Taxman folds on $10m poker win
AUSTRALIAN poker champ Joe Hachem’s lucky streak has continued after the tax office ruled he won’t have to pay income tax on his $10 million winnings from Las Vegas because he was “pursuing a hobby”.
The Melbourne father of four toppled American and European poker heavyweights as he won the World Series of Poker in July.
The Australian Taxation Office found Hachem was not in the business of playing poker at the time of his win…
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Casino poker language:
- FLOORMAN - The casino representative in charge of the card room or a section of a card room. Arbitrates disputes when unusual events happen.
- BARN - A FULL HOUSE, three of a kind and a pair.
- LIVE ONE - The best kind of opponent, a poor player with a lot of money to lose and in a hurry to lose it.
- SPREAD LIMIT - A variation on fixed limit wherein the minimum and maximum bets are different. A 1-4-8 game allows bets from 1 to 4 in the early rounds and 1-8 in the last round. A 1-4-8-16 game allows bets from 1 to 4 in the early rounds, 1 to 8 in the next-to-last round, and 1 to 16 in the last round.
- FLAT CALL - To call a bet. Emphasizes that the caller did not raise.
- BOARD - The exposed cards in Hold'em and stud. Also BOARD CARDS.
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