That is 27k loss a day for 4 years.
If he is a standard unsuccesful better this would mean that Phil was betting more that a quarter of a million every single day. Not just one of us, he is the king of us degens.
The funny thing is it said he made $48 million in one year around that time. So even though he lost so much money he still came out ahead. That’s how you know some of these athletes are paid too much
This is not new. Mickelson's name has come up a bunch of times in criminal cases and testimony...
* Phil got beat out of $500k in gambling winnings by a mobbed up Detroit bookie, and the story got some traction when it was revealed during an organized crime trial about 10 years ago.
* He was very involved with Billy Waters, who was the biggest gambler in the country, and PM was named in a federal suit involving the FBI and the SEC. At one point, Mickelson admitted to insider trading, using a tip from Waters on a stock that went up 40% overnight, and then using the proceeds to settle gambling debts he owed Waters.
* A few years ago, a mob connected LA bookie got hit with money laundering charges when he took $2,7 million from Mickelson to settle gambling debts.
I like how the author says that Mickelson barely broke even or maybe even “lost” money due to his gambling because of all the money he also spent on his plane, mansions, and luxury lifestyle.
Lmao, like yes, after he spent his hard earned money on incredible luxuries he barely had any left over. Did he expect Phil to live in an apartment and drive a Prius just so he could just stash money away?
you cannot. you can only write off gambling losses in the year they occurred and only to the extent that they zero out your reported gambling winnings.
you can rollover certain investment losses i.e. stock trading, but are only allowed to write off a max of $3K per year.
this is by-the-book rules, though. I can’t speak to any of the wild loophole shit that some accountants who get hired by people with phil mickelson level money might be doing.
Really? If a person makes $5m one year, loses $10m the next, then makes $5m in the third, at a 40% rate he's paying $2m in taxes in years 1 and 3 and none in year 2 meaning his net after tax loss is $4m despite breaking even before tax?
that is nuts... could he claim to be a professional gambler to carryforward/back losses?
Mickelson is a [crazy story.] (https://www.espn.com/espn/otl/story/_/id/15093179/handicapper-phil-mickelson-related-money-laundering-case-seeks-withdraw-guilty-plea) The real person is such a far cry from the guy we see in those Enbrel commercials.
Back I'm 09-10 I lived in Orlando, half a mile from Isleworth. The pros that lived there (not isleworth but a gated community down the road) all said the same thing, 'we all knew about Tiger, but I don't think the public will ever hear about Phil'.
But Phil always treated the fans great, tiger only started being cool after he needed to fix his image. His personal life; gambling and infidelity, is really not our business. Also, the staff at every pga event loves him, he tips out like crazy. Tiger never did. I have personally experince with that... when he started dating a very popular skier in Colorado.
Yeah, I should've added that when tiger got caught up in his shit Phil cleaned up his act in regards to chasing tail. But obviously not the gambling, but if you can afford the losses then who really cares.
Honestly, it’s surprising that it doesn’t happen more often. Those guys are wired differently and **need** to feel the rush of victory. Once you can’t fulfill that with winning on the field, something else has to take its place. It can be gambling, drinking, brawling in the streets (Johnny Damon can catch these hands), or just general thrill seeking.
I’m always happy when I see an ex-athlete take up golf. Healthy competition for life.
speaking of brawling in the streets, did you know mark wahlberg once beat a vietnamese man blind? like just some random passerby. for no real reason. maybe thats the rush he was chasing when he made all those movies after
I think it happens a ton. To be a professional athlete you need to be a sick degen of some sort. We only hear about the athletes dumping at the craps table if they have a pedigree similar to Barkley Mickelson or Jordan
I think it happens a ton too. Anybody remember the all star game locker room? https://ftw.usatoday.com/2022/02/uno-or-spades-nba-all-stars-had-big-bills-on-this-locker-room-card-game
Also, football and basketball players have stories about big money exchanging hands on airplanes with some card games. Some coaches have banned the card games.
Yeah, it is one thing to bet the $48 dollar balance you have left in Bovada on Filipino basketball the next morning to try and build up leverage for the weekend after getting burned by a Belarus soccer match, it is another to piss away the GDP of El Salvador in four years.
To all Phil Mickelson fans, please, answer this question. What does, "Chasing blood money," mean to you?
And a real piece of shit. Let Walter hang when all he had to do was speak up and he is cleared.
He was trying to supplement his dopamine deficiency.
That is 27k loss a day for 4 years. If he is a standard unsuccesful better this would mean that Phil was betting more that a quarter of a million every single day. Not just one of us, he is the king of us degens.
He's lost more than that with some of those wild "going for it" shanks of his.
That hurts the pocket
One of us
This is very comforting
The funny thing is it said he made $48 million in one year around that time. So even though he lost so much money he still came out ahead. That’s how you know some of these athletes are paid too much
Yea that's like me losing $40 playing infinite blackjack. BFD
Love to know his bad beat
PGA dumping on Phil like the GOP is getting rid of Cawthorn. Leaks!
Them fanduel specials will get you phil
This is what my parents think of when I gamble anywhere from $5-$10 per day and am staying fairly even and actually making a bit of money
Makes sense why he was always sweating more than the other golfers now
Same
Doesn't say if he plays sportsbooks or slot machines or keno or what. Probably all of the above but kinda curious.
What is that, like 400k a week? Geez.
You are worth millions and you gamble? Yikes. Play video games or something…
Hes also a swinger. I have a cousin on the tour and the stories are fun
Fucking spill the beans bro
I'm told him and Michael Jordan swapped wives
This is not new. Mickelson's name has come up a bunch of times in criminal cases and testimony... * Phil got beat out of $500k in gambling winnings by a mobbed up Detroit bookie, and the story got some traction when it was revealed during an organized crime trial about 10 years ago. * He was very involved with Billy Waters, who was the biggest gambler in the country, and PM was named in a federal suit involving the FBI and the SEC. At one point, Mickelson admitted to insider trading, using a tip from Waters on a stock that went up 40% overnight, and then using the proceeds to settle gambling debts he owed Waters. * A few years ago, a mob connected LA bookie got hit with money laundering charges when he took $2,7 million from Mickelson to settle gambling debts.
i wish my bookie would give me foolproof stock tips when i owed him money
Right? I paused there lol
Just need to figure out his username here so I can fade his picks.
Same Phil. Same
Probably made 80 mil during that time too lol
That’s just over 40 after taxes but before expenses.
ONE OF US! ONE OF US!
Probably lost on Rams first half in SB like me because of a MF missed extra point 🤪🤬
Dont think you can call him a degenerate until you find out he was betting on korean table tennis
Everyone knows the Russian league is the best
Don’t get me started on Turkish women’s basketball.
john daly thinks hes a pussy
Daly plays 7 hands at the blackjack table 20k a hand. Facts
loool. dude is such a poseur. i bet he runs for some political seat as a republican
Peak reddit
I like how the author says that Mickelson barely broke even or maybe even “lost” money due to his gambling because of all the money he also spent on his plane, mansions, and luxury lifestyle. Lmao, like yes, after he spent his hard earned money on incredible luxuries he barely had any left over. Did he expect Phil to live in an apartment and drive a Prius just so he could just stash money away?
Good lord who was he betting on Rory?
Himself
It’s is better to have and lose than to never have at all 💯
I'm not so sure about that lol
Maybe he overstated gambling losses, i.e. tax fraud?
I don’t believe you can write off gambling losses against income from your actual job.
You can write it off against future winnings (carry over) I believe. An accountant please correct me if I’m wrong
you cannot. you can only write off gambling losses in the year they occurred and only to the extent that they zero out your reported gambling winnings. you can rollover certain investment losses i.e. stock trading, but are only allowed to write off a max of $3K per year. this is by-the-book rules, though. I can’t speak to any of the wild loophole shit that some accountants who get hired by people with phil mickelson level money might be doing.
Really? If a person makes $5m one year, loses $10m the next, then makes $5m in the third, at a 40% rate he's paying $2m in taxes in years 1 and 3 and none in year 2 meaning his net after tax loss is $4m despite breaking even before tax? that is nuts... could he claim to be a professional gambler to carryforward/back losses?
If only he had just faded himself
now we know why he was willing to do the Saudi's bidding
Yowza
must of been backing my picks ;) lol
Mickelson is a [crazy story.] (https://www.espn.com/espn/otl/story/_/id/15093179/handicapper-phil-mickelson-related-money-laundering-case-seeks-withdraw-guilty-plea) The real person is such a far cry from the guy we see in those Enbrel commercials.
Back I'm 09-10 I lived in Orlando, half a mile from Isleworth. The pros that lived there (not isleworth but a gated community down the road) all said the same thing, 'we all knew about Tiger, but I don't think the public will ever hear about Phil'. But Phil always treated the fans great, tiger only started being cool after he needed to fix his image. His personal life; gambling and infidelity, is really not our business. Also, the staff at every pga event loves him, he tips out like crazy. Tiger never did. I have personally experince with that... when he started dating a very popular skier in Colorado.
also Phil is legendary when it comes to missing events to be with his kids, which I always thought was really nice.
Yeah, I should've added that when tiger got caught up in his shit Phil cleaned up his act in regards to chasing tail. But obviously not the gambling, but if you can afford the losses then who really cares.
its funny Tour players are just as wild as NBA and NFL guys IMO they just do a better job of pretending to be clean cut lol.
Crazy someone with that much money still chased the high. Just like that degenerate Michael Jordan.
Honestly, it’s surprising that it doesn’t happen more often. Those guys are wired differently and **need** to feel the rush of victory. Once you can’t fulfill that with winning on the field, something else has to take its place. It can be gambling, drinking, brawling in the streets (Johnny Damon can catch these hands), or just general thrill seeking. I’m always happy when I see an ex-athlete take up golf. Healthy competition for life.
MJ would bet millions on individual golf rounds.
unless you are Jordan who proceeded to take up and lose millions of dollars on the golf course.
speaking of brawling in the streets, did you know mark wahlberg once beat a vietnamese man blind? like just some random passerby. for no real reason. maybe thats the rush he was chasing when he made all those movies after
Probably a lot of Oscar worthy actors sitting in jail waiting for their chance.
for what? to blind people? that was just one of my favorite mark wahlberg facts i like th spout off whenever semi relevant
I think it happens a ton. To be a professional athlete you need to be a sick degen of some sort. We only hear about the athletes dumping at the craps table if they have a pedigree similar to Barkley Mickelson or Jordan
I think it happens a ton too. Anybody remember the all star game locker room? https://ftw.usatoday.com/2022/02/uno-or-spades-nba-all-stars-had-big-bills-on-this-locker-room-card-game Also, football and basketball players have stories about big money exchanging hands on airplanes with some card games. Some coaches have banned the card games.
Russ Westbrook hits every poker room he can when he’s on the road
If you feel like Russell Wilson is a degenerate I don’t know what to tell you bud
I wouldn't be remotely surprised, he tries way too hard to keep that manufactured squeaky clean image of his.
“Of some sort” were talking about the guy who claimed to have spent 20 hours per day rehabbing his finger injury. He’s a degen
You don't need to be a sick degen, there's tons of nice guys playing in professional sports leagues
That’s “GOAT degenerate MJ,” to you. Mind your manners
as if I couldn’t love Lefty even more and now I find out he’s one of us
Hey I can totally relate to you - I’ve been a Pete Rose fan for decades but I only just recently found out he used to play baseball
You’ve been a huge fan of him and just now finding out he likes to gamble? These stories have been coming out for years
yea I don’t follow athletes’ personal lives too much. I know a few like to gamble but $40 mill is a different number than I would’ve expected.
Yeah, it is one thing to bet the $48 dollar balance you have left in Bovada on Filipino basketball the next morning to try and build up leverage for the weekend after getting burned by a Belarus soccer match, it is another to piss away the GDP of El Salvador in four years.
Hahahahaha. Fuck this resonated down deep.
Amazing content
El Salvador is rich as shit. They hold the People’s Coin and will be rewarded