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Why Poker Players Should Donate to Charity

PokerNews recently reported that Gershon Distenfeld will donate the post-tax proceeds from his WSOP Main Event final table run to charity. To the average poker players, this probably seems completely insane. For some, the WSOP Main Event final table is the largest live poker score in one’s career. To give away the money seems insane.

Giving away one’s poker earnings is not a bad thing and today we will look at some reasons why poker players should consider donating money to charity. We aren’t saying go donate your Main Event final earnings, but donating to charity, in general, is a +EV move.

Your Donation Will Make a Difference

The #1 reason that poker players should donate money to charity is that the money will make a difference in the world. Regardless of the charity that you choose, you are going to make a difference in the world. Whether your money goes directly to relief efforts or simply helps keeps the lights on for the aid organization, the money is going to good use.

Often, poker players overlook certain charities because the scope of the organization is not as broad as we’d like. Not every aid organization has to provide food and shelter to the homeless. There are varying levels of need out there and your donations can help. Find a charity that resonates with you and makes a difference.

It is a Major Tax Deduction

What many people overlook is that large charitable tax donations can be used as write-offs on one’s taxes. We would not be surprised if Distenfeld will use his final table donation as a major write-off on his tax returns next year.

https://t.co/yVBKLMaAMP wrote a nice profile: https://t.co/C5AzIvVCOK

— Gershon Distenfeld (@GDistenfeld) December 23, 2020

Why not? After all, if you are planning on giving your hard-earned money to help others, you should get a break on your taxes. Naturally, talk to your tax accountant or CPA about the tax benefits of charitable donations.

A Great Way to Stir Positive Press

Everybody loves a feel-good story, and what better story is there than helping those in need. While some will argue that we should donate without any recognition, there’s nothing wrong with sending some positive press toward those that give to those in need.

Anyone that is willing to give significant amounts of money to those in need is worth getting to know. Typically, people that are charitable are also good people. What’s their life story? Why are they giving so generously? Why do the charities resonate with them? These are all fantastic press points and ways to make a player more interesting.

It May Open Other Doors

In most areas of life, we want to deal with good people. Poker is the same. Poker players that are well respected and liked often get more opportunities than those with less than stellar reputations. Poker pros that are generous are often going to receive more opportunities than the average grinder. They have a good story and already have positive press going for them.

Some might forget him, but not me. Only @barrygreenstein could be the "Santa Clubs". He's the only one who actually gave his poker money to charity when It wasn't a thing. Also he has the beard, just needs to grow a little 🤷

Nick: Amida

— zzzambrano (@SotaJota) December 23, 2020

As such, you may find more opportunities in the way of sponsorships, media exposure, and maybe even job opportunities in the industry. If Distenfeld were to finish in the top 3 in the Main Event and announce he is looking for poker opportunities, odds are companies will line up to talk to him due to his story.

Your Results May Improve

Finally, there is a chance that your results may improve in the game. If you are playing the game truly for competition, you are not worried about the money. This will change how you play the game and will allow you to make moves that you may not make if finances were involved.

Also, if you are one that believes in the “poker gods” or good karma, then you may find your luck improves slightly as well. If anything, you will have a more positive mindset, which will result in better decision making. Often, the difference between winning a losing is positivity. Just ask Phil Hellmuth.

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