The 2023 World Series Of Poker (WSOP) attracted a record number of players. The Main Event amassed a whopping $93.3 million prize pool, the largest prize pool in live tournament history.
From May 30 to July 18, poker players from around the world battled wits and tested their luck at the Horseshoe and Paris, the two Las Vegas casinos that hosted the tournament series.
Throughout the WSOP, we witnessed some incredible performances. The lucky winners who took home a bracelet need to have the right team behind them. An experienced accounting firm like Kondler & Associates, CPAs, can help manage your winnings so they aren’t lost to excess taxes or other financial mistakes.
Our team understands how to navigate complex IRS regulations and maximize the cash you end up with. The WSOP is an amazing experience for players, and we want to make sure those who have achieved success at the table walk away with something to show for it.
2023 WSOP Highlights
After nearly two months of whirlwind play, the 2023 WSOP is officially over. The last hand was dealt on July 18. Some of the event’s biggest winners were:
- Event #40: $250,000 Super High Roller: Chris Brewer, USA, $5,293,556
- Event #29: $100,000 High Roller: Jans Arends, Netherlands, $2,576,729
- Event #2: $25,000 High Roller (6-Handed): Alexandre Vuilleumier, Switzerland, $1,215,864
Big buy-in tournaments are where millionaires are made, but winners at smaller stake events took home hefty amounts too. Notable wins include:
- Event #3: $1,000 Mystery Millions: Tyler Brown, USA, $1,000,000
- Event #65: $5,000 No-Limit Hold’em (6-Handed): Weiran Pu, China, $938,244
- Event #59: $3,000 No-Limit Hold’em Freezeout: Robert Schulz, Germany, $675,275
Prize pool: $93,399,900
Places paid: 1,507
The main event began on July 3. History was made on Day 1 when 10,043 players entered the tournament, the largest number in the tournament’s 53 years.
“Poker is back, and it never went anywhere,” said WSOP Senior Vice President and Executive Director, Ty Stewart. “Establishing records all summer long and crossing the unthinkable 10,000 entry mark is huge not just for the WSOP but for the game itself.”
The huge entry field included well-known names such as Guy Fieri and Las Vegas Aces star Kelsey Plum, but it was poker pro Daniel Weinman who took home the bracelet and $12,100,000. Weinman’s played in WSOP events for the past 16 years.
“The Boom happened and I kind of had think inkling that I would play poker and give it a shot for a few years. And here we are 16 years later … You just kind of feel like, maybe it’s my time,” Weinman told poker media.
Ultimately, nine players competed at the televised final table. Here are the payouts:
1) Daniel Weinman: United States, $12,100,000
2) Steven Jones: United States, $6,500,000
3) Adam Walton: United States, $4,000,000
4) Jan-Peter Jachtmann: Germany, $3,000,000
5) Ruslan Prydryk: Ukraine, $2,400,000
6) Dean Hutchison: Scotland, $1,850,000
7) Toby Lewis: England, $1,425,000
8) Juan Maceiras: Spain, $1,125,000
9) Daniel Holzner: Italy, $900,000
Understanding the Tax Implications
Winners at the 2023 World Series of Poker have earned their place in poker history. But with these large sums come added responsibility and unexpected costs.
U.S. law states that all income derived from gambling is taxable. Depending on where you live and play, you may be required to pay federal and state taxes. The amount you owe can grow quite large if not dealt with correctly.
We’re experienced in helping WSOP winners manage their winnings so they don’t incur an unexpected tax liability. Our expert team understands the complexities that come with winning a major tournament and will help ensure your taxes are taken care of.
Take Charge of Your Financial Future
The 2023 WSOP is an extraordinary achievement for players. Don’t let taxes and other financial concerns take away from the joy of your victory. Let Kondler & Associates, CPAs help you manage your winnings so you can enjoy the rewards of your hard work.
Whether you’ve won millions or a few thousands, we can help you maximize your earnings and ensure a secure financial future. Contact our team today to get professional advice from the experts. We’ll make sure you receive the full benefits of your WSOP winnings without any surprises.