Billy Baxter

Billy Baxter was born William E. Baxter Jr. on September 21, 1940, in Augusta, Georgia. He began his gambling career at a young age, hustling pool games in pool halls. By age 14, he discovered his talent, and by 16 he had saved $5,000 from hustling. At 18, he moved to taverns where he discovered poker. He attended Augusta College but dropped out to pursue poker full-time.

Baxter’s professional poker career took off after a honeymoon trip to Las Vegas in 1975, where he met legends like Doyle Brunson, Puggy Pearson, and Stu Ungar. He has won seven World Series of Poker (WSOP) bracelets over four decades, all in lowball games: Deuce-to-Seven Draw, Ace-to-Five Draw, and Razz. His bracelets span from 1975 to 2002:

As of 2017, his total live tournament winnings exceed $2,600,000, with later updates showing over $3.4 million in career earnings. He also cashed 35 times at the WSOP and made two World Poker Tour final tables, with his largest cash being $246,921 for a fifth-place finish in 2010.

Baxter is famous for staking Stu Ungar to the buy-in for Ungar’s victory in the 1997 WSOP Main Event. After that win, Baxter entered into a staking arrangement for Ungar in tournaments, but this was cut short by Ungar’s personal problems and his death in 1998.

Baxter also made a significant legal contribution to poker. In William E. Baxter Jr. vs. the United States, he sued for a $178,000 tax refund. The judge ruled that poker winnings should be classified as "earned income" rather than "unearned income," which was previously taxable up to 70%. This victory helped all American professional poker players by giving them equal tax status.

Even in his 80s, Baxter continues to compete. In the 2023 WSOP, he finished runner-up in the $1,000 Seniors Championship for $473,212, narrowly missing his first hold’em bracelet. He was inducted into the Poker Hall of Fame in 2006 and remains a respected figure in the poker community, known for his skill in mixed games and his contributions to poker’s legal landscape.