2023 World Series of Poker
The 2023 World Series of Poker kicks off today with the Casino Employees event. It is the first of over 100 bracelet events being offered by the WSOP during the summer series. The WSOP decreased the lowest buy-in for a bracelet event ($333) and made a noticeable effort to increase the amount of satellites to many of the other bracelet events. This could lead to record-breaking fields, and payouts.
Before you make the trip, it may be helpful to familiarize yourself with the potential tax consequences surrounding your play. This will better prepare you for some of the countless tax situations that arise each summer.
I summarized some of the key considerations in an article for Cardplayer Lifestyle, including:
Update on $500 WSOP lammers
New satellite payout policy
Individual Taxpayer Identification Number (ITIN) issues
Selling, swapping or buying action
Overall best practices around tracking your play