Phil Mickelson Reportedly Tied to Money Laundering, Gambling Case

[newtogolf]

How are we defining "gambling problem"?  I think in the traditional sense, it means somebody who's gambling beyond their means and isn't able to pay bills/obligations, or is obsessed with gambling to the point that it's interfering with other aspects of their daily life.  I don't think we've seen any evidence of the latter, as he keeps busy with golf, charities and plenty of other things.  As to the former, Phil's estimated net worth is around $295 million as of this month (according to therichest.com) - he'd have to be hitting it pretty hard to interfere with his ability to pay the bills.  To a guy of his means, a $25K wager would maybe be the equivalent of most of us Joe Lunchbox golfers playing for dollar skins or a $5 Nassau.  $3M loss?  Most of us won't make that much in our lifetime - he probably didn't even miss it.  He's won 2 or 3 times that much in a single golf tournament before.  It would be far less significant to him than one of us wagering the equivalent of a single month's paycheck.

Well all gamblers with "gambling problems" start out able to pay their debts and obligations and eventually reach the point where they no longer can.   Phil and Michael Jordan have a much larger income than most of us which could mask a serious gambling problem for quite some time but that doesn't mean they don't have one.  By the time a guy like Phil is broke and homeless he's well past the point of just having a "gambling problem".

[Mac62]

Well all gamblers with "gambling problems" start out able to pay their debts and obligations and eventually reach the point where they no longer can.   Phil and Michael Jordan have a much larger income than most of us which could mask a serious gambling problem for quite some time but that doesn't mean they don't have one.  By the time a guy like Phil is broke and homeless he's well past the point of just having a "gambling problem".

I didn't realize this was a relatively new thing for Phil.  I was under the impression he had been doing it for quite a while and had developed a reputation as a wagering man.

[newtogolf]

I didn't realize this was a relatively new thing for Phil.  I was under the impression he had been doing it for quite a while and had developed a reputation as a wagering man.

I don't know how long he's been gambling or how big the stakes are which is basically my point.  Until we hear he's had his home foreclosed or his cars repossessed we likely wouldn't know if he had a major gambling problem.

[No Mulligans]

How are we defining "gambling problem"?  I think in the traditional sense, it means somebody who's gambling beyond their means and isn't able to pay bills/obligations, or is obsessed with gambling to the point that it's interfering with other aspects of their daily life.  I don't think we've seen any evidence of the latter, as he keeps busy with golf, charities and plenty of other things.  As to the former, Phil's estimated net worth is around $295 million as of this month (according to therichest.com) - he'd have to be hitting it pretty hard to interfere with his ability to pay the bills.  To a guy of his means, a $25K wager would maybe be the equivalent of most of us Joe Lunchbox golfers playing for dollar skins or a $5 Nassau.  $3M loss?  Most of us won't make that much in our lifetime - he probably didn't even miss it.  He's won 2 or 3 times that much in a single golf tournament before.  It would be far less significant to him than one of us wagering the equivalent of a single month's paycheck.

To me, the fact that he's betting is much ado about nothing, as long as there's no evidence that he's doing anything crooked like betting against himself and then intentionally tanking.  And yes, I'd feel the same if it was any other professional golfer, even one I didn't particularly like.  I'm not a gambler myself, but I don't have any moral opposition to legal wagering, regardless of who's doing it.

Point taken, I did use the word "maybe" though.

There are additional factors that could indicate a problem such as family issues related to gambling, legal issues as an outcome of gambling, bad press related to gambling, affects on his marketability related to gambling etc.

Bill Gates likes to "gamble", he has been seen playing 3 - 6 fixed limit poker in Las Vegas casinos (buy-ins for that level of game are typically in the $100  to $200 range).  That's entertainment.  He has found better things to do with his fortune than place million dollar bets.

[plum]

i cant imagine caring what a bunch of millionaires do with their hard earned cash. hit the ball, entertain me !

[todgot]

Unless anyone on here knows Phil personally and can give the actual story then anything else is just speculation. I can tell you when I was in Medical School I did a month at the Coroner's office in Las Vegas, Nevada... I would see the body and read the investigative report and then read the newspaper story. Nearly every time the story was incorrect and got important facts wrong or deleted them. That made me realize that most of what you read in the paper is garbage. This story smells to me like a plant... someone with an agenda leaked Phil's name to the press regarding this case. If you look at the facts it is very simple.... He paid a guy 2.75 million dollars. That's it... What the guy did with the money was illegal. Phil's name was leaked to make this a bigger story for someone and to smear Phil. To say he was "tied to Money Laundering" is not a truthful statement...

[ghalfaire]

I believe this will turn out to be a big nothing.  What I suspect Phil did was pick up a phone and call a bookie in Vegas and make bets, which is not illegal.  But he is Phil and so it is a story but somehow I just doubt he was any part of a "money laundering scheme. But I guess time will tell.

[Aguirre]

I have no idea what some of you mean by Phil may not be 'as clean as people thought.'

The United States is one of--if not the most--backwards ass country of any of the liberal democracies.  Whether it's our drugs laws or gambling, we're always in the dark ages.  Phil likes to bet on sports, but can't do it in San Diego, because of our shitty laws.  So he hires somebody to facilitate his hobby, and that guy gets pinched, and somehow this reflects on Phil's character?  GTFO.

[tiger19]

I have no idea what some of you mean by Phil may not be 'as clean as people thought.'  The United States is one of--if not the most--backwards ass country of any of the liberal democracies.  Whether it's our drugs laws or gambling, we're always in the dark ages.  Phil likes to bet on sports, but can't do it in San Diego, because of our shitty laws.  So he hires somebody to facilitate his hobby, and that guy gets pinched, and somehow this reflects on Phil's character?  GTFO.

Is insider trading also ok?

[imsys0042]

I'm guessing those kids at the lemonade stand are in involved in this. What a genius way to launder cash!

[Mac62]

Is insider trading also ok?

Last I read, Mickelson was cleared of wrongdoing in the insider trading accusations.  Is there new evidence which says otherwise?

[tiger19]

Last I read, Mickelson was cleared of wrongdoing in the insider trading accusations.  Is there new evidence which says otherwise?

There were 2 cases he was being investigated for. One he has been cleared and one is ongoing.

[RJH999]

There were 2 cases he was being investigated for. One he has been cleared and one is ongoing.

I know this is in no way related to the discussion, but is Tiger eating a chicken thigh in your profile picture?

[imsys0042]

I know this is in no way related to the discussion, but is Tiger eating a chicken thigh in your profile picture?

Looks like a sandwich. But only the Enquirer knows for sure...

[k14]

BFD.....just another reason the rest of the world laughs at the good ole USA

I agree, is the USA the only country in the world where sports betting is illegal? Just cannot understand it.

[Aguirre]

Is insider trading also ok?

Actually, it is.  We can get political and I could explain why insider trading is basically another example of corporate/government partnership that disguises itself as regulation and 'protecting the little guy' while simultaneously ****ing you.  But I doubt you'd be interested and that's decidedly off topic.

In the meantime, I'd point out that he was cleared.  But I do suspect that with your username you probably don't like Phil, since there seems to be some kind of false good/bad dichotomy that exists between these two.

[RFKFREAK]

There were 2 cases he was being investigated for. One he has been cleared and one is ongoing.

So, there's no new evidence that says otherwise then?

[BruceMGF]

I agree, is the USA the only country in the world where sports betting is illegal? Just cannot understand it.

Not sure about North Korea.