JK Harris Warns Poker Players and Sponsors of New Regulations
JK Harris & Company explains that the IRS is taking the confusion out of reporting poker tournament winnings for players and sponsors.
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Poker glossary:
- POCKET PAIR - Generic Hold'em term for 2 hole cards of the same rank.
- MILES OF BAD ROAD - Three of a kind. Prefixed with a number, 3*<N>, to indicate 3 <N>s. Thus "24 miles of bad road" is 3 eights, etc. (This obviously doesn't work for face cards.)
- MARKED CARDS - Cards that have been (illegally) altered so that their value can be read from the back.
- ASSAULT RIFLE - In Omaha, hole cards that are A-K-4-7 of any suit(s).
- RING GAME - A standard game where players can come and go as they choose. The opposite of TOURNAMENT.
- FIRE - To make the first bet in a betting round. Used to emphasize that the player bet when a check was possible, showing strength.
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