History
William E. (Billy) Baxter, Jr., had been a gambler since the age of fourteen. For the tax years in question (years 1978 through 1981), both Baxter and the government agreed that Baxter was engaged in the activity of gambling as a "professional gambler." The parties agreed that Baxter devoted a substantial amount of time to his gambling activity, which was poker. Baxter was a pioneer in professional poker who later went on to win seven World Series of Poker bracelets. He was inducted into the Poker Hall of Fame in 2006. Between 1978 and 1981, Baxter claimed $1.2 million in gambling winnings.
Read more about this topic: Baxter V. United States
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