Canada should host WSOP and more...eventually!
 

Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

Re: Canada should host WSOP and more...eventually!
 

WPT Niagara is a few weeks away, drink up boys =)

Re: Canada should host WSOP and more...eventually!
 

Really poker is dead. Thats funny because everytime i go to the casino the poker rooms by me are fulled all the time.

Re: Canada should host WSOP and more...eventually!
 

I seriously doubt that any Canadian city are able to attract as many people to the WSOP as Las Vegas does. What major gambling cities are in Canada?

Re: Canada should host WSOP and more...eventually!
 

The money is still taxable for US citizens even though the money is awarded in Canada.

Re: Canada should host WSOP and more...eventually!
 

Having the WSOP main event outside of Vegas is like having the AFL grand final outside of Melbourne, its just not right.

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

[/ QUOTE ]

First of all the US is not increasing the taxes on poker winnings. The IRS under Code 3402(q) requires any winnings $5000 over the buy in fee for a poker tournament have a withholding of 25%.

Poker winnings have always been taxable(any income is taxable). If you think you are going to win the main event and walk away with 7 million and not pay taxes..think again.

It matters not where you win it either when it comes to taxes owed.

Example you enter the main event and just make the money and say you win $12000, you wil have nothing withheld as it does not exceed your buy in fee by $5000 or more. $12000-$10000= $2000.

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
Having the WSOP main event outside of Vegas is like having the AFL grand final outside of Melbourne, its just not right.

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Because the A in AFL stands for Australian and the W in WSOP stands for American?

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

[/ QUOTE ]

First of all the US is not increasing the taxes on poker winnings. The IRS under Code 3402(q) requires any winnings $5000 over the buy in fee for a poker tournament have a withholding of 25%.

Poker winnings have always been taxable(any income is taxable). If you think you are going to win the main event and walk away with 7 million and not pay taxes..think again.

It matters not where you win it either when it comes to taxes owed.

Example you enter the main event and just make the money and say you win $12000, you wil have nothing withheld as it does not exceed your buy in fee by $5000 or more. $12000-$10000= $2000.

[/ QUOTE ]

If i win $7million at the wsop, and am from UK, do i take home all $7million?

Re: Canada should host WSOP and more...eventually!
 

www.google.com

its a wonderful thing

Re: Canada should host WSOP and more...eventually!
 

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What major gambling cities are in Canada?

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Ahh, I can see it now. The WSOP live from...Winnipeg? [img]/images/graemlins/confused.gif[/img]

Re: Canada should host WSOP and more...eventually!
 

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Having the WSOP main event outside of Vegas is like having the AFL grand final outside of Melbourne, its just not right.

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sorry, the WHAT???!?!

Re: Canada should host WSOP and more...eventually!
 

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[ QUOTE ]
[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

[/ QUOTE ]

First of all the US is not increasing the taxes on poker winnings. The IRS under Code 3402(q) requires any winnings $5000 over the buy in fee for a poker tournament have a withholding of 25%.

Poker winnings have always been taxable(any income is taxable). If you think you are going to win the main event and walk away with 7 million and not pay taxes..think again.

It matters not where you win it either when it comes to taxes owed.

Example you enter the main event and just make the money and say you win $12000, you wil have nothing withheld as it does not exceed your buy in fee by $5000 or more. $12000-$10000= $2000.

[/ QUOTE ]

If i win $7million at the wsop, and am from UK, do i take home all $7million?

[/ QUOTE ]

In the UK and Canada if you win any prize you pay no tax...in Canada we can file and get back approx. 50% of the tax we paid in Nevada. But as far as Canada hosting WSOP wouldn't be a bad idea and no one would be taxed until they returned back to USA or other taxing country.

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

[/ QUOTE ]

First of all the US is not increasing the taxes on poker winnings. The IRS under Code 3402(q) requires any winnings $5000 over the buy in fee for a poker tournament have a withholding of 25%.

Poker winnings have always been taxable(any income is taxable). If you think you are going to win the main event and walk away with 7 million and not pay taxes..think again.

It matters not where you win it either when it comes to taxes owed.

Example you enter the main event and just make the money and say you win $12000, you wil have nothing withheld as it does not exceed your buy in fee by $5000 or more. $12000-$10000= $2000.

[/ QUOTE ]

If i win $7million at the wsop, and am from UK, do i take home all $7million?

[/ QUOTE ]

In the UK and Canada if you win any prize you pay no tax...in Canada we can file and get back approx. 50% of the tax we paid in Nevada. But as far as Canada hosting WSOP wouldn't be a bad idea and no one would be taxed until they returned back to USA or other taxing country.

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So your suggesting we move the wsop to Canada so the winner can defer his taxes for a few months. LOL

Re: Canada should host WSOP and more...eventually!
 

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Really poker is dead. Thats funny because everytime i go to the casino the poker rooms by me are fulled all the time.

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Yes because most of the poker player are losing players, so if the are taxes 15%, 28% or 96% on poker winning's they don't care, because they donot have wins to declare at the end of the year.

When they become winning player, then, they should move to Canada !

- jpp

Re: Canada should host WSOP and more...eventually!
 

NO

Re: Canada should host WSOP and more...eventually!
 

WSOP in Canada hahahahahhahahah silly canadians

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

[/ QUOTE ]

First of all the US is not increasing the taxes on poker winnings. The IRS under Code 3402(q) requires any winnings $5000 over the buy in fee for a poker tournament have a withholding of 25%.

Poker winnings have always been taxable(any income is taxable). If you think you are going to win the main event and walk away with 7 million and not pay taxes..think again.

It matters not where you win it either when it comes to taxes owed.

Example you enter the main event and just make the money and say you win $12000, you wil have nothing withheld as it does not exceed your buy in fee by $5000 or more. $12000-$10000= $2000.

[/ QUOTE ]

If i win $7million at the wsop, and am from UK, do i take home all $7million?

[/ QUOTE ]

No, you will have 25% taxed right off the top like the rest of us. You will have to work with your accountant to get the rest of it.

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

[/ QUOTE ]

Welcome and thanks for the post. Most of the tax issues have been covered. Moving the WSOP does nothing to change the tax obligations.

You may want to focus on the other benefits of having the WSOP in Canada. For example, where can 6000+ poker players stay and play while in Canada? Is there a gambling mecca for Canada that can deal with all the action. Remember, in addition to the WSOP this past summer, we had three other series of poker tournaments running in Vegas at the same time. Can Canada accomodate that kind of action?

Re: Canada should host WSOP and more...eventually!
 

No, Canada should host AIDS

Re: Canada should host WSOP and more...eventually!
 

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WSOP in Canada hahahahahhahahah silly canadians

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Having to pay 40% on yur winnings in the US? hahahahahahahha silly yanks

Re: Canada should host WSOP and more...eventually!
 

I dunno why you all have to be so dismissive. It's a good idea. It's aboot time Canada got some recognition for it's vast array of cultural, um... see, I can't even come up with a proper term, as a vulgar uncultured American.

Re: Canada should host WSOP and more...eventually!
 

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Ahh, I can see it now. The WSOP live from...Winnipeg? [img]/images/graemlins/confused.gif[/img]

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haha this would be awesome, only cos i live 2 hours from there

Re: Canada should host WSOP and more...eventually!
 

Great response. Interesting to read everyones points of view.
My idea was just for the future possibly and obviously it's no way near to what Las Vegas can offer at the moment, but if poker continues it's downfall in the U.S. people will obviously look for an alternative and Canada I think could be perfect with the right investments and people behind it.
If there's any billionaires reading...do it [img]/images/graemlins/smile.gif[/img]!

Andy

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
Great response. Interesting to read everyones points of view.
My idea was just for the future possibly and obviously it's no way near to what Las Vegas can offer at the moment, but if poker continues it's downfall in the U.S. people will obviously look for an alternative and Canada I think could be perfect with the right investments and people behind it.
If there's any billionaires reading...do it [img]/images/graemlins/smile.gif[/img]!

The guy that owns Cirque Solei (s) has said he was interested in starting a major event in Canada and he def has the money along with Rene Angile (s) Celine Dions manager as her Vegas run is up and they are heading back to Canada.

Andy

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Re: Canada should host WSOP and more...eventually!
 

So US poker is dying and Canadian poker is soon to overtake it? What is the state of poker in Canada compared to the US? Has the growth in Canada in the recent years been larger than in the US? What advantages are there of having the WSOP in Canada compared to having it in Las Vegas? Since you need lots of hotels and areas for the gaming, what parts of Canada would be able to attract the numbers of gamblers that you need all year round to support the structures that is needed for WSOP? Will the travel distance for the majority of the players significantly increase?

Re: Canada should host WSOP and more...eventually!
 

[ QUOTE ]
Hey,

I was thinking since the U.S. plans to increase tax on tournament wins and for the time being the future for poker in the U.S. looks pretty much dead. Why not try and host many poker tourneys as well as the WSOP. If the money is tax free then surely this has to be considered?

Just an idea. First post but been reading the forums for quite a while.

p.s. grammar/spelling probably way off as I had a few too many watching the leafs hockey game.

Andy

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the united states can kiss my ass. uncle sam raping us for 1/3rd of winnings is borderline extortion.

Re: Canada should host WSOP and more...eventually!
 

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So US poker is dying and Canadian poker is soon to overtake it? What is the state of poker in Canada compared to the US? Has the growth in Canada in the recent years been larger than in the US? What advantages are there of having the WSOP in Canada compared to having it in Las Vegas? Since you need lots of hotels and areas for the gaming, what parts of Canada would be able to attract the numbers of gamblers that you need all year round to support the structures that is needed for WSOP? Will the travel distance for the majority of the players significantly increase?

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I never said anything about the players, it's all about the politics that are making it harder and harder to play and make a living in the U.S. Canada has actually been having a huge boom, obviously there are more U.S. Poker players. I think having poker in Canada in the future could be beneficial for the U.S. poker players in many ways. Obviously the tax issues etc could make a huge difference and also the fact that in Canada it's only 19 to be of age. This could see a huge amount of keen young guns giving it a shot and see some huge wizards as seen at the WSOPE play.

Seeing as Canada is absolutely huge there are multiple places that could be realistic candidates. Niagara/Toronto are the first choices but I am sure there are a huge number of places that could potentially do it.

I don't think the travel aspect would increase significantly as it's still within North America and if for example Toronto was a venue or even surrounding areas. That's an extra hour/hour and a half flying time than if your flying to New York. If you think about the difference when having to travel to Europe or Australia, the difference is huge!

It's just an idea and I just thought was interesting to see peoples points of view.

Andy

Re: Canada should host WSOP and more...eventually!
 

Whatever you want to say about this subject. I do feel the WSOPE will overtake the WSOP in the near future.

Re: Canada should host WSOP and more...eventually!
 

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Whatever you want to say about this subject. I do feel the WSOPE will overtake the WSOP in the near future.

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Care to elaborate? Gut feeling or do you really feel that WSOPE can expect the influx of poker players from the States on a scale of the influx of poker players to Vegas from the rest of the world. I'm not opining either way and quite honestly, did not follow one moment of the WSOPE so I have no idea of field sizes or if they even managed to come close to the 50+ events held at the Rio.