Ivey has built a reputation for being a gambling millionaire who loves a bet, but this latest multi-million dollar bet could be pretty tough going.
The latest punt is a bet with Tom Dwan. The bet is that Ivey can’t lay off the booze for a year. The prop bet is supposedly worth millions, with figures being thrown out there suggesting the bet could be worth anything for $5 million to $20 million.
— Phil Ivey (@philivey) August 28, 2013
If you watch Poker After Dark’s big cash games sponsored by Full Tilt Poker, then you’ve probably seen Ivey holding boards and scribbling down bets, as well as results in massive side bets made at the table also known as prop bets. Ivey has been regularly televised wheeling and dealing on the show making side bet poker games or gambling on the colour of the next cards that come out during their current poker game. One time he missed a bet for Eli Elezra and lost him $20,000, but they just shrugged it off after some minor objections from Elezra!
Phil Ivey also loves to gamble in the casinos with his latest trivial being a highly publicised court case with Crockford’s casino owned by Genting. Ivey was playing Punto Blanco, a version of Baccarat, and he was laying down bets of up to £150,000, a hand that saw him turn out a win worth over £7 million. His love for gambling is certainly no secret and with what is estimated to be a $100 million bankroll built up by the poker superstar, he can afford a few punts.
A few years back Dwan bet Ivey $1 million that Ivey couldn’t give up meat for one year, but Ivey was caught out by a piece of chicken at a party where he had to admit that he couldn’t see the bet through. In the end it cost Phil $150,000 to buy the bet out so he could dip into the tasty and alluring piece of chicken. It was lucky Phil hadn’t up that bet as he initially asked for the bet to be $2 million, but it remained at $1 million. Dwan has reminded Ivey of that that time on Twitter and so it is pretty obvious he feels comfortable that Ivey can’t see through the days of this current prop bet with no booze.
— Tom Dwan (@TomDwan) August 28, 2013
No one knows exactly where the bet came from, but it is on. Both Ivey and Dwan are commenting on Twitter, so watch this space as we follow the bet and see whether we can catch Phil out drinking or see if he has to buy this one out too!