What is this worth?

PROG8R

PROG8R

Gator Nation
Silver Member
I read on the main page that GYK won:

During this hard-fought event, eventual winner Ga-Young Kim of Korea trounced another local bet Chieh-Yu Chou (9-4) in the semi-final matches to arrange a titular showdown with Liu. Despite the home court advantage, Kim crushed Liu (9-5) to bag the championships trophy plus the top prize worth 100,000 Taiwanese Dollars in the event dubbed as Pro Women's Invitational 9-ball. Liu settled for the runner-up prize worth 60,000 Taiwanese Dollars. While losing semi-finalists Amit and Chou, each received 40,000 Taiwanese Dollars for their efforts.

My guess is around $1500 or so US?
 
Well, you also have to take into consideration where they intend to spend their money. Simply using a conversion calculator to ascertain the value of a foreign currency will give it an American value. That is to say, how much is 100,000 Taiwanese dollars worth if they brought it here to spend? Even though it may be $3,030, it likely has different value in Taiwan. I wanna know, how many months' rent can you pull off with 100,000 Taiwanese dollars!
 
Jude Rosenstock said:
Well, you also have to take into consideration where they intend to spend their money. Simply using a conversion calculator to ascertain the value of a foreign currency will give it an American value. That is to say, how much is 100,000 Taiwanese dollars worth if they brought it here to spend? Even though it may be $3,030, it likely has different value in Taiwan. I wanna know, how many months' rent can you pull off with 100,000 Taiwanese dollars!
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Very much a legit point, Jude. You can understand why they enjoy playing over here. A $10K win here is like 300K T-dollars. I wonder if they have to pay any kind of tax/assessment on the cash they win here?
 
i know that a 10k$ win at casinos are reported but im not sure if they consider tournament payouts as gambling winnings or not....i would hope not,does anybody know for sure?
 
PROG8R said:
I read on the main page that GYK won:

During this hard-fought event, eventual winner Ga-Young Kim of Korea trounced another local bet Chieh-Yu Chou (9-4) in the semi-final matches to arrange a titular showdown with Liu. Despite the home court advantage, Kim crushed Liu (9-5) to bag the championships trophy plus the top prize worth 100,000 Taiwanese Dollars in the event dubbed as Pro Women's Invitational 9-ball. Liu settled for the runner-up prize worth 60,000 Taiwanese Dollars. While losing semi-finalists Amit and Chou, each received 40,000 Taiwanese Dollars for their efforts.

My guess is around $1500 or so US?
Click to expand...

Today it is worth:

Universal Currency Converter? Results Using live mid-market rates.
Using live mid-market rates. More currencies...

Printed from the XE Universal Currency Converter at: www.xe.com/ucc
Memo: .......................................................................................................................................................................

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Live rates at 2007.08.16 19:41:33 UTC
100,000.00 TWD = 3,009.60 USD
Taiwan New Dollars United States Dollars
1 TWD = 0.0300960 USD 1 USD = 33.2270 TWD

New! XE.com Forex Speculation. Click here!!
 
outside the capital, you can find pretty decent apartments for 200-300 a month. Eats are cheap too. It's not as cheap as other parts of asia but 3k definitely goes a long way (no rent for almost a year sounds fine to me)
 
dimes33 said:
i know that a 10k$ win at casinos are reported but im not sure if they consider tournament payouts as gambling winnings or not....i would hope not,does anybody know for sure?
Click to expand...

On any wins over 10k tell them your going to play on the tables and get chips.It is not then reported when you cash in chips at different times.2x5k Most events are at casinos and they are more than willing to hand you chips with you not signing the 1099.This is as you have not completed the gamble process. I would think the $3000 would be valued there as 15,000 as the cost to purchase is so low.-500%
 
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