Online Poker

Pius Heinz to keep Most of WSOP Winnings

by Jeremy

In this day and age, where poker staking is so common among players, you wouldn’t expect 2011 WSOP Main Event champion Pius Heinz to keep most of his $8.72 million prize. After all, most players sell shares of themselves to companies and friends in order to comfortably buy into as many poker tournaments as possible. However, Heinz will be able to keep around 70% of his winnings according to a German gossip website, which isn’t too bad by today’s standards.

The site, which refers to the Main Event champ as the Poker Pope Pius, wrote that Heinz sold $3,000 in shares of his $10,000 Main Event buy-in. Of course, as mentioned before, this is pretty standard among most players, and the average 22-year-old probably would have sold more shares to comfortably afford the WSOP ME buy-in.

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Heinz explained his thought process behind selling 30% of his action by saying, “$10,000 entry fee was a good deal, and I did not know that I’m ready (to win). Since it was my first live performance, I did not go with as much risk.”

Don’t feel too badly for Heinz though because, while he may be giving $2.61 million of his 2011 WSOP Main Event prize away, he will also be keeping $5.11 million to himself. And we mean the whole thing too because Heinz recently made an intelligent financial decision by moving to Austria right after winning the Main Event. What’s nice about this is that Austria doesn’t tax gambling winnings, so Heinz won’t have to pay any of his money to the government of Germany.

Essentially, he’s keeping more than somebody from the UK or United States would get even if they weren’t backed because he doesn’t have to pay taxes.

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