The poker and casino gambling industry in the U.S. may be finally getting some deserved recognition from governmental authorities now that the Internal Revenue Service has announced it will be implementing a new tax schedule for winnings derived from poker tournaments.  Considering there are already tax schedules in place for reporting and claiming gambling winnings and losses at regulated casinos, the announcement to do so for poker tournaments alone most certainly gives the tournament circuit a certain degree of legitimacy, albeit at a cost.

The 2006-2007 Priority Guidance Plan released by the IRS on August 15, mentions over two-hundred and sixty projects that it plans to create tax schedules for, based on changes and demands within the economy.  And now that poker tournaments are exchanging billions of dollars on a yearly basis, government officials are taking note that much of this money could be going back into its own federal pocket. Some casino gambling analysts are predicting the poker tax schedule to get buried under the other proposed projects, however, the current agenda of new tax schedules is nothing out of the ordinary.

Although many poker players do not support such an action by the IRS, there are many poker industry insiders who say that by getting the IRS to instill tax schedules opens the door for more groundwork and regulation that will help the poker circuit to become a legitimate sport.  Some are saying it would not be too far-fetched to put a National Poker Tour on the same scale as the PGA or NHL. With the popularity of televised poker tournaments having a global reach, online poker becoming  more than a fad, and with more and more casinos, including Indian Casino reservations, building poker rooms and hosting poker tournaments, there is no question that poker's popularity has skyrocketed in the last ten years.

Of course poker is not as popular as professional golf or hockey...just yet. At the rate that poker has grown in popularity, it could very well become more popular than other global professional sports leagues. When the World Poker Tour began in 1972, the final tournament guaranteed a prize pool of $80,000 because there were only eight entrants who put up the $10,000 buy-in.  Nowadays, that same poker tournament - with the $10,000 buy-in still in effect - is drawing over 23,000 players per tournament and dolling up over $53 million.  No wonder the IRS is finally taking notice.