splitting the pot
- Thread starter billlaur
- Start date
Not again. It doesn't make sense because Efren will still be taxed for the full amount. Imagine this for the 600,000 pot for 1st and 2nd, if you split it into 2, Efren will only take home only 150,000 (600 / 2 - 150(30% witholding tax of 500(what he's supposed to get)) = 150).
The same under the table deal the you do in small tournament is no longer that easy when Big Brother eyes is on you.
The same under the table deal the you do in small tournament is no longer that easy when Big Brother eyes is on you.
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billlaur said:
Even if they did agree I doubt you would have heard about it because pot splitting is cause for being kicked out of the IPT and I doubt they would risk that by letting people that they didn't trust to keep quiet know about the deal.
crosseyedjoe said:
I have to agree with what you stated above... but out of curiousity i would love to know what his backer (PUYAT SPORTS) cut is. and if it is before or after taxes are taken out...............................mike
cueball1950 said:
According to the posters in the matchroom forum, Puyat does NOT take any cut in his players' winnings. Whatever Efren, Django and Alex win, they get to keep everything even though Puyat sponsors them (plane trips, allowance, etc). I believe his contributions are considered tax deductible in the Philippines.
Perry Mariano's stable on the other hand is composed of Orcollo, Alcano, Gabica, etc. I am not sure if he earns a percentage out of his player's winnings.
Marlon Manalo is considered the 'lone wolf' among the group.
If we apply the 30% tax to both (assuming RM would pay the same rate) they where in effect playing for 70k or 350k, 420k total.
I think I'd have split it 220/200 or 150/270 given an extra 100k was also on offer to the winner. 150k minimum is an aweful lot better than 70k after a week like that!
Would you open the box in deal or no deal if you had 500k and 100k sat there and the banker offered you 220k?
I don't think there's anything wrong whatsoever with players splitting the pot and I doubt off the record the IPT does either.
I think I'd have split it 220/200 or 150/270 given an extra 100k was also on offer to the winner. 150k minimum is an aweful lot better than 70k after a week like that!
Would you open the box in deal or no deal if you had 500k and 100k sat there and the banker offered you 220k?
I don't think there's anything wrong whatsoever with players splitting the pot and I doubt off the record the IPT does either.
Puyat Sports don't get a cut out of the winning. It's actually more of an endorsement deal than sponsorship.
I'm not sure about the Europeans, but most top Asian players have the same kind of deal from their backer. In Taiwan being a good pool player is actually a "living-wage" career.
I'm not sure about the Europeans, but most top Asian players have the same kind of deal from their backer. In Taiwan being a good pool player is actually a "living-wage" career.
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TheOne said:
That's probably fine, only if American taxation is as simple as you put it. BTW, RM tax is calculated differently because he lives in the USA.
If you watched the match online or in person, you wouldn't believe that they agreed to split the pot. Efren just looked too darn nervous to think that his efforts were inconsequential...monetary-wise.billlaur said:
Did you see how he missed two 8balls?...missed CB positioning time after time? Did you see how Efren yelled out after almost missing position on the last 8? Did you see how he reacted after making the last 8? It surely looked like a man that had $350k on the line.
I'm just saying that if it didn't make any difference, money-wise, if he won or lost the match, then he most likely wouldn't have looked or played as nervous.TheOne said:Do you think he would have been any less animated if 100k, or 150k plus trophy, plus champion, plus KOTH was on the line?
If you were guaranteed $325k ([500k+150k]/2) no matter if you won or lost the match, I would be pretty calm.
ps...though, I forgot about guaranteeing KOTH. Good point.
jsp said:
I agree, Efren was nervous. That's why he said he was having trouble positioning the cue ball. I don't think he will be if he is just playing for show. Try to think that this is the biggest money so far in pool and you are just 8 racks away from it.
jsp said:I'm just saying that if it didn't make any difference, money-wise, if he won or lost the match, then he most likely wouldn't have looked or played as nervous.
If you were guaranteed $325k ([500k+150k]/2) no matter if you won or lost the match, I would be pretty calm.
ps...though, I forgot about guaranteeing KOTH. Good point.
I hear you JSP, my feeling is that they split it to make it a sweeter split but they prob still left 50-100k difference + the KOTH of course. Thats still a lot to play for, even the 100k KOTH cash is more money than most have played for in their lives don't forget. Hey I saw Efren get angry for a poxy 200 so I don't doubt he would be trying no matter what the split. Add to that the cameras, audience etc and you'd be suprised how it effects even the likes of Efren.
