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Mike Sexton and Phil Ivey Side Bets at 2009 WSOP

By Mike Sexton | Published Jun 11 2009, 01:22 PM

The 40th Annual World Series of Poker has wowed everyone with the turnouts in every event.  Kudos to the RIO and WSOP staff for doing such an outstanding job in organizing and running this humongous event.

The big buzz from the players at the WSOP is about Phil Ivey and the rumored amount he won on side bets (multi-millions) after winning his 6th WSOP bracelet in the $2,500 buy-in 2-7 Lowball Draw event.  The first place prize money for that event was just under $100k and word is that Ivey toked it all to the dealers - obviously because he had won so much in side bets for winning a bracelet.  (My guess is that this would be the first time in history that anyone won an event at the WSOP and lost money!)

On a personal note, the night before the 2-7 tourney, I made a bet with Ivey.  I bet him even money and said he could pick any two players the rest of the WSOP to win a bracelet.  He took the bet - and picked himself and Daniel Negreanu.  Well, I didn't even get a sweat for my money.  He won the next event he played in and incredibly, Daniel finished 2nd in the next event he played!  Wow!

I believe Daniel Negreanu is the most amazing performer at the WSOP so far.  Although he hasn't won yet, he's gone deep in every tournament, been in the money three or four times, and finished 2nd and 4th already.  Daniel told me yesterday that he's played until 3:00 a.m. (that's when they stop play for the night) for 9 consecutive days!  Folks, to get that far in every event you play is astonishing!

I can tell you this - I will not be betting against Ivey or Negreanu from here out.  In fact, I've actually bet on Ivey to win another bracelet (at 5-1 and 6-1) against anyone else winning two bracelets that hadn't already won one as of Event # 15.  If Ivey would win two and someone else does, the bet is a push.  It's also a push if no one wins two bracelets (after Event 15).

On a side note, I've heard through the grapevine that management at the WSOP is not happy with side bets being made at the WSOP.  I find this a little hard to believe as I feel the WSOP is far better off by having the high stakes players make these bracelet side bets because it gets the greatest players in the world to play the lower buy-in and lower pay-out events.  If you ran the WSOP, wouldn't you want Phil Ivey, Daniel Negreanu, Doyle Brunson, David Benyamine, Eli Elezzra and other poker superstars playing at the WSOP every day?

Phil Ivey, for example, bets more on one golf hole than the first place prize money he won in the $2,500 2-7 draw tourney.  He's inspired to play all the events (as are numerous other big-time players) because of the side bets he makes.  This gives him and others the motivation to play.  Having all the ultra-high stakes players play in nearly all of the WSOP events is terrific for the World Series of Poker.  They should be grateful these players have made side bets.

As for me, I've played in four events thus far with one cash.  (I was on an anniversary vacation the first week of the WSOP.)  I'm really looking forward to some of the upcoming events, especially the Hi-Lo split events.  I'll be playing in those for sure because I feel I play them as well as anyone in the world.  And speaking of side bets, I'm betting on myself against 8 other players ($10k each) to make it to the final table of Event 25 (the $2,500 buy-in half Omaha Hi-Lo and half 8 or Better Stud).  The way I see it is that I can win 8 bets but lose one or two at the most.  I might not win, but I love these bets!

I hope to see you at the WSOP!    Take care.


-Mike Sexton



Comments
grapsfan 

grapsfan said:

I think everything else surrounding the WSOP is more interesting than most of the table action...thank you so much for sharing a bit of it, Mike.  And welcome to PocketFives!

June 11, 2009 8:03 PM
resilient 

resilient said:

very nice article Mike, welcome!

June 11, 2009 8:08 PM
Reoknows 

Reoknows said:

100k tip is pretty baller.

June 11, 2009 8:08 PM
wandigo 

wandigo said:

Good article, Mike. Couldn't agree more that it's silly of the WSOP to frown upon all of the side bets because like you said, it brings out all of the big names on a daily basis which in return results in more publicity and more visitors to the Rio each and every day.

Hope to see more articles soon.

June 11, 2009 8:13 PM
time4badbeat 

time4badbeat said:

I had heard that the rumor that Ivey tipped the $100k was false and that he actually tipped $3k

June 11, 2009 8:19 PM
dgillis 

dgillis said:

Awesome to see you on the front page, nice article! looking forward to the next.

June 11, 2009 9:09 PM
steveystew 

steveystew said:

Good Luck Mike!

June 11, 2009 9:13 PM
Plan Z 

Plan Z said:

Nice article Mike! The ambassador of poker! Welcome!

June 11, 2009 9:14 PM
The-Toilet 

The-Toilet said:

I def think having side bets are great for poker and giving high stakes players incentive to play more events.  But at the same time I also do see how it could be a problem.  Lets say Ivey was really shady, and had a 10 mil side bet to win first.  Once hes heads up he could pay the opponent 1 mil to lose to him.  Of course I don't think he would do this but I cant say the same for every single person out there.

June 11, 2009 9:35 PM
jdsas 

jdsas said:

Really?  The Ambassador?  I hope you write an article a week.  Thanks for the insight.

June 11, 2009 9:58 PM
stsitron 

stsitron said:

much <3 for the Sexton he was sitting out for 5 orbits day 2 (in the money of the plh.......such a ballar

June 11, 2009 11:23 PM
FortuneMeyers 

FortuneMeyers said:

Nice article Mike and welcome.

June 12, 2009 4:15 AM
Popperhead 

Popperhead said:

Welcome Mike I heard on Poker Road that he tipped only 3k

Good luck in the O8/Stud8

June 12, 2009 5:41 AM
elendil 

elendil said:

What Gamblers!! I'm a big fan Mike.

June 12, 2009 6:14 AM
33mikemcg 

33mikemcg said:

Thanks for the insight.  I hope to see more of you at pocket 5's.  GL see you next week!!

June 12, 2009 6:34 AM
andressoprano 

andressoprano said:

Such an honor having you on the front page Mike, welcome.

June 12, 2009 10:01 AM
ApesAreFun 

ApesAreFun said:

Welcome to P5s Mike! Great article, I'm a big fan!

June 12, 2009 2:19 PM
Hendoveraces 

Hendoveraces said:

There is no way ivey tipped the whole amount....I am a dealer and what a lot of people dont know about these high limit players is that they are all actually really big jerks...and hardly ever tip dealers what they should...Ivey is notorious for this as most high limit players are....3,000 sounds about right for him........awesome player and maybe the best but u ask any dealer...and they wont have much good to say about him, lol

June 12, 2009 9:06 PM
royalStud 

royalStud said:

Shuffle up and deal was an awesome book...you da man!

June 13, 2009 8:34 AM
swooshdog4 

swooshdog4 said:

so Mike, had you won the prop bet against Ivey, would you have reported this on your federal income tax statement?

will you include this loss as a gambling loss?

also, now that you have formally and permanently announced that Ivey profits from prop bets, could this information be used as evidence in a federal audit against Ivey if he does not itemize every prop bet victory and loss?

tl;dr - prop bets and federal tax evasion?

June 15, 2009 12:27 AM

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