The fate of recent WSOP champion Joe Hachem's newfound US$7.5 million is currently up in the air. The Australian Tax Office could lop off 47 percent of his winnings, should it be able to prove that Hachem earned the money through professional gambling pursuits. This would turn Hachem's $7.5 million jackpot into under four million dollars.
In order to prove that Hachem's WSOP winnings were the result of professional gambling, the Tax Office needs to prove that Hachem used skill and strategy towards winning the poker championship. It seems, however, that Hachem may have dug himself into hole by issuing statements to the press that could hurt his case on the tax front. In a recent newspaper statement, Hachem was quoted as saying that over the past few years, he became aware of the fact that poker playing can be made into a career. He continued, saying that he studied the game intensively, and learnt about the specific strategies for improving the game. Statements such as these could allow the Tax Office to deem the WSOP winnings to be professional gambling boon.
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