Canadian Online players...especially playing Party

[R*R]

Based on my extensive datamining of Party, Noble and Fulltilt this ongoing belief that party is the fishiest is completely untrue and is starting to become an old wives tale. Fulltilt has alot more table selection and is alot "fishier" than party if good table selection is done. Given this , the slow tables at party, and no rakeback it amazes me that people still play there.

[razarcrius]

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A couple of yrs ago a winning Candian online player was getting 1.3x exchange plus 30% rb from Party. Soon we'll be winning only 90cents on the dollar and no rb. Anyone thinking of quitting over this? I'm seriously thinking about it or at least playing very seldom. I know there are other sites with RB but it's just not as fishy as Party.

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Retard alert.

Unless you have not cashed out since 2001 this should have no impact on your bankroll.

[NL__Fool]

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Retard alert.

Unless you have not cashed out since 2001 this should have no impact on your bankroll

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Actually it does in a sense, maybe it doesn't directly effect your bankroll but it does directly effect the earn rate of a player.

I've been playing for a livng online for over 3 years now.
If I won 100K 3 years ago, that would be around 130k-140K Canadian with the exchange rate (forget about rakeback for now)

Today if I won 100K American I would only get $99,410 Canadian with the exchange rate currently been given by PokerStars.

If my hourly rate didn't change I just took a 30K-40K pay reduction.

For americans it makes absolutely no difference

Also it's not quite as easy as saying just move up and make more money as eventually everyone will hit a limit where you plateau. Thre will be a point where moving up makes no sense as your hourly rate is better at the lower limit you are at now.

This doesnt even include bonuses. I will hit the 500K milestone on Stars in about a week. 3 years ago that would have been worth $6,500 Canadian to me, at todays rates It will be worth $4,970

[1C5]

yes, it sucks for people in canada, but just think by not paying taxes, as if you would if you lived in other parts of the world, you save 30% of earnings or whatever.

[Kimo White Devil]

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yes, it sucks for people in canada, but just think by not paying taxes, as if you would if you lived in other parts of the world, you save 30% of earnings or whatever.

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Do you mean that a Canadian playing poker fulltime for a living does not pay taxes?

[R*R]

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yes, it sucks for people in canada, but just think by not paying taxes, as if you would if you lived in other parts of the world, you save 30% of earnings or whatever.

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Do you mean that a Canadian playing poker fulltime for a living does not pay taxes?

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Well jail is a great place to hone your skills. lol. I think somebody should be reading the Canadian tax thread to avoid this wonderful option.

[JOHNY CA$H]

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the exchange rate has nothing to do with anything -- it just means you're playing at slightly lower stakes than you used to be. (at least if you never have to deposit)

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If you are a winning player at a rate of 2BB/100 playing 10-20....then you're making 40 bucks an hour which used to be 50 bucks an hour Canadian. When the US drops to 90 cents then we will be making 36 an hour. Assuming 100 hds an hour. No?

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You're absolutely right, Canadian players are making less CDN $ on avg than we were 6 months ago. I think a lot of ppl are having trouble wrapping their heads around people in other countries trading in different currencies. The US $ profit is the same, but that equals a lot less in CDN $, and seeing as prices in Canada have yet to adjust, our real purchasing power has decreased.

[JOHNY CA$H]

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yes, it sucks for people in canada, but just think by not paying taxes, as if you would if you lived in other parts of the world, you save 30% of earnings or whatever.

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That'd be awesome, if we didn't have to pay taxes as well.

[Henry17]

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yes, it sucks for people in canada, but just think by not paying taxes, as if you would if you lived in other parts of the world, you save 30% of earnings or whatever.

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Do you mean that a Canadian playing poker fulltime for a living does not pay taxes?

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I know some that do and some that don't. The ones that do pay taxes do so either out of a moral duty or because they are very very risk adverse. If you remove any moral obligations and look at it simply as simple 2 x 2 game there is no reason to pay them.

[NL__Fool]

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If you remove any moral obligations and look at it simply as simple 2 x 2 game there is no reason to pay them.


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Except for those playing for a living and have poker as their sole source of income it is illegal not to pay taxes on your winnings in Canada

I went to 3 different accountants 3 years ago when I first started doing this because as I understod it was a very "grey area" but all 3 accountants said the same thing.

Basicly to sum it up it's not a grey area at all Poker winnings are taxable if it is your sole source of income.

I'd rather write a check for 25-30K each year and pay my taxes and avoid the possibility of not paying them for 6-7 years getting autided and then owing 400K in back taxes, penalties, interest possible jail time and whatever other crap they feel like tacking on.

I was autited once 6 years ago and they went thru my business books like a fine tooth comb. It was not a pleasent experience.