William Baxter

William Baxter is an American professional poker player from Augusta, Georgia, with over $3.2 million in live tournament earnings. His best live cash of $473,212 came when he finished 2nd at the 54th WSOP in June 2023. He is also a Hall of Famer, inducted in 2006. During his career, William has won seven WSOP bracelets.

William Baxter: Early Life

At just 14, he started hustling Pool, and by the time he was 16 in 1956, he had impressively saved up $5,000 from his winnings. When he turned 18, he began visiting taverns, where he discovered poker. However, in the early years, he found himself in a frustrating cycle, winning money from Pool but then losing it in poker. In his 20s, Baxter owned an underground casino called the Paisley Club, but it was eventually shut down by a new sheriff.

After that, he opened another casino outside of town, but it was also shut down by authorities due to legal issues. Baxter had been offering “unofficial” Roulette and Blackjack games, which violated gambling regulations. As a result, he was sentenced to serve nine months in jail. Before starting his sentence, Baxter made a weight loss prop bet, aiming to drop from 205 pounds to 165. After finishing his time in jail, he went straight to Las Vegas to weigh in. The scale showed 162 pounds, and Baxter collected $10,000 from the bet.

In 1975, Baxter went on his honeymoon to Hawaii and passed through Las Vegas on his way back. That same year, in May, he played in his first live tournament at the 6th WSOP and won his first bracelet. He fell in love with Vegas and ended up spending nine months in a hotel with his new wife, playing poker for a living.

William’s Gambling Income Taxation

He fought a landmark tax case against the U.S. government in 1986. The case, Baxter v. United States, resulted in a decision that allowed professional gamblers to treat their gambling winnings as business income, meaning they could deduct expenses and losses, and put winnings into retirement funds.

Baxter initially paid a 50% tax on his poker earnings in the 1970’s but was later hit with an additional 20% tax by the IRS, claiming gambling was pure luck, not earned income. Baxter fought back, and after a long legal battle, the government dropped the case, returning his money.

William Baxter: Live Tournament Participation

William Baxter’s first recorded live cash occurred in May 1975 at the 6th WSOP in Las Vegas. He finished in 1st place in a $5,000 No Limit Deuce to Seven Draw, winning $35,000.

In May 1987, William played in a $5,000 No Limit Deuce to Seven Draw at the 18th WSOP. He clinched another bracelet and won $153,000.

Fast forward to April 2008. At the WPT World Championship, he won $149,755. In this event, William engaged in a $2,500 + 120 No Limit Hold’em and finished in 1st place.

Following this, William joined in a $25,000 + 500 No Limit Hold’em – Championship Event at the Eight Annual Five Star World Poker Classic in April 2010. He placed 5th and earned $246,921.

At the WPT L.A. Poker Classic in February 2017, he cashed $173,580. William participated in a $1,100 No Limit Hold’em #44 and secured 3rd place.

Six years later, in June 2023, he entered in a $1,000 No Limit Hold’em – Seniors Championship Bracelet Event 48. He placed 2nd and secured his biggest live cash to date of $473,212.

In a recent appearance in September 2024, William competed in a $120 +50 No Limit Hold’em – Progressive Bounty at the EA Poker Tour Georgia. He ended up in 19th place, earning $160.

Bill Other WSOP Bracelets

• May 1978: $10,000 No Limit Deuce to Seven Draw at the 9th WSOP ($90,000)
• May 9th, 1982: $2,500 No Limit Ace to Five Draw at the 13th WSOP ($48,750)
• May 10th, 1982: $10,000 No Limit Deuce to Seven Draw at the 13th WSOP ($95,000)
• May 1993: $5,000 No Limit Deuce to Seven Draw at the 24th WSOP ($130,500)
• May 2002: $1,500 Razz at the 33rd WSOP ($64,860)

Conclusion

William Baxter’s journey in poker is remarkable, showcasing his resilience and talent. From starting as a pool hustler in his teens to becoming a successful professional player, he has earned over $3.2 million in live tournaments, including several prestigious WSOP bracelets. His fight for fair taxation for professional gamblers set a significant legal precedent, allowing them to treat their winnings as business income. With a passion for poker that began decades ago, Baxter continues to compete and leave his mark on the game.