Posts Tagged ‘profit’

Question by SJSU1429: Is online poker legal in California and if it is what is the tax on the profit?
This is a legal question on poker.

Best answer:

Answer by wcruzq
Running an online gaming operation as a US Citizen is illegal. Your winnings from gambling maybe subject to taxes depending on the state. I don’t know if California taxes winnings regardless if you got them in Nevada, or offshore.

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Question by Nandini D: How online poker room profit to us?
What is there in room profit in the online poker how it useful to us…….

Best answer:

Answer by pdq
Every pot in casinos and in on-line poker rooms has a “rake” from that casino or room.

In other words, let’s say people have put $ 12 into the pot by the end of betting. The dealer would take out a dollar and only pay the winner $ 11. If $ 50 went into the pot, they might take out $ 4.

Every casino and every on-line poker room has very clear rules for how much they take out of each pot. If you look carefully, you should actually see how much is being taken out of the pot. There should be a small figure of money next to the dealer that shows how much the on-line poker room is getting for that specific hand.

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Question by SpeedySteel: In the World Series of Poker (WSOP) Main Event how many players cash-in or make profit?
I was wondering how many players normally qualify for the WSOP Main Event. What is their buy-in, and how many of those players actually receive profit for their play?

Best answer:

Answer by http://KingCobraPoker.com
666 this year and they all make a profit of varying amounts depending on how long you last after the cut.

King Cobra Poker

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