Isildur1 "May" Face $150 Million Tax Bill
Isildur1 was recently revealed to be Viktor Blom at the Pokerstars Caribbean Adventure. Many had speculated that the reason Blom hadn't come forward as the Swedish online phenom was that he did not want to be hit with a huge tax bill.
Well, it appears that he had a reason for concern.
According to newspaper reports in Sweden this past weekend, it's highly possible Isildur1 will be investigated and, if the case is pursued, he could owe Swedish tax authorities as much as $150 million in taxes.
Swedish tax law states that players living in Sweden must pay a tax on online gambling winnings from any site not headquartered in the European Union or not from the state-run Svenska Spel.
Recent reports have claimed that online poker sites based outside of Sweden would soon be investigated by Skatteverket, the Swedish Tax Authority.
Where does the $150 million figure come from? Essentially, players that play on sites outside of the European Union must pay a tax of 30% on each individual pot won. Profit and loss from play is not considered when tracking these pots.
As such, Blom is estimated to have "won" around $4.5 billion in pots on Full Tilt Poker, accounting for the $150 million tax bill.
If Blom is indeed assessed a massive tax bill from Skatteverket, this would add insult to injury to his days at Full Tilt. Blom is estimated to have lost over $2.5 million at the nosebleed-stake tables at the site before signing with PokerStars in December.
Blom is originally from Ed, Sweden but now resides in London, England. Fortunately, he will not have to worry about being taxed for his winnings in England as it does not tax gambling income.