It is true today that there are many good Canadian poker players who find themselves winning cash by winning pot after pot in casino games. These games happen off-shore and Canadians win big. Poker players are disciplined players who refine strategies and work hard to be able to play the game well. Most of the best online players practice more than 30 hours a week and play all levels of competition from all over the world. These players deserve to win big. However, the question is, do they take home online poker winning money without tax cuts?

It is true that a player who wins a small amount of cash from online casinos do not have to pay taxes. These are casual players who sometimes win and sometime lose. However, for winning poker players, the rules of tax laws in Canada may vary.

Under Canadian law, if a poker player is a winner, and a big time pot winner at that, then he is subject to pay taxes. The law says that poker wins will be charged taxes, specifically if they are ‘income from a business.’

So, when does a poker player make his online poker winnings subject to taxes?

Well, online poker winnings will have to wait for a categorization since the Income Tax Act cannot provide an answer. There is also no case in the Income Tax Act to site an example where an individual poker player has become subject to an income tax.

So, the good news for ‘casual’ winning poker players in Canada is that your online poker winnings will not be taxed on the average, as long as no one suspects unusual activities. It is only when a poker player probably takes home millions of dollars from a poker pot in one sitting will you ever be tried and be subjected to an income tax by the government.

We all know that winning poker players would choose to delay the line in transitioning from a casual player to a pro so that there will be no paying income tax which a ‘professional’ has to make. One thing to be wary of when a winning player avoids being a professional are back taxes. So, if you are playing on a regular basis and winning a lot of cash, you may want to think about hiring a lawyer and declaring some of your online poker winnings as income.

This article is about opening your eyes to the implications of poker winnings and online tax. The best that you can do is get a good lawyer for your online poker winnings, especially if poker has really become your main source of income and way of life. Love the game, but be a responsible poker player. Good luck!

It was in 2003 when poker players all over the globe wanted to be like champion Chris Moneymaker. He won the World Series of Poker through betting $39 in an online virtual poker game. This spurned poker enthusiasts to go to their computer and recapture the same fate that Chris Moneymaker accomplished.

You would think that Chris Moneymaker’s achievement was a onetime deal, but the same thing happened to gaming champ Greg Raymer. Dubbed in the poker world as Fossilman, he was able to pull off what Chris Moneymaker did in 2004 at the same championship game.

So, there is really a big chance for making money online poker as Raymer also got his ticket to earn millions by beating everyone at an online poker tournament.

It is inspiring for online poker enthusiasts to know that in the World Series Poker, the 10 finishers came from a an online poker site.

Once you have started the routine of making money online poker, you don’t stop. Even Chris Moneymaker revealed that inspite his deals, book launches and his pro poker player label, he still goes to making money through online poker sites and play. It is pretty exciting if you think that someone like you can come and compete at a virtual online poker table where Chris Moneymaker or Greg ”Fossilman” Raymer is playing.

There are also ordinary poker players that you will encounter in the game. These players are typically and generally classified as low-stakes gamers. Players considered low stakes gamers are those poker gamblers that have yet to win big in a game. Some people hardly break even in their winnings and some admit to losing all the money they have wagered, but these people still enjoy the game and the money spent playing is considered money well spent. For the entertainment and relaxation derived from online poker, you can say that losing a few hundred dollars is truly money well spent.

Television and legitimate networks have helped boost the popularity of online poker sites.

Poker tournaments can be regularly seen in primetime schedules of networks like Bravo and even the Travel Channel. In turn, this inspires what is estimated to be two million people playing online.

As much as people enjoy watching poker games on TV, they also want to enjoy playing it, which is what making money online poker sites are there for. So do your best to be good at poker and you might be the next Mioneymaker transitioning from online gambling to becoming a pro poker superstar! Good luck with that!

The buzz and the excitement that surrounds high stakes online poker are wide and far-reaching. You are probably curious as to how high stakes online poker started, which is why we are giving you a bit of history about its origin.

High stakes online poker was inspired by a very popular television program which was shown on a cable TV network called GSN. The show was produced and broadcasted in the United States of America.

The show featured a type of poker variant similar to the no limit Texas Hold’ em poker game. It is in its sixth season and the first show of the that season was done on February 2010. The season lasted until May 9 of the same year.

The land-based and television version of the high stakes online poker game was hosted by Golden Nugget Las Vegas back in 2006. The game was shot in 13 episodes and was hosted by pro poker player and comedian Gabriel Kaplan and AJ Benza.

Every year, the High Stakes Poker game changes venue but remains in Vegas all through the years. The show also enjoys having big time poker players who are experts in the game.

The games are truly high stakes and the minimum buy-in would rake as much as half a million! It has been said that the tables in these shows would see millions and millions in cash exchanged at some point in the game.

Who are the poker personalities that have graced the High Stakes Poker tournaments?

You may know a few names including Jamie Gold, Paul Wasicka, David Benyamine, Brian Townsend, Doyle Brunson, Daniel Negreanu, Sammy Farha, Patrik Antonius, Brad Booth, Chris Ferguson, Phil Lassk, Mike Matusow, Phil Ivey, Barry Greenstien and Erick Lindgren to name a few.

High Stakes Poker

In 2006, when High Stakes Poker was launched, it was different from other poker events because it was in a tourney setting. The show looked more like a WWE game and the players were in a ring.

The minimum amount of buy-in was (of course as the name implies) a high stake sum of US $100,000. Some players would buy in for US $ 1,000,000, which is what Daniel Negreanu did. In later seasons, the minimum buy-in would take a meteoric rise of up to US$500,000!

The players in these land-based high stakes online poker games are a mix of hardcore poker players, hotshot celebrity gamers and beginners. These players were paid $1,250 an hour for taking and participating in the event. The games took 24 hours to play and the shots are then edited down to 13 episodes. So when you think of playing high stakes online poker, perhaps it would be a great idea to watch the series where the online game was derived from!

The players include poker professionals along with amateurs such as Jerry Buss and Fred Chamanara. The show was created by executive producer Henry Orenstein. In season one, Daniel Negreanu confirmed in a post on his website's forums that all players were paid $1,250 per hour for taking part and that 13 episodes were edited down from 24 hours of actual play. The 2006 WSOP Main Event Champion Jamie Gold commented that players were paid for participating, though they had to put much more money at risk to get to play the game. Gold also spoke about his interactions with other players, particularly Mike Matusow. The theme song for the show is titled "I'm All In", written and performed by John Pratt, Los Angeles.