IRS wants a piece of the poker pie
If you were worrying about the tax implications of that big poker tournament win you enjoyed in the United States, the U.S. Treasury has a plan for you according to a report carried in Card Player magazine this week.
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Casino poker language:
- EXPECTATION - The long-run [dis-]advantage of a given situation, specifically without reference to any particular outcome. I.e., what you figure to win [lose] on average after a large number of repetitions of the same situation.
- BUNNY - An eight. So named because one can easily draw "rabbit ears" above the numeral 8, "paws" in the middle and "feet" at the bottom. (Do this only at home, and not on cards that will be used for play.)
- PAY OFF - Calling a bet with little expectation of winning, unless the opponent is bluffing.
- HOUSE RULE - Rules and interpretations (e.g., use of wild cards, or rules on having to show beaten hands) that are specific to an establishment or even tables within the establishment.
- TIGHT - [1] A style of play that entails playing fewer hands than average. Antonym: LOOSE. [2] A FULL HOUSE.
- WHITE BLACKBIRD - A hand so astonishingly rare as to be unworthy of the opponents' consideration, e.g., being dealt a pat royal flush in 5-card draw.
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