WSOP 2026 High-Stakes Event Sees 15% Drop in Entries

The third event on the 2026 WSOP schedule, a $5,000 8-handed no-limit hold’em, had 570 players, down from 673 in 2025. This decline of more than 15% resulted in a reduced prize pool, falling from $3.7 million to $2.6 million. The winner of the tournament will take home $502,985, compared to $582,008 in 2025.

The drop in entries comes in the first year since the new gambling tax provisions in the One Big Beautiful Bill took effect. The tax and spending law became law in January and only allows 90% tax deductions on gambling losses, creating “phantom income” for players. This means a player having a losing year could still be required to pay taxes. As a result, some high-stakes pros may not be playing full schedules this year at the WSOP. Poker legend Erik Seidel confirmed he is playing a reduced schedule this year due to the tax changes. “The margins are really, really thin,” he said. “If you’re a professional poker player, you’re not even guaranteed to have a profit at the end of the year. This just creates a situation where it’s really untenable. Even the elite players, they can’t overcome it.”

Federal lawmakers on both sides of the aisle attempted to reverse the changes. However, nothing has succeeded yet. Rep. Dina Titus (D-NV) filed the FAIR BET Act last July. Despite several attempts to pass the bill, it never gained traction. Congress never even voted on it. Other pros may be in a similar situation as the 10-time bracelet winner, cutting back on volume and focusing on even higher-buy-in events. Seidel’s concerns were echoed by other high-stakes pros when the tax provision came to light. Poker pro Ryan Lapante noted that other Las Vegas-area tournaments may see declines this summer.