Former Associate Alleges Phil Mickelson Has Lost $100 Million Gambling, Details His Outrageous Sports Wagering Habits In New Book
Billy Walters is known by most for two things: being arguably the greatest sports gambler to ever live and a man who had his insider trading sentencing commuted by former President Donald Trump in 2021.
Based on an excerpt from his soon-to-be-released book that alleges mindboggling gambling habits of Phil Mickelson, Walters should soon be able to add best-selling author to his resume as well.
The Fire Pit Collective was able to get its hands on an exclusive excerpt from Walters' "Gambler: Secrets from a Life at Risk," and to say some of the stories and figures tossed around are eye-opening would be quite the understatement.
Phil Mickelson is huge topic in Billy Walters' soon to be released book. (Photo by Brian Spurlock/Icon Sportswire via Getty Images)
Mickelson And Walters Partnership
The friendship between Walters and Mickelson started back in 2006 when the two played together in the AT&T Pebble Beach. That friendship turned into a gambling partnership in 2008 at the Wachovia Championship, and from there, things escalated, quickly.
Walters explains in the book that the two entered into a gambling partnership in which they split everything that lasted five years. Mickelson was worth roughly $250 million during his run with Walters. That is very much worth noting to give a proper perspective on the situation.
"During that time, we played a few dozen rounds of golf together, most of them in Southern California," Walters writes. "We always had a small bet on the line—usually $10,000—but our matches were never about money. We became what I thought were friends. If you’ve ever had a golf buddy, you know what I’m talking about."
Putting $10,00 on the line as a friendly wager may be tough to wrap your head around, but this doesn't even compare to the other allegations Walters makes.
Phil Mickelson allegedly wanted to place a $400k wager on the 2012 Ryder Cup, one he was a part of. (Photo by Suhaimi Abdullah/Getty Images)
Unbelievable Ryder Cup Story
Perhaps the most pivotal moment of Walters' partnership with Mickelson came ahead of the 2012 Ryder Cup at Medinah. Mickelson allegedly called Walters and asked him to place a $400,000 wager for him on the U.S. team to win.
Mickelson was a member of the U.S. team that year.
“Have you lost your fu-king mind?” I told him. “Don’t you remember what happened to Pete Rose?” The former Cincinnati Reds manager was banned from baseball for betting on his own team. “You’re seen as a modern-day Arnold Palmer,” I added. “You’d risk all that for this? I want no part of it.’’
“Alright, alright,” he replied."
Phil Mickelson And His Aggressive Gambling Habits
Walters went on to explain that he doesn't know if Mickelson ever placed a bet on the Ryder Cup elsewhere. Let's hope for the lefty's sake he didn't. The Europeans came back to beat the Americans on the final day of the 2012 Ryder Cup with Mickelson's loss to Justin Rose not helping the cause.
Betting on yourself is one thing, betting on others is another. And Mickelson did plenty of that, according to the book.
Walters provided a snapshot into Mickelson's gambling habits between 2010 and 2014 based on alleged betting records noted by Golf Digest, and they are staggering:
• He bet $110,000 to win $100,000 a total of 1,115 times.
• On 858 occasions, he bet $220,000 to win $200,000. (The sum of those 1,973 gross wagers came to more than $311 million.)
• In 2011 alone, he made 3,154 bets—an average of nearly nine per day.
• On one day in 2011 (June 22), he made forty-three bets on major-league baseball games, resulting in $143,500 in losses.
• He made a staggering 7,065 wagers on football, basketball, and baseball.
Billy Walters alleges A LOT involving Phil Mickelson in his new book. (Photo by Eakin Howard/Getty Images)
Phil Mickelson Bets In Context
A man that allegedly makes over 3,100 bets in one calendar year has inevitably suffered some losses, and Mickelson had his fair share.
"Based on our relationship and what I’ve since learned from others, Phil’s gambling losses approached not $40 million as has been previously reported, but much closer to $100 million. In all, he wagered a total of more than $1 billion during the past three decades," Walters writes.
Mickelson is reported to still have a net worth of approximately $875 million today. That takes much of the sting out of losing $100 million. However, reported net worth figures have wiggle room, and the give-and-take on Mickelson's figure may be quite the range given his alleged gambling habits and insider trading settlements of the past.
Follow Mark Harris on Twitter @ItIsMarkHarris