WSOP 2021: Koray Aldemir's Tax Victory and Other Winners' Tax Hits

Koray Aldemir won $8,000,000 at the WSOP 2021 Main Event. By moving from Germany to Austria, he avoided paying taxes on his winnings, saving $3.7million in taxes. Koray Aldemir moved from Germany to Austria to avoid paying taxes on his winnings. The tax implications for other winners varied significantly. Hossein Ensan, who won $10million in 2019, paid $4,606,469 in taxes. George Holmes, the runner-up, will pay over $1.8million in taxes on his $4.3million prize.

Jack Oliver kept his full $3million prize due to the US-UK tax treaty. Ozgur Secilmis will owe $699,575 in taxes on his winnings. Alejandro 'PapoMC' Lococo will have $428,750 deducted from his $1,225,000 prize. Joshua Remitio will keep $1,295,607 after taxes. Hye Park will owe just over $650,000 in tax and keep $749,709 of his winnings. Chase Bianchi will have $375,643 deducted from his $1million prize.

These tax obligations highlight the significant impact of tax treaties and residency on poker winnings. Players from countries with favorable tax treaties, such as Austria and the UK, were able to keep their full prizes, while those from countries without such treaties faced substantial tax deductions.