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WSOP Africa Announced as Heinz Collects his $8.7M Tax Free

Pius Heinz, the latest winner of the WSOP, will not have to pay any tax on his $8.7 million prize money. This is due to a tax treaty signed by Germany and the US which means that any income earned by a German in the US is free of tax. Also, any money won gambling in Germany is tax so Heinz will not be paying a penny of his earnings to the government.

Most of this year’s WSOP winners will have their winnings heavily taxed and February is set to produce more winners in the African WSOP.

However, Martin Stazko who finished second will have to pay $814,963 of his total winnings of $5,433,086 to the Czech government. Ben Lamb who finished third will have to pay $1,524,011 of his $4,012,038 winnings to the US government. Mark Gianeetti will need to pay 35% of his $3,012,700 to the US government. The least fortunate is Irish player Eoghan O’Dea who finished sixth. He will have to pay 40% of his winnings to the Irish government, totalling $695,018.

Just as the hype from the WSOP dies down, it has been announced that the World Series of Poker Africa is going to take place between 21st – 26th February 2012. The tournament will consist of three main events and five others. There will be four Mega Satellite tournaments which give people opportunities to win seats in the Main Event. There will also be a separate one day ladies’ tournament.

The first WSOP Africa Main Event, which took place in October 2010, was won after over 50 hours of play by Warren Zackey who fought off 187 other hopefuls. It is expected that next year’s tournament will be even bigger than the last and full of hours of thrilling poker.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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