Phil Mickelson Had $40M Gambling Problem, Biography Claims

Phil Mickelson Had $40M Gambling Problem, Biography Claims

MickelsonPhil Mickelson has racked up some hefty gambling losses, according to an article adapted from a new book on the famous golfer.

The information comes from the upcoming biography titled Phil: The Rip-Roaring (and Unauthorized!) Biography of Golf’s Most Colorful Superstar.

According to the article, Mickelson racked up at least $40 million in gambling losses from 2010 to 2014. The numbers were reportedly uncovered from a federal investigation into insider trading, the result of which sent sports bettor Billy Walters to prison. Mickelson wasn’t charged.

“The massive scale of Mickelson’s gambling losses has never before been made public, but, as noted in the book, during the Billy Walters insider trading investigation, government auditors conducted a forensic examination of Phil’s finances,” the report said.

“According to a source with direct access to the documents, Mickelson had gambling losses totaling more than $40 million in the four-year period (2010–14) that was scrutinized.”

Mickelson was arguably at the peak of his game during that time frame, and the report estimated that the gambling losses might have depleted his finances.

“In those prime earning years, his income was estimated to be just north of $40 million a year,” the article said. “That’s an obscene amount of money, but once he paid his taxes (including the California tariffs he publicly railed against), he was left with, what, low-20s? Then he had to cover his plane and mansion(s), plus his agent, caddie, pilots, chef, personal trainer, swing coaches and sundry others. Throw in all the other expenses of a big life—like an actual T. Rex skull for a birthday present—and that leaves, what, $10 million?”

The report speculates that Mickelson might have been spending more than he made.

“Per the government audit, that’s roughly how much Mickelson averaged in annual gambling losses. (And we don’t know what we don’t know.) In other words, it’s quite possible he was barely breaking even, or maybe even in the red. And Mickelson’s income dropped considerably during his winless years from 2014 to ’17.”