Just a query

It’s 10:02 pm, I’m watching The World Poker Tour on the Travel Channel (“WPT Battle of Champions III) with Daniel Negraneau, Tuan Lee, Eli Elezar, and Alex something-or-other at the final table. I started thinking about some of the million dollar plus prize money awarded to the winners of these tournaments and a question arose in my brain.

Fresh from my first venture into on-line tax filing I started to wonder how these poker players, earning paychecks both big and small claim their winnings? With some huge Powerball drawings these past few weeks, I feel like we all understand the basic laws of lottery winnings and tax implications. Meaning, a $360 mil. lotto score is essentially only about $180 mil. or so.

My thought was officially this: Are the players who cash checks “contest winners” and therefore taxed at the 50% mark? Or are they independent contractors and use 1099? Or are they considered salaried?

I am curious about this and would love any readers from the poker who world might have some insight into this mota-induced query.