Ethan “Rampage” Yau’s meteoric rise from low-stakes to high-stakes has been one of the most impressive accomplishments in poker the past two years. On Sunday, he’ll take a stab at a $1 million buy-in game on Hustler Casino Live.

The poker vlogger headlines the third day of action at Hustler Casino in Los Angeles, and the live-stream is scheduled to begin at 4 p.m. PT. It will be the largest buy-in of his career, and he’ll be facing an entertaining and wealthy lineup that includes Tony G, Nik Airball, Rob Yong, Stanley Tang, and “Wes Side” Wesley.

At the start of play, the blinds will be $500/$1,000 with a $2,000 big blind ante. There could conceivably be over $15 million on the table at one point with rebuys and add-ons factored in. Wesley announced on Twitter that he’ll be in for $3 million.

Rampage Poker Playing for Unthinkable Amounts

This won’t be the first time Rampage, who has over 240,000 YouTube subscribers, has played in a big game. In fact, he’s now a regular in high-stakes games, including many on Hustler Casino Live.

But most of his long-time fans could have never expected his rise up the stakes so quickly. In fact, in January 2022, he posted a video from a session in which he excitedly won over $6,000. Sixteen months later and he’ll be playing in a game where the smallest pot of the day will likely be larger than $6,000. Did he think one year ago he would soon be playing at such massive stakes as he will be on Sunday?

“A year ago, I punted $100,000 to Garrett Adelstein, so no,” Yau said before being asked if he would have expected two years ago to be playing in a game of this magnitude. “Never, never. Who thinks they’re playing with a million dollars? It’s an inconceivable amount, but here we are and everyone’s watching, and it’s for all the glory and all the money.”

Rampage is one of many highly popular vloggers who have taken over the poker world the past few years. His fans have always loved his gamble mentality and willingness to shot-take. Although he won’t be in the $1 million game completely on his own dime — he sold some action — he’ll be risking a significant amount of money on his own to play against some high-stakes regulars.

“I try my best not to think about the stakes mainly just because of the sheer dollar amounts and all of that, but I think I’ve sold enough action where I’m comfortable playing and hopefully things go well, it’s just a normal poker game, a lot of friendly familiar poker faces, so what could go wrong,” Rampage said in regards to potentially being nervous playing with $1 million in front of him.

The 2023 World Series of Poker (WSOP) is less than a week away, and right now players are filled with high hopes. If all goes according to plan, they’ll head out to Las Vegas and make a poker fortune, but if you’re so fortunate, remember big scores come with big responsibilities, primarily taxes!

We asked our friends over at Kondler & Associates, the premier poker tax specialists, for things players may want to remember at the 2023 WSOP. President and Owner Ray Kondler, CPA, offered his expertise below.

If you would like to receive more information about their services or receive a free assessment, please visit our Kondler & Associates hub or call (702) 433-7075. You can also check out their booth at the 2023 WSOP.

Kondler & Associates, CPAs Can Help You Prepare Your Taxes Today

State Taxes

Understanding the tax laws of the state in which you reside is of utmost importance when it comes to handling gambling losses. It allows individuals to determine their tax obligations accurately and make informed decisions regarding deductions and reporting requirements. The handling of gambling losses can vary significantly from state to state. Each state has the authority to establish its own laws and regulations regarding gambling and its taxation. Some states fully allow the deduction of gambling losses, meaning that individuals can offset their gambling winnings with losses when calculating their taxable income. This allows them to reduce their overall tax liability.

On the other hand, certain states may have partial allowances for deducting gambling losses. This means that individuals may be able to deduct a portion of their losses, but there may be limitations or restrictions on the amount that can be deducted. The specific rules and limitations can vary, so it is crucial to understand the tax laws of the state in which you reside to ensure compliance and maximize potential deductions.

In contrast, some states do not allow any deduction for gambling losses. In such states, individuals are unable to offset their gambling winnings with losses for tax purposes. As a result, their taxable income remains unaffected by their gambling activities, and they will end up paying tax on the gross amount won.

Professional vs Amateur Tax Classification

The distinction between being an amateur and a professional gambler encompasses several key differences. Amateurs typically engage in gambling activities purely out of personal interest or recreation, without considering it as their main source of income. On the other hand, professional gamblers treat gambling as their primary occupation and often receive regular income from their gambling activities, making it their main source of livelihood.

One significant difference between amateur and professional gamblers lies in their tax obligations. As professional gamblers earn income from gambling, they are subject to self-employment taxes. However, they also have the advantage of being able to write off various expenses related to their gambling activities. These deductible expenses can include travel costs, accommodations, entry fees, and other relevant expenses.

In certain instances, professional gamblers may choose to set up an S corporation (S Corp) to manage their gambling activities and tax liabilities. By establishing an S Corp, they can potentially structure their income and expenses in a more advantageous manner for tax purposes. This alternative can provide additional tax planning opportunities and potentially optimize their overall tax situation.

Check out our Kondler & Associates Hub here!

What Documentation to Track

When gambling, it is important for players to keep track of information to maintain proper tax documentation. Two common methods used for tracking poker activity are Excel ledgers or a dedicated poker tracking app. Regardless of the method chosen, these are details that should be documented:

• Date & Time spent playing.
• Type of gambling (cash game, tournament, sports bet, etc.)
• Buy-in amount and cash-out amount.
• Receipts or bank statements of expenses (for professional Gamblers)

In regard to tax forms issued by the Casino (W2Gs’s & 1042s) it is important to pay attention to the tax form to verify that it was issued in the correct year. On many occasions a casino can use a prior year’s tax form and this can be a reason a refund was held for a significant amount of time while the IRS verifies the transfer with the Casino.

International players- Tax Treaty vs Non-Tax Treaty

The distinction between being from a Tax Treaty country and a Non-Tax Treaty country can have significant implications for gamblers when it comes to the taxation of their winnings. Players from Tax Treaty countries have the advantage of being able to provide the casino with their Individual Taxpayer Identification Number (ITIN), allowing the casino to release the entire amount won to them. This means that players from Tax Treaty countries do not have any withholding taxes applied to their winnings.

On the other hand, players from Non-Tax Treaty countries face a different scenario. Regardless of whether they have an ITIN or not, 30% of their gambling winnings are withheld by the casino. However, there is an opportunity for these players to recoup the withheld amount by filing a Tax Return. The refund amount for Non-Tax Treaty countries is based on various factors, including gambling wins, losses, and expenses. By reporting their gambling activity accurately and documenting their losses and expenses, players can potentially reduce their taxable income and increase the amount refunded to them.

Q&A with Kondler & Associates, CPAs: Tax Implications for Non-U.S. Citizens

International Players- ITIN Number

For Non-Tax Treaty gamblers, obtaining an Individual Taxpayer Identification Number (ITIN) is important. While it is true that having an ITIN allows Non-tax treaty players to file a US tax return and potentially collect taxes that were withheld from their gambling winnings, it does not exempt them from having money withheld in the first place. Regardless of having an ITIN, Non-tax treaty players will still have a portion (typically 30%) of their gambling winnings withheld by the casino or other payers. Obtaining an ITIN is crucial because it enables Non-tax treaty gamblers to fulfill their tax obligations in the United States. With an ITIN, they can file a US tax return and report their gambling income, losses, and expenses and receive a refund if applicable.

Ky Nguyen finally won the big one in the 2023 World Poker Tour (WPT) Gardens Poker Championship at HyperX Esports Arena inside of Luxor Hotel and Casino in Las Vegas.

Nguyen outlasted a field of 346 entries to claim his spot on the Mike Sexton WPT Champions Cup and win $375,380. The victory also earns Nguyen a $10,400 seat in December’s WPT Championship.

Chris Lee finished in third and WPT Ambassador Brad Owen was fourth, while Joey Deluca and Josh Lachman rounded out the final six. Owen fell just short of his first WPT title after a big comeback on the final day in Los Angeles to qualify for the final table.

2023 WPT Gardens Poker Championship Final Table Results

The win is the first major title for Nguyen, who has established himself as a popular vlogger and cash game grinder throughout the Los Angeles area.

”A Huge Accomplishment”

“This is so important for me to finally come with a win in such a big tournament,” Nguyen said in a post-win interview with PokerNews. “I’ve been dreaming about this moment for a long time. I’ve spent a lot of time playing poker and this is definitely a huge accomplishment.”

Nguyen found a double with pocket kings in the opening moments of the day to move up the leaderboard—and he continued to climb, even after the deck didn’t go his way in an unlikely chopped pot.

Nguyen snap-called with six-five for a straight when Salunga put him at risk in four-handed action. Salunga turned over queen-five for a smaller straight, but a six fell on the river to give both players the pot.

The champ bounced back with the elimination of Owen and a big river call on a bluff from Salunga that gave him the lead in three-handed play.

“I was able to regroup and leave that behind me and just play good poker. It was tough to overcome and once I did I was feeling great with confidence going into heads up.”

Final Table Action

Lachman sat down in the under-the-gun position with just three big blinds and he folded the first hand before he got it in on the next one with a suited eight-three. Salunga looked him up with a suited ace-nine and held on for the first elimination of the day. Lachman went home with $71,200 and that will ease the pain of the broken foot he suffered during the opening stages of the tournament in Los Angeles.

The opening moments of the day were an opportunity for Nguyen, Lee, and Owen to pick up chips to move above the four million mark, while Salunga surrendered a double to Nguyen’s pocket kings to fall down the leaderboard and join them in a four-way logjam at the top.

Salunga soon won a clash with Owen that opened up a small lead and sent the WPT Ambassador below the two million mark. Deluca saw his chance to jam his short stack with jack-ten, but Nguyen was there with pocket jacks to send him to the rail in fifth place for $94,000.

Read More About Brad Owen’s Run to the Final Table

The final four continued into the first break where Salunga led and Owen held the short stack with just under two million. Owen finally got it in with king-six, but Nguyen called with ace-jack and held on to send him out in fourth place for $125,000.

After Owen hit the rail, Salunga extended his lead with a jump to over 10 million and Lee fell into the short stack with just over 10 big blinds.

Nguyen called Salunga’s big bluff to bring the top stacks near even, and Lee was the odd man out with just over two million. He finally got it in with a suited ace-four and Nguyen put him at risk with pocket jacks. Nguyen held on to send Lee to the rail in third place for $169,000.

Heads-up play kicked off with Nguyen holding just over 10 million in chips while Salunga was close behind with seven million. Nguyen built a quick lead and soon Salunga was down to his last seven big blinds. Salunga picked up a small double for a dash of hope, but it didn’t last long. The big moment came when Nguyen shoved with queen-eight and Salunga went for the double with jack-ten—the flop brought two eights and Nguyen held on for his first WPT title.

_{*Images courtesy of WPT.}

Last year marked 11 years since PokerNews started publishing predictions ahead of the World Series of Poker (WSOP), and with three days to go they’re back again ahead of the 2023 WSOP.

With the WSOP moving to its new home on the Las Vegas Strip at the Horseshoe and Paris, we asked nine members of the PokerNews team for their thoughts and predictions.

This year we spoke to Global Live Events Manager Shirley Ang, US Executive Editor and former WSOP bracelet winner Chad Holloway, Live Reporting Executive Matt Hansen, staff editors Matthew Pitt, Jon Sofen, Calum Grant and Connor Richards, and Community Manager Jesse Fullen.

Which poker player will win their first bracelet this year?

Chad: Is there any player in Vegas right now hotter than Jeremy Becker? He’s won eight Wynn tournaments since March 25, so if he takes his skills down the street to the Horseshoe, I think he’s going to ride that momentum all the way to a no-limit hold’em bracelet.

Calum: After coming close at the 2022 WSOPE, I think PokerStars ambassador Sam Grafton gets his first bracelet. He’s surely one of the names on the ‘Best without a Bracelet’ list, and I think he scratches his name off that list this time around. But it could also be the year for Dustin Dirksen, he’s finished as the runner-up in three bracelet events now, with two second places coming from 2021 and 2022.

Connor: Adam Hendrix. After being the frontrunner in the 2022 GPI Player of the Year race and being denied at the last minute, Hendrix will be playing with a vengeance this summer and could surely pick up a maiden bracelet.

Jesse: Jesse Fullen, obviously.

Matt Pitt: I went with Shannon Shorr last year, and Shannon is my pick again in 2023. He came super close at the last WSOP, finishing third in the $50K High Roller.

Shirley: Seth Davies

Matt Hansen: Chris Brewer

Jon Sofen: I’m going with Seth Davies.

How many players will win two or more bracelets at the 2023 WSOP and who?

Shirley: 4, Jeremy Ausmus, Adam Friedman, Adrian Mateos, and Michael Addamo.

Chad: There will be a trio of two-time bracelet winners this summer. I can’t predict all three, but I will say that I think it’s going to be a good summer for Phil Hellmuth, so let’s see bracelets No. 17 AND 18!

Jesse: Three. Hellmuth, Negreanu, and Matusow. I know right?

Matt Hansen: Three. Brewer, Deeb, and Ausmus.

Calum: Just the one for now.

Jon Sofen: One.

Matt Pitt: Two will win multiple bracelets. Jeremy Ausmus won two in 2021 and again in 2022. Why not go for a hat trick of two in 2023? I think Shaun Deeb (who won two in 2018). Deeb is in the early stages of his big weight loss bet, and his new outlook on health and fitness could help him at the tables.

Connor: Just one, and it will be Shaun Deeb as he competes while in the best shape of his life.

How many events will Phil Ivey play?

Connor: I’ll guess that we will see Ivey in 11 events as he chases an 11th bracelet.

Matt Pitt: Ivey cashed in nine events last year, but he’s not logged a single cash in an MTT in 2023. I wouldn’t be surprised if he didn’t play any or put in a ton of volume.

Matt Hansen: Five.

Jon Sofen: Ivey will play 18 events.

Jesse: Eight

Chad: I hear Phil Ivey recently welcome a baby into the world, and it’s not uncommon for players to cut down on tournaments when they have a young one running around. Ivey will still play, but I think it’ll be less than a dozen events. I’ll say eight tournaments is all he’ll play.

Shirley: 15

Calum: Phil Ivey cashed in nine events last year and came close to getting his 11th bracelet. I think we’re going to see a lot of Ivey again like in 2022 so he’s going to be in at least 20-25 events.

How many players will enter the 2023 WSOP Main Event?

Chad: This will be the largest WSOP Main Event in history. My guess is 9,170 players!

Matt Pitt: I was surprised to see the 8,663 attendance in 2022; I didn’t think it would be anywhere near as high. I feel the same way this year as last, so I’ll go with 7,500.

Calum: Surely, it’s time the 2006 record gets broken. I think it’ll be a few entrants shy of 9,000 so let’s go with 8,942.

Connor: I predict there will be a record-breaking Main Event field of 8,774 players.

Shirley: 8,833

Jesse: 9,000

Matt Hansen: 8,800

Jon Sofen: A record 8,999 players.

How to Stay Healthy in Las Vegas During the WSOP

What will 2023 be “The Year Of?”

Calum: Shaun Deeb’s weight loss prop bet.

Chad: It’s going to be the “Year of the 20-Somethings.” I’ve seen an uptick of young people in the game, and now 20 years removed from Moneymaker’s game-changing win, it really is a new era. Look for a lot of young bracelet winners in 2023.

Jon Sofen: The Year of Hellmuth

“I think Shaun Deeb’s body fat prop bet with Bill Perkins will encourage countless other players to make lifestyle changes themselves.”

Matt Pitt: The Pros Calling Each Other Out and Challenging to HU4Rollz

Matt Hansen: The Year of F1 Street Paving Traffic

Shirley: The year of a record number of lesser-known players winning their first bracelets.

Connor: The Year of Physicality. I think Shaun Deeb’s body fat prop bet with Bill Perkins will encourage countless other players to make lifestyle changes themselves. Even Chris Moneymaker has indicated he will be doing so.

Jesse: The year of the broken record. Massive fields across all of the big events!

Who do you think will win a bracelet first – Daniel Negreanu or Phil Hellmuth?

Matt Pitt: The Poker Brat usually plays more lower stakes events so has an advantage. That said, I have a feeling Negreanu could enjoy a fruitful WSOP in 2023 so I’m choosing him.

Chad: Phil Hellmuth. I love Negreanu and hope to see him win a bracelet, but I’ll never bet against the Poker Brat at the WSOP.

Jon Sofen: I’m predicting that Hellmuth will absolutely crush it this summer like he did in 2021, so I’ll go with him. But Negreanu’s going to eventually close one out.

Matt Hansen: Phil Hellmuth

Shirley: Negreanu

Jesse: Hellmuth

Calum: Hellmuth came close in the $3K last year while Negreanu had a WSOP to forget. I think their fortunes swap for this year and can see Negreanu having a very successful summer. I think through law of averages, Hellmuth might have one of his worst WSOP’s to date.

Connor: While Negreanu appears on top of his game after taking down the Super High Roller Bowl, there’s no one hungrier for another bracelet than Hellmuth and I think he will get it before Negreanu.

Which former Main Event champion will have the best performance at the 2023 WSOP?

Chad: It’d be great if it was Moneymaker on the 20th anniversary of his win, but I don’t think he’ll play much. Instead, I am going to go with Ryan Riess. It’s also the 10th anniversary of his big win in 2013 (the same year I won my bracelet), so I am pulling for him!

Jesse: Chris Moneymaker. 20th anniversary and this man wants his second bracelet.

Calum: I don’t think you can look past the last two winners in Koray Aldemir and Espen Jorstad. I expect them to perform well again.

Jon Sofen: Phil Hellmuth.

Matt Pitt: Koray Aldemir. He’s definitely the most talented Main Event champion in the past decade or two, and reeled in cashes like they were going out of fashion last summer. Es[en Jorstad is a good shout too depending on how many events he decides to get involved with this year.

Connor: 2023 will be the year of Joe Hachem. I will not be elaborating at this time.

Matt Hansen: Espen Jorstad

Shirley: Martin Jacobson

A Look at the 2023 WSOP Online Bracelet Schedule – How to Deposit

Who will win the $50,000 Poker Player’s Championship?

Chad: Todd Brunson in honor of his father.

Shirley: Michael Mizrachi

Connor: Jungleman Dan Cates. Could it be anyone else?

Matt Hansen: Ryan Leng

Jesse: Jungleman, obviously.

Calum: I’d love Jungleman to make it three in a row but that just seems like a near impossibility. So, let’s go with Ivey for this one, I think that would be awesome to see.

Jon Sofen: Brian Rast

Matt Pitt: Save everyone the hassle and give the title to Daniel Cates!

Who do you like to win the 2023 WSOP Player of the Year?

Calum: I think a smart guess would be someone like a Shaun Deeb or Daniel Negreanu but I’m going to take a punt on this one. 2023 WSOP POY will be Ethan ‘Rampage’ Yau. There really seems to be nothing stopping him as of late.

Shirley: Joao Vieira

Chad: I’m predicting a big year for Hellmuth, who has finished as WSOP POY runner-up three times. I think he finally captures that prestigious title this year.

Matt Hansen: Shaun Deeb

Connor: Shannon Shorr. One of the nicest guys in poker, and one of the greats without a bracelet, it would be great to see Shorr have a strong summer to pick up POY. And, he’s fresh of a WPT High Roller victory at the Seminole Hard Rock Poker Showdown.

Matt Pitt: Maybe a little leftfield but let’s say Adrian Mateos. He seems to be playing a lot lately and obviously has the ability.

Jon Sofen: Phil Hellmuth

Jesse: Shaun Deeb

How many ladies will get heads up, and how many will win bracelets?

Chad: I think ladies will make it to heads-up play twice in open events, and they’re going to capture gold on both occasions.

Shirley: 6 heads-up; 3 wins

Matt Hansen: They will go 2 for 2.

Calum: Excluding the Ladies event of course, I think there will be at least one woman to win a bracelet with two getting to heads-up.

Matt Pitt: There are some super-talented ladies, but the lack of numbers limits ladies’ chances of winning some poker gold. I do think we’ll see a female champion in an open event, so I’m going with four heads up and two bracelets including online events.

Connor: Outside of the ladies’ event, I predict two ladies will get heads up and both of them will win.

Jesse: Six ladies heads up and four bracelets.

Jon Sofen: Three bracelets, three runners-up.

Celebrating the Extraordinary Legacy of Doyle Brunson at the World Series of Poker

Who would you like to see inducted into the Poker Hall of Fame in 2023?

Chad: Man, oh man, that backlog is going to get messy if the trend of only one person getting in each year. There are so many deserving individuals – Antonio Esfandiari, Matt Savage, and Michael “The Grinder” Mizrachi jump to mind – but it has to be Isai Scheinberg.

Jon Sofen: Matt Savage and Brian Rast are both deserving.

Matt Hansen: Mike Matusow

Calum: Maria Ho or Antonio Esfandiari

Shirley: Jack Effel

Matt Pitt: Isai Scheinberg or Matt Savage.

Connor: Michael Mizrachi. At the very least, “The Grinder” deserves to be in the Nickname Hall of Fame.

Jesse: Norman Chad and Lon McEachern on 20th anniversary of the Moneymaker year!

WSOP Main Event Champions 2015-17: McKeehen, Nguyen, Blumstein

Will a known name or a random player draw the $1,000,000 Mystery Bounty?

Chad: This year it’s going to be a random play, but it won’t take long for them to become a known name after that!

Calum: I really hope a non-name pulls the milly bounty.

Shirley: Mystery Bounty: known player, would be funny if Matt Glantz does it again

Matt Hansen: An unknown Las Vegas local will pull the million.

Jesse: It’s probably gonna be Robbi Jade Lew. So, a known player.

Matt Pitt: I’d prefer it to be a random player that pulls out the $1M Mystery Bounty.

Connor: After Matt Glantz pulled the million-dollar bounty in 2022, it seems only fair that this year’s bounty would go to an unknown player.

Jon Sofen: Matt Glantz will win it again.

How many players will the $250,000 Super High Roller get?

Chad: 75

Calum: 50 if crypto portfolios are performing well, 40 if not.

Matt Pitt: It will get exactly 50.

Connor: 65 players.

Jesse: 75

Matt Hansen: 61

Shirley: 66

Jon Sofen: 69 would be a nice turnout.

Give us one last bold, unique prediction.

Chad: In honor of the late Doyle Brunson I expect a big uptick of players mixing it up with “The Brunson” (AKA Ten-Deuce). Expect a couple of gold bracelets to be won by players holding the famed hand.

Matt Pitt: Ali Imsirovic and Jake Schindler will contest a bracelet heads-up!

Connor: Allen Kessler will try raw fish.

Shirley: A PokerNews team member will make a final table

Jesse: Phil Ivey makes the Main Event final table with an average stack.

Matt Hansen: A player will win back-to-back events.