Poker tourneys will have to report winnings
Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to the Internal Revenue Service. The new requirement goes into effect March 4, according to the IRS.
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Casino poker language:
- SMALL BLIND - In games with two blinds the first blind is the SMALL BLIND because it is usually one-half (or less) the second or large blind.
- KICKER - In hands containing pairs and trips, the highest card not matched. In draw games, sometimes a card kept for deception purposes.
- STAKE - The amount of a player's BUY-IN, or the amount of money they are willing to play with in a given session. Compare: BANKROLL.
- WHEEL - A-2-3-4-5. Usually discussed in the context of lowball where it is the best possible hand. Can also refer to a 5-high straight in high games. Also: BICYCLE.
- MIDDLE POSITION - Betting positions approximately halfway around the table from the first player to act.
- PAY STATION - A player who rarely folds, thus who frequently calls better hands and loses. Almost as much fun as a LIVE ONE.
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