The World Series of Poker main event wrapped up Wednesday, with 22-year-old Lucas Jumalon coming out on top for a $10 million payout.
Every player at the final table was guaranteed at least $1 million, but how much each coughed up to the tax man depended on where they currently reside. All told, various governments will ask for more than $12 million of the $30 million awarded at the final table. (Plus more from the other 1,277 players who cashed.)
Russ Fox of Clayton Financial and Tax of Las Vegas takes a look each year at how much each player at the final table actually takes home. He documents the players’ tax implications based on their own states or country on the Taxable Talk blog.
Here’s a look at each player’s tax situation:
Lucas Jumalon – $10 Million
Lucas Jumalon from Spokane, Washington, plays poker full time and went on a dream run during the main event. Washington doesn’t have a state income tax as of now, although one will be put in place as of 2028.
With his win this year, Jumalon will owe just federal income tax and self-employment tax, losing 39.9% of his earnings for a total of $3,990,826.
Lauri Saaskilahti – $6 Million
Lauri Saaskilahti is a 39-year-old player from Helsinki, Finland, who now lives in Barcelona, Spain. He moved up from seventh in chips at the final table to finish runner-up. Saaskilahti works as head of sales at a packaging company.
Spain has a progressive tax system with a top bracket of 47%. The US-Spain Tax Treaty exempts Saaskilahti’s winnings, but he’ll owe about $2,773,000 to the Spanish government.
Greg Mueller – $3.75 Million
A longtime poker pro from Vancouver, Canada, Greg Mueller faces a bit of an uncertain situation, according to Fox. He notes that there is a dispute between the Canada Revenue Agency (CRE) and Quebec’s tax agency. Quebec tax officials believe professional poker players owe income tax.
Fox says CRE is less aggressive toward poker pros and also that Mueller, 55, is reportedly semi-retired. If the latter is true, he will face a 30% withholding from the IRS in the U.S., losing $1,122,000 in taxes.
Michael Gagliano – $2.75 Million
New Jersey poker pro Michael Gagliano faces a sizable tax bite. He’ll pay federal income tax and self-employment tax as well as New Jersey income tax.
The 41-year-old’s tax bill will include $1,058,348 to the federal government and $272,335 to the Garden State for a total bill of $1,330,683, losing 48.39% of his winnings.
Han Feng – $2.25 Million
Han Feng, 27, took a brutal beat with pocket aces to get eliminated in fourth place. His tax situation, however, isn’t quite that savage. Originally from China, he now lives in Houston, Texas, which doesn’t have a state income tax.
He’ll pay just federal income tax and self-employment tax of $889,753, a total of 39.54% of his winnings.
Rami Hammoud – $1.75 Million
Rami Hammoud, 36, began the final table second in chips, but things didn’t quite go his way. The analytics manager from Montreal, Quebec, won’t be hit with Canadian income tax so will face just a 30% withholding of $522,000 from the IRS.
Jamie Shaevel – $1.5 Million
A 39-year-old father of two, Jamie Shaevel owns an LED lighting company in Santa Monica, California. He began third at the final table but couldn’t get much traction before bowing out in seventh. Living in the Golden State means Shaevel will be hit with a sizable tax bill – the highest percentage of any player at the final table.
He’ll pay $598,373 to the IRS and pony up another $157,127 to the state of California for a total of $755,500. That adds up to a 50.4% tax burden.
Mario Boos – $1.25 Million
Like Shaevel, Mario Boos faces a daunting tax situation. The 32-year-old poker pro from Volgelsheim, France, will suffer France’s top marginal tax rate of 45% with an additional 3% surtax on income over €250,000.
He’ll owe an estimated $543,701 to French taxing authorities, leaving him with $706,299.
Evagoras Evagorou – $1 million
Evagoras Evagorou, 48, is a part-time player from Nicosia, Cyprus, who works as an optician and entered the final table on the smallest chip stack. Cyprus citizens face a maximum marginal rate of 35%, and since the U.S. and Cyprus don’t have a tax treaty, he’ll face a 30% ($300,000) withholding from the IRS.
Fox says Evagorou can claim a foreign tax credit for that withholding, so the final bill means paying 30% to the IRS and 5% to Cyprus ($49,500) for a total of $349,500, just under 35%.
| Player | Amount Won | Total Taxes Paid | Winnings After Taxes | Percentage Lost |
|---|---|---|---|---|
| Jamie Shaevel | $1.5 million | $755,500 | $744,500 | 50.4% |
| Michael Gagliano | $2.75 million | $1,330,683 | $1,419,317 | 48.4% |
| Lauri Saaskilahti | $6 million | $2,773,000 | $3,227,000 | 46.2% |
| Mario Boos | $1.25 million | $543,701 | $706,299 | 43.5% |
| Lucas Jumalon | $10 million | $3,990,826 | $6,009,176 | 39.9% |
| Han Feng | $2.25 million | $889,753 | $1,360,247 | 39.5% |
| Evagoras Evagorou | $1 million | $349,500 | $650,500 | 35% |
| Greg Mueller | $3.75 million | $1,122,000 | $2,628,000 | 30% |
| Rami Hammoud | $1.75 million | $522,000 | $1,228,000 | 30% |
One Big Beautiful Bill Act Looms
Fox’s assessment doesn’t take any backing deals into account and simply looks at the total amount won by each player. The payers’ tax bill also comes as American players face the burden of the gambling tax provisions of the One Big Beautiful Bill tax and spending law that went into effect in January.
Under the law, players can only deduct 90% of losses and may face a tax bill despite having a losing year. So far, efforts to roll back the tax provisions have come up short.
Some of the American players finishing in the top nine at the final table may play more in the remaining months of the year to reduce taxable income or run up their winnings even higher.
For a look at how much last year’s top nine players paid in taxes, click here.
- Photo: WSOP – Alicia Skillman
