Splitting doesn't even make sense as the winner will be taxed for the money that they should get and not what they actually got.
Is Efren playing for the whole 500K?
- Thread starter Celtic
- Start date
GADawg said:
It is very possible that other players had such deals in place before the event and have in the past. The reason I singled out Efren is because the Fillipinos tend to stick together and support each other alot. They tend to play on teams with each other more, they tend to have more of a focus on playing for their country and pride in their fellow countrymen then other countries tend to.
Thats why I asked specifically about Efren and not Rodney. For all I know Rodney had the same types of things going as well, who cares. I was not keying in on race, I was keying in on a close nit group of countrymen that show more connection and support then others I see. If you are trying to twist this into some kind of racial thing then I suggest you calm your head down, thats not what this is about and you seem a little too quick to jump onto the PC soapbox.
I have been TOLD by someone in the know, that this type of deal DOES exist with SOME of the Philippino players. It is NOT a "dumping" situation, more of a sharing (Not 50%). The deal is more the making of a shared sponsor, not the players themselves. It caused quite a stir recently when a player won some real money (not compared to the IPT), but more than he had ever won, and didn't want to give any of it up.
Celtic said:
You remind me of the vampire who, when caught, protested, all the while fresh blood dripping from his fangs...
StiffStick
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jsp said:
While you're absolutely right about Efren having 100's of relatives in the Philippines who will all have their hand out when he returns, you are wrong on all the other counts. The original post by Celtic was dead on. Filipinos almost invariably look out for each other, especially when they are playing on the road. There is no question that Efren will give some of his winnings to Bustamante and Orcullo, and perhaps some of the other Filipinos who played in the IPT. And they will give some of theirs to him. I believe they work it on a percentage basis. It's not like it's very strange for this to happen. Filipinos treat each other like brothers when they're away from home and the money gets spread around. It's a cultural thing that outsiders may not understand, but it does happen.
That being said, whatever's left over for Efren will be a substantial amount in the Philippines. There will be no shortage of rice in the Reyes house for the foreseeable future.
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Not to defend, but I think some of you guys took that post the wrong way. I could be wrong, but I think he just meant partnering up and splitting.
When I go to a tourny with a buddy of mine, we split whatever we win. We don't dump to eachother or anything. If we meet in the tourney we play. Just split the winnings later.
I think that the first post was meant in an honest way. I could be wrong...
Mike
When I go to a tourny with a buddy of mine, we split whatever we win. We don't dump to eachother or anything. If we meet in the tourney we play. Just split the winnings later.
I think that the first post was meant in an honest way. I could be wrong...
Mike
Also, unless something has changed Efren and Orcollo arent exactly friends. From what I hear Marlon, and Orcollo are pretty seperated from the rest. (Marlon, and Dennis not together either.)
I do believe that Efren, busta, and Ronnie came together though.
I do believe that Efren, busta, and Ronnie came together though.
I think only Busta, Reyes and Pagulayan are sponsored by Puyat Sports. Not quite so sure about the other players. All of them, did quite pretty good. They all broke the $5K(this is already a middle-class annual earning in the Philippines) winning. I think with the bigger money on the line splitting is no longer that necessary. I do understand it with the small tournament, that even placing 3rd might not be enough to cover your expenses.
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jwpretd said:
I don't know about how they treat taxes in Nevada....
I do have a friend that fights the real Ultimate Fighting Matches (not the sissy tv kind) and he recently won $150k US in Taiwan. By the time the governments in Taiwan and the U.S. got done he had less than $70k
(The Philippine Govt. will get their share also)
Efren is a nice guy and I wish he could keep every dime he earned, but it's not allowed in our world
Big Brother always withholds 30% of earning by foreigner. Then the player has to file income tax in the US based on the net amount after the player's respective country taxed his winning. If your from Germany, I think England also, you only get to be taxed once; wherever, the money originated.
Ruthless said:If the winner even gets half the $500k he'll be doing Great! Uncle Sam gets 1st shot @ the Cash and it falls into the 50%+ tax bracket. That place in Reno prob looked like an IRS convention this week as much as a pool tourney
There is no 50% tax bracket. The highest is currently about 39%, which is damn high.
Lol
This is such a funny post.....gee, I hope Efren is left with at least a hundred bucks in his pocket after winning $500,000.......!
nbc said:He play's for the whole prize everytime... but, with a percentage going to his manager, a percentage going to his Sponsor, a percentage mixed in for "balato" (rough translation: sharing your winnings with family and friends), and the rest going to his wife... Efren probably won't have much left in his pocket.
This is such a funny post.....gee, I hope Efren is left with at least a hundred bucks in his pocket after winning $500,000.......!