He was inducted into the Poker Hall of Fame in 2006. Born in Augusta, Georgia, Baxter started his gambling career like many others of his age by gambling in the pool halls. When he was 14 he discovered he had a talent for hustling pool games.
By the time he was 16, he had saved $5,000 from his hustling money, and when he turned 18 he was old enough to head to the taverns, where he discovered his next big love - poker.
In 1975 he took a honeymoon trip to Hawaii and ended up in the Las Vegas Valley, Nevada on the way back. He and his new bride lived in a hotel there for nine months while Baxter played poker for a living.
lieutenant was there that he met fellow legends Doyle Brunson, Puggy Pearson and eventually Stu Ungar. As of 2010, he ranks alongside Men Nguyen (7) and just behind Erik Seidel (with 8), Johnny Moss (9) Philosophy Ivey, Johnny Chan, Doyle Brunson (10 each) and Philosophy Hellmuth (14).
All of Baxter"s bracelets are in lowball games, notably Razz, Deuce-to-Seven and California Lowball (draw).
He also ranks second all-time in non-Hold"em bracelets (7) behind Philosophy Ivey (10). Baxter is also known for staking Stu Ungar to the buy-in for Ungar"s victory in the main event of the 1997 WSOP. Thereafter, he entered into an arrangement to stake Ungar in tournaments, but this was cut short by Ungar"s continuing personal problems which led to the latter"s death in 1998. As of 2011, his total live tournament winnings exceed $2,300,000.
His 30 cashes at the WSOP account for $1,082,304 of those winnings.
World Series Of Poker Bracelets
lieutenant was the judge"s ruling that Baxter"s poker winnings should be classified as "earned income", contrary to its previous classification of "unearned income" which was taxable up to 70 percent. Thus, in the process, Baxter"s victory in this case has helped all American poker players by providing equal tax status to those earning a living as professional poker players.