If you win a big pot, the Swedes will tax you a lot.
Isildur1 is probably the best-known unknown player in the history of online poker. The poker public, rabid for more information on the fearless player known only by his online handle, has come up with plenty of theories as to exactly why he hides his identity from the world, and they range from the banal to the unbelievable.
But if Isildur1 really is who many people seem to think he is - 19-year-old Swede Viktor Blom - then there’s a truly compelling reason for him to stay anonymous: he could owe hundreds of millions of dollars in taxes. Tax law in Sweden states that in games of chance, every wager can be taxed individually at a rate of 30%. Poker is considered a game of chance there, and every hand can be considered a new wager.
Getting an idea of the kind of sum Isildur1 could theoretically owe the government of Sweden requires a little bit of basic math: take the total number of hands he has played, multiply that figure by the average amount of money he has wagered on each hand, and then multiply that result by 30%. The average amount of money wagered isn’t available, but we do have one analog available: during the 33,303 hands played so far in the Durrrr Challenge, Patrik Antonius and Tom Dwan have together wagered $274,109,409, which works out to an average of $4,115.35 per player, per hand.
There aren’t any definitive numbers out there as to how many hands of nosebleed-stakes online poker Isildur1 has played, but one tracking site says he’s played upward of 294,000 hands of heads-up pot-limit Omaha and no-limit hold’em since October of last year. If his average wager is the same as Dwan’s and Antonius’ during their challenge, and the number of hands reported on the tracking site is correct, that would mean that Isildur1 has wagered a total of $1,209,912,900 during the last six months.
If we assume that the value of the pots Isildur1 has won is 49% of that total (since he has lost money overall), At 30% per wager, that works out to a tax bill of $177,857,196.30. And of course, if his average wager or the total value of pots won were higher or lower, that would either raise or lower the tax figure.
So, to recap: 294,000 (total hands played) X $4,415.35 (average wager) X 49% (value of pots won by Isildur1) X 30% (tax rate) = $177,857,196.30 tax bill.
It’s all theoretical, though - the existence of this tax law is a completely different animal than the Swedish government a) being able to prove that Isildur1 is indeed a Swede named Viktor Blom, b) being able to prove just how many hands of poker he has played and how much he has wagered, and c) actually bringing a case against Blom.
That means that, at least for the time being, Isildur1 is safe wherever it is that he’s hiding out. But he’d do well to remember the words of George Harrison: “I’m the taxman, and you’re working for no one but me.”