2023 WSOP Main Event Tax Bill for the Final Table Players

The 2023 World Series of Poker Main Event final table saw players from various countries for the biggest title in poker and a massive amount of prize money. But what about the tax these players will be having to pay when they arrive home after a gruelling summer?

The tax payment owed varied significantly depending on the players’ country of residence. The final table at the 2023 WSOP Main Event had a total prize pool of $93,399,900 , with an estimated $11,575,951 paid in taxes to four national and three state governments. Some players were fortunate enough to pay no taxes, while others faced tax rates as high as 47%.

The top three finishers at the final table were all Americans from different states, which led to slightly different tax bills for each of them. Daniel Weinman, the winner of the tournament, took home $12,100,000 in prize money but had to pay $5,130,321 in taxes, leaving him with $6,969,679. That;’s quite a hit!

Steven Jones, who finished second, won $6,500,000 and paid $2,653,860 in taxes, resulting in a net prize of $3,846,140. Adam Walton, busted in third place and won $4,000,000, but he also paid $1,557,986 worth of tax, leaving him with only $2,442,014.

But just like we see every year, some players at the final table did not have to pay any taxes at all on their winnings. Jan-Peter Jachtmann from Germany, who finished fourth, took home his entire prize of $3,000,000 without any tax deductions. It has been pointed out, however, that the “Rennwett und Lotteriesteuer” legislation could end up cutting his payment in half!

The tax implications for poker players can be quite complex, as they depend on various factors such as the player's country of residence, tax treaties between countries, and individual tax situations. It is crucial for poker players to be aware of their tax obligations and consult with tax professionals to ensure they are in compliance with the relevant tax laws.

One place on the planet that is lauded every year around this time is the United Kingdom where no gambling taxes are levied on poker players. Toby Lewis and Dean Hutchison will be arriving home with every cent of their prize money intact.

The total amount of prize money won at this year’s WSOP Main Event final table was $33,300,000 and there will be an expected tax bill of $11,575,951 waiting for the players when they arrive home.

Ouch!!

2023 WSOP Main Event Final Prize Money After Tax