Half of Ben Lamb's WSOP Prize Paid to Taxes

Poker Players | estimated reading time
2011. November 13. |
While Pius Heinz and Sam Holden keep all of their World Series of Poker (WSOP) winnings, the others will have to pay a huge amount to taxes.  Ben Lamb and Eoghan O'Dea are the biggest losers.
According to the German-American agreement on taxes, the newest poker world champion, Pius Heinz can keep all his WSOP Main Event winnings of $8,715,638 withouth having to pay any taxes. This agreement states that he doesn't have to pay taxes in the USA as a German citizen, neither he has to in his hometown, Vienna, Austria.

Pius Heinz with the millions of dollars
Pius Heinz with the millions of dollars

The Czech Martin Staszko won $5,433,086, which, according to the Czech-American agreement, he doesn't have to pay in the States, however, he has to in the Czech Republic. He has to pay 15% of his winnings, which is $814,963, a quite nice sum.

The biggest loser in this taxation case is the WSOP Main Event's 3rd place, Ben Lamb. He took home $4,021,038, from which he will pay $1,524,011 to taxes, plus he will have to pay $241,268 to Oklahoma state.

The second biggest loser is the 6th place finisher Eoghan O'Dea. The Irish player won $1,720,396, which is tax-free in the United States, but he has to pay an enormous amount according to Irish rules. They state that professional poker players (amateur player's winnings are tax-free) have to pay 20% taxes after the first €36,400 won, any winning above that entails a 41% tax. O'Dea's tax is therefore $695,018.

WSOP Main Event winnings, and what is left of it after taxes:

1. Pius Heinz --> $8.715.638 --> $8.715.638
2. Martin Stazko  --> $5.433.086  --> $4.618.123
3. Ben Lamb  --> $4.021.138  --> $2.255.859
4. Matt Giannetti  --> $3.012.700  --> $1.964.058
5. Phil Collins  --> $2.269.599  --> $1.417.119
6. Eoghan O’Dea  --> $1.720.831  --> $1.025.813
7. Bob Bounahra  --> $1.314.097  --> $919.868
8. Anton Makiievskyi  --> $1.010.015  --> $838.359
9. Sam Holden  --> $782.115  --> $782.115


All winnings  --> $28.279.219  --> $22.536.952

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