Poker Champ Joe Hachem Wins Tax Break Too

In a development sure to make all professional poker players green with envy, Joe Hachem has learned that he does not have to pay income taxes on the money he won at the 2005 WSOP. Hachem took home $7.5 million for outlasting 5,600+ people in the main event of the World Series of Poker this year.

As the Lebanese-born Hachem officially resides in Australia, he is subject to their tax laws. According to the Australian Taxation Office…

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Thu, December 22nd, 2005

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Useful poker information:

  • S&M - Sklansky & Malmuth. Generally refers to the ideas and algorithms published by these two authors. When used in a 7-card stud context, often refers to "7 Card Stud For Advanced Players", and when used in a Hold'em context, often refers to "Texas Hold'em For Advanced Players".
  • OMAHA - A variant of Hold'em where each player receives 4 hole cards and must use exactly two of them (together with 3 of 5 board cards) to make a hand. Often played high-low split with an 8 qualifier for low.
  • SIXTH STREET - The sixth card dealt in 7-card stud.
  • PASSED OUT. - A hand in which nobody opens. What happens next is a function of the game being played.
  • LOOSE - Playing more hands than the norm. Antonym: TIGHT.
  • CHECK RAISE - To check initially, then raise a bet made later on in the same betting round. Frequently a sign of strength, but may be a bluff.
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