Lucas Jumalon Wins $10 Million at WSOP Main Event

The World Series of Poker main event concluded with a significant win for Lucas Jumalon. The 22-year-old poker player from Spokane, Washington, secured the top prize of $10 million. Every player at the final table was guaranteed at least $1 million, but the amount each player owed in taxes varied greatly depending on their residence.

Lauri Saaskilahti, a 39-year-old player from Helsinki, Finland, who now lives in Barcelona, Spain, finished as the runner-up, winning $6 million. Greg Mueller, a 55-year-old poker pro from Vancouver, Canada, won $3.75 million. Michael Gagliano, a 41-year-old poker pro from New Jersey, won $2.75 million. Han Feng, a 27-year-old player originally from China now living in Houston, Texas, won $2.25 million. Rami Hammoud, a 36-year-old analytics manager from Montreal, Quebec, won $1.75 million. Jamie Shaevel, a 39-year-old father of two from Santa Monica, California, won $1.5 million. Mario Boos, a 32-year-old poker pro from Volgelsheim, France, won $1.25 million. Evagoras Evagorou, a 48-year-old part-time player from Nicosia, Cyprus, won $1 million.

All told, various governments will ask for more than $12 million of the $30 million awarded at the final table. The tax implications for each player are as follows: Lucas 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 will owe about $2,773,000 to the Spanish government. Greg Mueller faces a 30% withholding from the IRS in the U.S., losing $1,122,000 in taxes. Michael Gagliano will pay federal income tax and self-employment tax as well as New Jersey income tax, losing 48.39% of his winnings. Han Feng will pay just federal income tax and self-employment tax of $889,753, a total of 39.54% of his winnings. Rami Hammoud won’t be hit with Canadian income tax so will face just a 30% withholding of $522,000 from the IRS. Jamie 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 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 will face a 30% ($300,000) withholding from the IRS and 5% to Cyprus ($49,500) for a total of $349,500, just under 35%.