Phil Mickelson gambled $1billion over 30 years, says former associate

Phil Mickelson wagered over $1billion over the past three decades and racked up gambling losses of nearly $100million, says his former betting partner Billy Walters.

Walters’ book, Gambler: Secrets from a Life of Risk’ outlines in part Mickelson’s alleged staggering gambling habits and losses, including one instance when he was talked out of placing a $400,000 bet on Tiger Woods at the Ryder Cup.

A notorious professional gambler, Walters went to prison in 2017 following a conviction on 10 counts of conspiracy, securities fraud and wire fraud related to “ill-gotten gains” trading Dean Foods stock. Walters shared insider information around some of those trades with Mickelson, who made multiple stock purchases totaling $931,000 and was forced by the Securities and Trade Commission to repay $1 million.

Walters wrote in his book, “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, released from prison in 2020 and granted clemency by Donald Trump in 2021, claimed “all Phil Mickelson had to do (at Walters’ trial) was come forward and tell the truth”.

Mickelson did not testify.

Walters said in addition to the stock tips, he formed a high-limit betting partnership with Mickelson. Walters said the incentive was simple: he wanted to increase his own limits with off-shore books, who didn’t know the bets placed by Mickelson were largely Walters’ plays.

Walters asserts in his autobiography, co-authored by Armen Keteyian, that Mickelson wagered $110,000 to win $100,000 a total of 1,115 times; bet $220,000 to win $200,000 more than 1,300 times for a total of $311million.

In 2011 alone, he made 3,154 bets, an average of nearly nine per day. On one day in 2011 (22 June), he made 43 bets on major league baseball games, resulting in $143,500 in losses.

Mickelson declined to comment on the book’s claims. “I’m gonna pass today,” he told Golfweek on Thursday.