What Winning $250k at Poker Taught Me About Money
1–10 of 136 posts
Re: What Winning $250k at Poker Taught Me About Money
#2Interesting article. Interesting that her net take was $10,000 after subtracting expenses from the $200k win.
I wouldn't say she won that money, I'd say she earned it. Lottery one wins at and is pure luck. Poker is some luck but mostly skill and persistance.
FWIW, she refers to it as earnings and income in the quotes in the article.
Re: What Winning $250k at Poker Taught Me About Money
#3"No one knows what cards you have. All they know is the information that you convey. I think that’s a very valuable thing to remember in any negotiation."
Re: What Winning $250k at Poker Taught Me About Money
#4[deleted]
Re: What Winning $250k at Poker Taught Me About Money
#5> When it comes to you, nothing is too good to be true. It’s too good to be true for someone else. But you always think, “Oh, I deserve this. This is evidence of how smart I was in making this decision.” Poker forces you to let go of that very, very quickly.
That is indeed a very valuable lesson!
Re: What Winning $250k at Poker Taught Me About Money
#6In the article, she is quoted as saying that winnings from poker can be taxed at 60%. But I Googled it and the first few sites that I clicked on say more like 25%. What am I missing?
Re: What Winning $250k at Poker Taught Me About Money
#7In the article, she is quoted as saying that winnings from poker can be taxed at 60%. But I Googled it and the first few sites that I clicked on say more like 25%. What am I missing?
Perhaps it's adding local, state, federal, and sales tax altogether? I don't know.
Re: What Winning $250k at Poker Taught Me About Money
#8Interesting article. Interesting that her net take was $10,000 after subtracting expenses from the $200k win. I wouldn't say she won that money, I'd say she earned it. Lottery one wins at and is pure luck. Poker is some luck but mostly skill and persistance. FWIW, she refers to it as earnings and income in the quotes in the article.
You can win something with skill. The better team in wins the game. You also win an auction without luck.
Re: What Winning $250k at Poker Taught Me About Money
#9In the article, she is quoted as saying that winnings from poker can be taxed at 60%. But I Googled it and the first few sites that I clicked on say more like 25%. What am I missing?
Maybe European tournaments?
Re: What Winning $250k at Poker Taught Me About Money
#10In the article, she is quoted as saying that winnings from poker can be taxed at 60%. But I Googled it and the first few sites that I clicked on say more like 25%. What am I missing?
I didn't follow that either. Wouldn't it just be ordinary income?