Phil Mickelson Opens Up About Losing MILLIONS From Gambling

[harizen]

He had been gaming since 2010-2014. Five years of gambling, yet he didn't realized he is not that good like his prime, he must be chasing his loss like everyone who in the process resulted to more loss.

I think there are also several times that he got a big win on that 5 years period of gambling.

It's just that in the long run, the greed becomes higher that he gambles not only just about to chase the losses but to earn more money.

The big winning experience is addictive that anyone wants to feel that experience again. And to feel that experience again, they need to continue to gamble.

It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.

It's really hard to bounce back coming from a big loss. Emotional damage is far more worst to deal with.

Fortunately, he now back again to his usual self and realized that it's not too late to change for good. I hope other gamblers that can't resist doing gambling even if they are totally fuck*ed up can have a mindset like that.

[fullhdpixel]

It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.

But, sports and gambling are I think two different things. It is in fact known that being exposed to sports can cure different kinds of addiction and bad habits and of course this includes gambling. Golf is a decent sport and known as the sport for the rich, if he is a player of this sport, chances are that he earns decent too. You can rather say that it's hard to get out of gambling because of this fact. If he retires, he will not be busy and it will be easy for him to think about gambling. Add in that he cant obtain money regularly because he is not working anymore, so for him, gambling is a way to get money as much as possible.

There is a lesson in his story and that is to not be confident enough with yourself because no matter how you think you are skillful enough, there is something out there that can beat you.

[eaLiTy]

~
Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.

I would say it was too late for him to enroll himself into therapy after loosing a whooping $56 millions, he should have done that when he lost his first million then it would make sense and he could have saved the rest, but what is the point when he looses everything and then understanding his mistakes and enrolling himself  . It is a recurring story from athletes where they misplace their wealth and end up being broke and it is really sad to hear as it will not take much to appoint a financial manager.

[Silberman]

I guess him and other sports personalities who have amassed millions in their career will fall on gambling as part of coping maybe specially if they have sort of retired. And that's where many athletes in the past become bankrupt, not taking care of their money, maybe through gambling and bad investment. Hopefully he can still control himself and the therapy will help him with his gambling addiction. That is huge amount that he wasted, money that some of us could only dream of having one day. And the lesson here is that everyone could be susceptible to gambling, even those who have money.

Since Mickelson was a golfer his retirement did not came as fast as it comes for other athletes, but despite this fact most athletes develop serious issues when it comes to money management, they get used to make a lot of money with relative ease that when they finally retire they cannot stop spending as much money as they did before but without the income to back those expenses, which means that sooner or later they will face bankruptcy, and while it does not seems as if Mickelson went that far he still lost a fortune in the process.

[Vaskiy]

Phil Mickelson is one of the popular golfer. Even in his fifties he's good to make a major trophy win. It looks like he have understood the gambling problem at the right time, if not he might've missed his professional career. For him this loss hasn't made a big blow, however he restricted himself from losing much bigger amount.

Popular people sharing their experience will help common man think twice before getting into gambling or chasing the loses out of gambling.

[Pierre 2]

Respected people can easily lose their lifetime build ups. This one I see is one of the greatest examples to this. If you are addicted to something like gambling, you know it is just a game, its not very different than other ones. So there is no point to be embarrased. I think people best deal with the fact that losing is the part of gambling game and losing all the time does not make you bad/stupid person.

[blockman]

It's truly hard to cure such addictions if it's already involved millions of losses. If you can't recover them back, you'll do anything you can just to take them back through gambling again as there are no other means of doing so.
And those that have been once rich and then due to their gambling addiction, they're now suffering. Instead of investing their money and gambling some of it, they've gambled all of it and that's really a mistake that they are now regretting forever.

[Fivestar4everMVP]

56 million dollars is a a lot of money to loose in gambling, it is really true what they say that wonders never end, i always feel like shit each time I gamble $100 dollars and lose it without winning a dime, i make sure to stay away from gambling for over a week to make sure i recover the lost money before i gamble again.
But here, someone lost 56 million and is still alive .
Addiction is something we all should campaign against, it has never helped anyone, and neither will it ever, many people gambled away their properties, cars, houses, other valuables all in the name of trying to recover funds that they have lost earlier, this are behaviors gamblers should really be careful of and avoid it whenever shows up because the truth remains that most of us don't always know when we start getting addicted until we are deep in it, then coming out becomes a big problem.

[Sirait]

https://www.youtube.com/watch?v=1qBpH9DK370

“Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know.”

cut

When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.

sorry to hear of his loss, a very large amount. why no family try to stop him, that much money (the loss he earned) is not easy to get, it took years and also very hard work to get that much money. he should have been included in the list of one of the gamblers who suffered heavy losses (https://www.gamblingnews.com/blog/gamblers-who-lost-it-all/) and hopefully his story can be a valuable lesson for others.

[Viscore]

One more worst example that we can use as a real example of gambling made him sink and lose a lot of money and undergo therapy sessions to get rid of his addiction. The more we chase our losses in gambling, the more we will actually lose money and if we don't wake up quickly from what we are doing, we could end up with him and it could even get worse. There are indeed some people who can win a lot of money from gambling, but that is rare and can be counted on the fingers and those are the people who are really lucky in gambling. We should not try to follow them because our luck will not be like theirs.

Gambling addiction is something that we can't get rid off unless we start taking the preventive measures not to fall for it more. But for us not to fall for gambling addiction and lose millions, it's better that we should not enter gambling anymore. Mickelson has been chasing his luck and even his losses that he end up losing millions without his realization. Sad to say that those huge amount of losses can be even more profitable if he managed not to lose it all in gambling.

[_BlackStar]

The story the OP told has explained to us all how risky it is to gamble out of control and continue to chase defeat ignoring the huge amount of losses that have been inflicted. Once a person has reached this stage there is no other reason for him to recover from just a few hours of therapy and change his behavior to be more beneficial.

I didn't think my craze for gambling would cause me to lose control like that, it's definitely really bad to experience and I can't imagine it happening to me. Be wise about money, it's up to how you enjoy it but if it's done out of control then be prepared for trouble.

[Get-Paid.com]

The story the OP told has explained to us all how risky it is to gamble out of control and continue to chase defeat ignoring the huge amount of losses that have been inflicted.

Phil played horribly in the last US Open tournament in golf - there is no doubt there is link between the two - the addiction doesn't only drain you financially but it will drain you emotionally and mentally as well.

[Lanatsa]

The story the OP told has explained to us all how risky it is to gamble out of control and continue to chase defeat ignoring the huge amount of losses that have been inflicted.

Phil played horribly in the last US Open tournament in golf - there is no doubt there is link between the two - the addiction doesn't only drain you financially but it will drain you emotionally and mentally as well.

Definitely right on this one yet gambling couldnt really just affect financial status but also on other aspects as well on which if you are in the verge of huge loss or simply being significant then panic/anxiety/stress would really be in your mind and other activities on which you do make yourself involved  will really be affected.Not really that surprising for people to realize all things in the end of the line, good for those who do able to recover on such addiction and it would really be a unforgettable moment of their lives.

[Silberman]

The story the OP told has explained to us all how risky it is to gamble out of control and continue to chase defeat ignoring the huge amount of losses that have been inflicted.

Phil played horribly in the last US Open tournament in golf - there is no doubt there is link between the two - the addiction doesn't only drain you financially but it will drain you emotionally and mentally as well.

Without a doubt this is true, while we think of sports as being almost entirely physical in their nature, anyone which has actually practiced a sport at a professional level will tell you that the main difference between the best and the rest is their mentality, the ability of being able to perform under pressure is incredibly hard to get and for that you need for your life to be as free of unnecessary trouble as possible, and being addicted to gambling and losing a fortune is not really conductive of a state of mind which will allow you to perform at your best at any sport.

[Slow death]

Guilt prevented him from concentrating on the game and provoked bad decisions. 

I don't want to disagree with the TOS of casinos, but I don't understand why ban athletes from betting? What advantages could athletes have? I particularly do not see any advantage that an athlete could have, this case of Phil Mickelson for example clearly shows that even being an athlete he lost a lot of money in the game of chance, that is, the factor being an athlete does not bring any advantage when it comes to gambling unlucky, the person will lose like all common people lose, that's why I don't understand why casinos or bookmakers prohibit athletes from betting
 

Phil Mickelson was also rumored to be involved in buying and selling shares in Dean Foods using insider information.  True, the Securities and Exchange Commission (SEC) carefully investigated this story and did not find corpus delicti in Phil's actions.

as it is a rumor, so we can already expect it to be a false accusation

[Fortify]

https://www.youtube.com/watch?v=1qBpH9DK370

“Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know.”

Another biggest loser in gambling is on the list adding to the competitive personalities they have in sports. He had been gaming since 2010-2014. Five years of gambling, yet he didn't realized he is not that good like his prime, he must be chasing his loss like everyone who in the process resulted to more loss. Mickelson suffer over $56 million in gambling loss and also spend hours for his therapy. When a guy already enroll himself in a therapy, you can tell its already bad.

When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.

You know what? It's hard to have sympathy for somebody who reached the heights of having many millions handed to them and presumably working very hard to get them, only to fritter it all away on silly little games. There are so many more pleasurable things to do in life rather than waste money gambling sum large amounts. He could have invested most of that money in sensible stock market index funds and had a steady payout over time, probably earning hundreds of thousands of dollars a year in returns for doing very little, instead he played his money in very high risk and low return games. 99.9% of people in this world will never see a fraction of what he had in their lifetimes, he threw it all away chasing ever more greed.

[serjent05]

When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.

When a person experiences luxury in life and had failed to understand financial management often lose themselves in gambling.  Since money just keeps coming in during their prime, they always thought that it isn't an issue to lose a lot of money because it will replenish soon.  It will be then late for them to notice that their stash is running out thus a sense of emergency emerge but sadly he took the wrong way of recovering his losses instead of stopping and finding a cure for his gambling addiction.  Though he did the latter it is a bit too late to save his finances.

The story the OP told has explained to us all how risky it is to gamble out of control and continue to chase defeat ignoring the huge amount of losses that have been inflicted.

I hope we can all learn from his story.

[Fatunad]

You know what? It's hard to have sympathy for somebody who reached the heights of having many millions handed to them and presumably working very hard to get them, only to fritter it all away on silly little games. There are so many more pleasurable things to do in life rather than waste money gambling sum large amounts. He could have invested most of that money in sensible stock market index funds and had a steady payout over time, probably earning hundreds of thousands of dollars a year in returns for doing very little, instead he played his money in very high risk and low return games. 99.9% of people in this world will never see a fraction of what he had in their lifetimes, he threw it all away chasing ever more greed.

I do have the same impressions too on which i cant really feel anything in terms of pity or sympathy out of these people who had already gained or reached the pinnacle of success in terms of
career and finances but they do wrecked out theirselves via those addictions or things that they do get involved with which it did really cost them big just because they havent able to
exercise proper risk management or handling it out.Everyone could really fall into this pit and doesnt matter if you are a celebrity or known person or popular or just a simple
citizen then you are in no exemption when it comes to condition which something that you should really look upon.

[AmoreJaz]

When you are the ones playing your sports, you'll trust on your skills which is why he bet so much too. I guess this is also what happened to the NBA stars who fell in same loss. It must be hard to cure such gambling addiction since he make a living out of golf sport, he is expose to this sport all his life. The only way I guess is to retire and if he still gambles after that, its really getting worse.

When a person experiences luxury in life and had failed to understand financial management often lose themselves in gambling.  Since money just keeps coming in during their prime, they always thought that it isn't an issue to lose a lot of money because it will replenish soon.  It will be then late for them to notice that their stash is running out thus a sense of emergency emerge but sadly he took the wrong way of recovering his losses instead of stopping and finding a cure for his gambling addiction.  Though he did the latter it is a bit too late to save his finances.

The story the OP told has explained to us all how risky it is to gamble out of control and continue to chase defeat ignoring the huge amount of losses that have been inflicted.

I hope we can all learn from his story.

i guess, there are so many untold stories of gambling addiction. some won't disclose for privacy purposes. but these people will only learn their lessons if they are already experiencing the worst of their lives. they need to wake up to reality on their own. because if it is being pushed on them, they won't see the reality of what's going on with their lives. for sure, he already read a lot about gambling addiction, hence, doing the therapy. but only himself will know how sincere he is to change for the betterment of his life.

[famososMuertos]

...//...:::

lol exactly!!¹
I think that in this thread they have made firewood from the fallen tree, yes! the losses are sick, but in fact they came to light for an investigation of the SEC, but it is old news.

This guy is one of the greatest golfers of all time and his numbers may not be that amazing, but his talents in the golf is undeniable.

In any case, we are talking about one of the golfers who at his best moment earned more than $50,000,000 a year just for sponsorship.

It amused me to read in the comments that he had financial problems, I calculated that his fortune could be above $ 500,000,000 million without looking at statistics but why guess if we have that at hand:

According to the golfnetworth.com source in this 2022 his net worth is $450,000,000 and it is estimated that he has a salary of $50,000,000 a year, throughout his career he has earned more than $800,000,000.

^{source:https://www.golfnetworth.com/phil-mickelson-net-worth/}

The story has had a resurgence due to the publication of a book recounting the years in which he lost such an amount of money:
https://golfweek.usatoday.com/2022/05/16/phil-mickelson-book-review-alan-shipnuck-biography/

(1)Phil Mickelson’s deal with Saudi-backed LIV is around $200 million
source:https://nypost.com/2022/06/06/phil-mickelsons-deal-with-saudi-backed-liv-is-around-200-million/

PGA Tour suspends 17 golfers, including Phil Mickelson, for playing in Saudi-backed LIV event
Source:https://www.cnbc.com/2022/06/09/pga-suspends-phil-mickelson-others-for-involvement-in-saudi-backed-liv-event.html