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Phil Ivey Wins WSOP Event 8 And $12 Million In Side Bets

by: JamieD On  Tuesday, December 20, 2011

Phil Ivey Wins WSOP Event 8 And 12 Million In Side BetsTotal Pro Sports – The game is called deuce-to-seven.  Many may not know how to play it.  Some have never even heard of it, but among many professional poker players, it remains the most pure form of the game to date.  And for Phil Ivey, it became the most profitable.

That may sound odd, with the winning prize being only $96,361, but for Phil it wasn’t about the prize money.  It was all about the side bets.  Ivey is known for his knack to increase the stakes, and that was exactly what he was faced with at the final table of this tournament, one of the many offered at the World Series of Poker.  No one (besides Phil) is clear on the exact amount of money he won as a result of his earning this bracelet, but one reliable source indicated that they heard him say his possible payout would be $12 million.

“You may have heard that Ivey bet a lot of money on himself to win a bracelet at last year’s WSOP, and he came up short. (His best finish was 9th.) Rumors swirled that he increased the action on himself this year in a wider variety of bets. There were the standard bets on whether or not he would win a bracelet, and he also has several head-to-head bets with players like Erick Lindgren to see who could win more bracelets. (So those players still have a chance to tie Ivey by winning a bracelet of their own this year — which could save them hundreds of thousands of dollars or more.)”

So much for just the simple joy of taking home the bracelet and prize money that often comes with victories at the WSOP.  Many of the pros are known for adding a little more bread to the basket, but in Phil’s case, he added a whole five course meal.  Now with the added incentive brought about by these side bets, look out for Phil Ivey in the main event.  He may very well have some business to take care of on the side.

Hat Tip – [Tao of Poker] via [BustedCoverage]




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