Espen Jorstad dominated the second-largest field in the main event in World Series of Poker history of cashing in a whopping $10 million first-place prize.
But how much of that money did Jorstad actually pocket for himself? Has he sold parts or does he have backers? Action with other players? What about taxes?
It turns out Jorstad had no problem sharing the numbers. The 34-year-old online poker streamer revealed his summer stats on Twitter, explaining that he traded with 14 different players. The trades ranged from 1% ($100,000) to 7.5% ($750,000) and left Jorstad with 56% of his own share ($5.6 million).
Of course, it’s likely that a few of the other 14 players also cashed in the main event, giving Jorstad a discount on some of those trades.
“Very pleasant feeling of making a lot of money for my friends!” Jorstad said.
Norway has a gambling tax rate of 28%, which would have accounted for $2.8 million of the total payout, or $1,568,000 on his part.
Fortunately, the Norwegian will not be hit with any taxes as he now resides in the UK. The UK does not tax gambling winnings. It is following in the footsteps of last year’s champion Koray Aldemir, who dodged a hefty tax bill from his native Germany by living in neighboring Austria instead.
Jorstad also showed modest upside in the 15 tournaments he played before the main event. At one point he had played 10 tournaments in a row without winning any money, but he broke the streak in a big way, winning his first WSOP bracelet in the $1,000 team event.
Jorstad teamed up with fellow online poker player Patrick Leonard to win the tournament and $74,033 apiece. That was enough to turn his summer around and end with a profit of $29,690 before the main event kicked off at $10,000.
Final numbers for the Vegas summer!
Excluding the principal, I ended up +$29,690 live, and maybe +$10,000 to $15,000 online.
For complete transparency, I had 14 different trades (all between 1% and 7.5%) overall, and ~56% of my own action. Very nice feeling to earn a lot of money for my friends! pic.twitter.com/QtU2qoJ5lX
— Espen Uhlen Jørstad (@UhlenPoker) July 26, 2022
When asked what he intended to do with the money, the Run it once The trainer said he will invest heavily in tech stocks and cryptocurrency, and hopes to participate in more High Roller events.
“I dipped my toes in, but now I have a bigger bankroll to take a few hits in these tournaments. I have to get into the lab and make sure I’m good enough to play them.
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