WSOP Rules: Show One & Backing

[Russ Fox]

The WSOP has posted their rules. On the good side, the F-Bomb rule has been modified. However, two new rules warrant some discussion.

First, Rule 84 states, "At the end of a hand, if a player exposes one hole card, he or she must also show the other hole card if asked to do so by any player." So I guess I won't be showing an ace or a 7 or whatever during any WSOP event.

Second, Harrah's is interpreting their Rule 7 ("Winners are responsible for payment of any and all taxes, licenses, registrations and other fees associated with tournament registration and winnings.") so that they will issue one W-2G only for every cash, to the actual winner (I spoke to the Assistant Tournament Director who told me this). Thus, if you are backed, you will have to prepare W-2Gs or 1099-MISCs at the end of the year for your backers. And if you're a Canadian or other foreigner, you won't be able to "sell" your win to an American so that you don't have to deal with the withholding.

-- Russ Fox