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Billy Baxter (poker player)
Encyclopedia
William E. Baxter, Jr. (born 1940) is an American
professional poker
player and sports bettor. He has won numerous tournament titles in his career as a professional poker player, including seven World Series of Poker bracelets.
He was inducted into the Poker Hall of Fame
in 2006.
, Baxter started his gambling career like many others of his age by gambling in the pool halls. When he was 14 he discovered he had a talent for hustling pool games.
By the time he was 16, he had saved $5,000 from his hustling money, and when he turned 18 he was old enough to head to the taverns, where he discovered his next big love - poker.
and ended up in Las Vegas
on the way back. He and his new bride lived in a hotel there for nine months while Baxter played poker for a living. It was there that he met fellow legends Doyle Brunson
, Puggy Pearson
and eventually Stu Ungar
.
Baxter has won seven World Series of Poker
bracelets. As of 2010, he ranks alongside Men Nguyen
(7) and just behind Phil Ivey
and Erik Seidel
(with 8), Johnny Moss
(9), Johnny Chan
, Doyle Brunson
(10 each) and Phil Hellmuth
(11). All of Baxter's bracelets are in lowball
games, notably Razz, Deuce-to-Seven and California Lowball (draw).
Baxter is also known for staking Stu Ungar
to the buy-in for Ungar's victory in the main event of the 1997 WSOP. Thereafter, he entered into an arrangement to stake Ungar in tournaments, but this was cut short by Ungar's continuing personal problems which led to the latter's death in 1998.
As of 2011, his total live tournament winnings exceed $2,300,000. His 30 cashes at the WSOP account for $1,082,304 of those winnings.
It was the judge's ruling that Baxter's poker winnings should be classified as "earned income" contrary to its previous classification of "unearned income" which was taxable up to 70 percent. Thus, in the process, Baxter's victory in this case has helped all American poker players by providing equal tax status to those earning a living as professional poker players.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
professional poker
Poker
Poker is a family of card games that share betting rules and usually hand rankings. Poker games differ in how the cards are dealt, how hands may be formed, whether the high or low hand wins the pot in a showdown , limits on bet sizes, and how many rounds of betting are allowed.In most modern poker...
player and sports bettor. He has won numerous tournament titles in his career as a professional poker player, including seven World Series of Poker bracelets.
He was inducted into the Poker Hall of Fame
Poker Hall of Fame
The Poker Hall of Fame is the hall of fame of professional poker playing in the United States. Founded and located in Las Vegas, Nevada, it was created in 1979 by Benny Binion, the owner of the Horseshoe Casino, to preserve the names and legacies of the world's greatest poker players and to serve...
in 2006.
Early Life
Born in Augusta, GeorgiaAugusta, Georgia
Augusta is a consolidated city in the U.S. state of Georgia, located along the Savannah River. As of the 2010 census, the Augusta–Richmond County population was 195,844 not counting the unconsolidated cities of Hephzibah and Blythe.Augusta is the principal city of the Augusta-Richmond County...
, Baxter started his gambling career like many others of his age by gambling in the pool halls. When he was 14 he discovered he had a talent for hustling pool games.
By the time he was 16, he had saved $5,000 from his hustling money, and when he turned 18 he was old enough to head to the taverns, where he discovered his next big love - poker.
Poker Career
In 1975 he took a honeymoon trip to HawaiiHawaii
Hawaii is the newest of the 50 U.S. states , and is the only U.S. state made up entirely of islands. It is the northernmost island group in Polynesia, occupying most of an archipelago in the central Pacific Ocean, southwest of the continental United States, southeast of Japan, and northeast of...
and ended up in Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
on the way back. He and his new bride lived in a hotel there for nine months while Baxter played poker for a living. It was there that he met fellow legends Doyle Brunson
Doyle Brunson
Doyle F. Brunson is an American professional poker player who has played professionally for over 50 years. He is the first two-time World Series of Poker main event champion to win consecutively, a Poker Hall of Fame inductee, and the author of several books on poker.Brunson is the first player to...
, Puggy Pearson
Puggy Pearson
Walter Clyde Pearson was an American professional poker player. He is best known as the 1973 World Series of Poker World Champion.-Early years:...
and eventually Stu Ungar
Stu Ungar
Stuart Errol "Stu" Ungar was a professional poker and gin rummy player, widely regarded to have been the greatest Texas hold 'em and gin rummy player of all time....
.
Baxter has won seven World Series of Poker
World Series of Poker
The World Series of Poker is a world-renowned series of poker tournaments held annually in Las Vegas and, since 2005, sponsored by Harrah's Entertainment...
bracelets. As of 2010, he ranks alongside Men Nguyen
Men Nguyen
Men "The Master" Nguyễn is a Vietnamese-American professional poker player.-Early years:In 1967, he dropped out of school at age 13 and became a bus driver to help support his family. In early 1978, a staunch anti-Communist, he escaped from the Communist regime of Vietnam by boat and sailed with...
(7) and just behind Phil Ivey
Phil Ivey
Phillip Dennis "Phil" Ivey Jr. is an American professional poker player who has won eight World Series of Poker bracelets, one World Poker Tour title and appeared at nine World Poker Tour final tables...
and Erik Seidel
Erik Seidel
Erik Seidel is an American professional poker player from Las Vegas, Nevada who has won eight World Series of Poker bracelets and a World Poker Tour title.In 2010, he was inducted as a member of the Poker Hall of Fame.-Early life:...
(with 8), Johnny Moss
Johnny Moss
Johnny Moss was a gambler and professional poker player. He was the first winner of the World Series of Poker Main Event, at the time a cash game event in which he was awarded the title by the vote of his peers in 1970, He also twice won the current tournament format of the WSOP Main Event in...
(9), Johnny Chan
Johnny Chan (poker player)
Johnny Chan rather than his Chinese birth name. born in Guangzhou, China in 1957) is a Chinese American professional poker player. He has won 10 World Series of Poker bracelets, including 1987 and 1988 World Series of Poker main events consecutively....
, Doyle Brunson
Doyle Brunson
Doyle F. Brunson is an American professional poker player who has played professionally for over 50 years. He is the first two-time World Series of Poker main event champion to win consecutively, a Poker Hall of Fame inductee, and the author of several books on poker.Brunson is the first player to...
(10 each) and Phil Hellmuth
Phil Hellmuth
Phil Hellmuth is an American professional poker player. He is best known for holding a record 11 World Series of Poker bracelets, for winning the Main Event of the 1989 World Series of Poker and for his temperamental, "poker brat" personality...
(11). All of Baxter's bracelets are in lowball
Lowball (poker)
Some forms of poker, often called lowball, sometimes called low poker, reward poor poker hands . There are four common variations on this idea, differing in whether aces are treated as high cards or low cards, and whether or not straights and flushes are used. The methods are:* Ace-to-five low:...
games, notably Razz, Deuce-to-Seven and California Lowball (draw).
Baxter is also known for staking Stu Ungar
Stu Ungar
Stuart Errol "Stu" Ungar was a professional poker and gin rummy player, widely regarded to have been the greatest Texas hold 'em and gin rummy player of all time....
to the buy-in for Ungar's victory in the main event of the 1997 WSOP. Thereafter, he entered into an arrangement to stake Ungar in tournaments, but this was cut short by Ungar's continuing personal problems which led to the latter's death in 1998.
As of 2011, his total live tournament winnings exceed $2,300,000. His 30 cashes at the WSOP account for $1,082,304 of those winnings.
World Series Of Poker Bracelets
| Year | Tournament | Prize (US$) |
|---|---|---|
| 1975 1975 World Series of Poker -Preliminary events:-Main Event:There were 21 entrants to the main event. Each paid $10,000 to enter the tournament. First Main Event to award winner with a gold bracelet.-Final table:... |
$1,000 Deuce to Seven Draw | $35,000 |
| 1978 1978 World Series of Poker The 1978 World Series of Poker was held in May 1978 at Binion's Horseshoe. and was the first WSOP that wasn't a winner-take-all prize.Instead the tournament had a progressive prize structure, as follows 50% for the Winner then 20% for second, 15% for third, 10% for fourth and 5% for fifth... |
$10,000 Deuce to Seven Draw | $90,000 |
| 1982 1982 World Series of Poker -Preliminary events:-Main Event:There were 104 entrants to the main event. Each paid $10,000 to enter the tournament. Jack Straus beat Dewey Tomko to win. -Final table:-Other High Finishes:... |
$10,000 Deuce to Seven Draw | $95,000 |
| 1982 1982 World Series of Poker -Preliminary events:-Main Event:There were 104 entrants to the main event. Each paid $10,000 to enter the tournament. Jack Straus beat Dewey Tomko to win. -Final table:-Other High Finishes:... |
$2,500 Ace to Five Draw | $48,750 |
| 1987 1987 World Series of Poker -Preliminary events:-Main Event:There were 152 entrants to the main event. Each paid $10,000 to enter the tournament.-Final table:-Other High Finishes:NB: This list is restricted to top 30 finishers with an existing Wikipedia entry.... |
$5,000 Deuce to Seven Draw | $153,000 |
| 1993 1993 World Series of Poker -Preliminary events:-Main Event:There were 220 entrants to the main event. Each paid $10,000 to enter the tournament.-Final table:-Other High Finishes:NB: This list is restricted to top 30 finishers with an existing Wikipedia entry.... |
$5,000 Deuce to Seven Draw | $130,500 |
| 2002 2002 World Series of Poker The 2002 World Series of Poker was held at Binion's Horseshoe.This edition was historically notable for two reasons. It was the first WSOP in which pocket cams were installed to allow broadcasters to show the players' hole cards, although only for the Main Event... |
$1,500 Razz Razz (poker) Razz is a form of stud poker that is normally played for ace-to-five low . The object of Razz is to make the lowest possible five-card hand from the seven cards you are dealt. In Razz, straights and flushes do not count against the player for low, and the ace usually plays low... |
$64,860 |
Baxter's Poker Income Court Case
Although Baxter is best known for his on-table poker accomplishments and the aforementioned staking of Stu Ungar, it's his landmark case of William E. Baxter Jr. vs. the United States that will forever cement his status as one of the most influential poker players of all-time.It was the judge's ruling that Baxter's poker winnings should be classified as "earned income" contrary to its previous classification of "unearned income" which was taxable up to 70 percent. Thus, in the process, Baxter's victory in this case has helped all American poker players by providing equal tax status to those earning a living as professional poker players.