Tax Court: Tournament Poker is Gambling, Not Sport
Washington (Feb. 22, 2007) - Citing a bit of wisdom from Kenny Rogers, the U.S. Tax Court ruled that tournament poker is gambling, not a sport, and thus not exempt from the Section 165(d) limitations of the tax code.
Related Poker News:
- Kentucky Appellate Court Rules Against Online Gambling Domain Seizures
- Kentucky Supreme Court Seizure Ruling
- EU Court Ruling Strikes Blow Against State-Run Online Gambling
- Poker Court Case Set for May 15
- French Apellate Court Upholds Decision Againjst Banning Online Gambling
- Catawbas take argument for video poker to U.S. high court
- The Nightly Turbo: Duhamel’s Ex Goes to Court, New Jersey Online Gambling Bill, and More
- Unibet Appeal Denied in Netherlands Court, EU Action Looms
- Washington Court Rejects Online Poker
- Court Shoots Down Online Gambling Appeal in Washington State
- No bluff - court bans poker tournaments
- Danish Court Rules Competence Vital; Poker is Game of Skill
Poker lingo:
- FOLD - To decline to call a bet, thus dropping out of a hand.
- BAD GAME - Any game in which you figure to be the loser, because the other players are better than you.
- PAY OFF - Calling a bet with little expectation of winning, unless the opponent is bluffing.
- STEAM - Playing wildly, calling and raising a lot, because one is upset. Compare: ON TILT.
- FLAT LIMIT - A variant of fixed limit where all bets are the same amount.
- BET - To put money into the pot, pursuant to the rules of the game, thus maintaining a chance of winning the pot.
RSS feed
