Bad beat of the year: The Danish government wants 73% of Peter Eastgate's WSOP winnings.
Peter Eastgate won $9,152,416 in the 2008 WSOP Main Event, but the question is how much of it he will get to keep.
Denmark has strict taxation rules for poker winnings - Eastgate has to pay 45% in taxes on winnings up to approximately $520 000 and 75% on the rest (over $8.5 million). The end result will be $6.6 million in taxes, if the Danish government gets what it wants.
Eastgate moved to England shortly after reaching the Main Event final table to protect his future winnings, but it's doubtful whether that will be accepted by the authorities.
Oh well, $2.5 million it still a lot of money for a 22-year-old Danish young-gun...
What I don't get is what the "authorities" can do about anything if he establishes his residence in England and none of the money ever enters or transits through the Danish banking system. They issue a warrant for his arrest? Will England extradite him for that? Really?