, Atlanta's Daniel Weinman emerged victorious Monday at the World Series of Poker in Las Vegas, taking home $12.1 million and the coveted championship bracelet.

Weinman needed just 164 hands at the final table to win the Main Event in his 16th attempt, one that he strongly considered skipping.

This year's event began with 10,043 players vying for a total purse of $93.39 million, the highest total in history for a live poker event.

Steven Jones finished second behind Weinman, winning $6.5 million. Adam Walton finished third, collecting $4 million.“


 

The dream.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Was his buy-in just 10k? Because the article says 10k players. 

"The obedient always think of themselves as virtuous rather than cowardly" - Robert A. Wilson | "If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

PrivateTechquity 🚀GME+BBBYQ🧸

Was his buy-in just 10k? Because the article says 10k players. 

Yeah it is $10K buy in x 10,043 players = $100.43M minus tournament fees = $93.39M total purse. Buy in has been $10K since 1972.

The top 1,507 places were paid, with a minimum cash of $15,000.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

That's sick! 

"The obedient always think of themselves as virtuous rather than cowardly" - Robert A. Wilson | "If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

The 2023 Main Event Bracelet for the winner:

The Mayor of Flavortown Guy Fieri Debuts the 2023 World Series of Poker® Main Event Bracelet | Business Wire

"Considered the richest trophy in sports, the 2023 Main Event gold bracelet is custom-made by Jostens featuring approximately 500 grams of 10-karat yellow gold, 2,352 various precious gemstones, including 42 carats of round genuine diamonds, 425 black and red stones to accentuate the suits, and a removable golden poker chip that sits in the center of the bracelet. This year’s bracelet also features a special horseshoe incorporated into the design as a tribute to the WSOP’s return to the newly rebranded Horseshoe Las Vegas."

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
Most Helpful

"US residents are taxed at 24 percent on any winnings exceeding $5,000. This is the federal tax, and it is withheld automatically, while winners still have an obligation to report and pay the state tax on their own."

Taxes & Rake In The WSOP – How Much Tax Do You Pay On Winnings? (casino.org)

As a pro poker player, it is beneficial to live in certain countries:

For example, the 2014 WSOP Main Event runner-up Felix Stephenson won $5.1 million for his efforts. But, being from Norway and listing his occupation as a professional poker player, he had to pay taxes in excess of 50 percent.

Martin Jacobson, the fellow pro who defeated Stephenson in the heads-up skirmish, won $10 million. Originally from Sweden, Jacobson had already been living in the UK for a long time, meaning he would be taxed according to the UK laws.

So, how much did Jacobson had to give up of his eight-figure win? The answer is zero! In the UK, poker winnings are not taxable, so Martin got to keep the entire sum.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Taxes suck ass

"The obedient always think of themselves as virtuous rather than cowardly" - Robert A. Wilson | "If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

A lot of poker pros say that this event is one of the softest tournaments to play.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Honestly, it is an endurance competition to win this event. You have to survive so many days of playing sharp and not losing it. All day for days.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

How many days and how does one qualify? Would love to make a run at it sometime

"The obedient always think of themselves as virtuous rather than cowardly" - Robert A. Wilson | "If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 

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"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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