Less than a week before the 2020 U.S. Open is set to get underway at Winged Foot Golf Club in Mamaroneck, New York, CBSSports.com has reported that a bettor, presumably with a great deal of disposable income, has placed a $45,000 wager on Phil Mickelson to win the 120th edition of the tournament.
The bet was placed at 75/1 (+7500) odds at one of William Hill's Southern Nevada Sports Books and would result in a net win of $3,375,000 if Mickelson claims his sixth Major on Sunday, September 20, 2020. The wager represents the second largest liability for an individual golf wager in William Hill US history.
The U.S. Open is the one major golf championship that Mickelson hasn't won in his illustrious career. He's finished second a record six times, and hasn't finished better than 28th in his last six starts of the tournament.
As any golf fan
knows, Philly Mick is a legendary gambler.
For some notable stories about Phil and gambling, see here
And as any golf fan, or normal American sports fan, also knows, gambling has a very dark side if a person is not careful. The same principle applies to famous pro golfers as well.
ESPN reported in 2017 that Federal prosecutors in the Southern District of New York initiated a criminal prosecution against Las Vegas businessman and renowned gambler William "Billy" Walters in U.S. District Court for securities fraud, conspiracy and wire fraud. From 2008 to 2014, prosecutors in the Southern District of New York argued that Walters made $32 million in profit and avoided another $11 million in losses. Walters stood accused of trading on insider information on Dean Foods Co., which he obtained from former company chairman Thomas Davis.
During the trial prosecutors examined the relationship between Walters and one Phil Mickelson. According to media reports, he and Walters apparently had a relationship for decades, often playing golf together.
According to transcripts of the case, CNBC reported that the prosecution told the court that an independent business management firm, if called to testify, would say Mickelson was a client and that "records show that in July 2012 Mickelson owed a debt to William T. Walters, the defendant, related to sports gambling." The prosecution added that on Sept. 19, 2012, Mickelson "transferred $1,950,000" to Walters. Also stipulated was that Mickelson had accrued and repaid similar gambling debts in the past to Walters.
This wasn’t just any nickel and dime trial; in fact, as reported by CNBC, Walters was convicted on all 10 counts he faced, including securities fraud, conspiracy and wire fraud. Walters was sentenced to five years in prison over his role in a $43 million insider-trading scheme and was fined $25 million.
In addition to the revealing information about Mickelson’s enormous gambling debts, court records and media reports also indicated that Walters provided a stock tip to Mickelson and noted corporate investor Carl Icahn. The prosecution said Mickelson made nearly $1 million after Walters advised him in 2012 to buy stock in Dean Foods.
Golfworld reported that Mickelson’s trading in Dean Foods was used as evidence against Walters, but Mickelson did not testify at trial. The golfer’s lawyers informed the prosecution and defense that if called by either side, Mickelson would decline to testify based on his Fifth Amendment right against self-incrimination.
ESPN’s Outside the Lines also reported that in 2016 Mickelson had a connection to an illegal offshore gambling operation. Federal court filings revealed an intermediary had acted as a conduit to pay a $2.7 million gambling debt Mickelson owed an offshore sportsbook.
Gregory Silveira, a California-based agent for the offshore site, subsequently pleaded guilty to money laundering charges and remains incarcerated at a federal prison camp in Arizona. Mickelson was not criminally charged, though the government kept the nearly $3 million that was being transferred to allegedly pay off the gambling debt.
So, not only did Mickelson run up more than nearly $2 million in gambling debts with Walters (that’s a lot of $1 Nassaus) and $3 million in offshore gambling, kept by the government, but he also dodged prosecution after receiving a stock tip from Walters, the result of which profited Mickelson nearly $1 million, which amount was repaid.
Golfworld reported recently that Walters was released early from a five-year prison sentence in early May of this year. According to his lawyer, Richard Wright, Walters was released to his home due to his age, as it made him vulnerable to COVID-19 in prison. He will serve out the remainder of his sentence in Carlsbad, Calif. Maybe he’s the anonymous gambler that plunked down $45, 000 on his old (ex)pal Lefty to win the upcoming U.S. Open at Winged Foot. But I wouldn’t bet on it.
Whether you are a Phil fan or not you can sing along with the King about golf and gambling:
SUSPICIOUS NINES
(Words and music by Mark James (Francis Zambon);
Sony/ATV Songs LLC, Publishers)
(The songwriter, Mark James, not Elvis, did the very first recording of the song in 1968 on the Scepter Label)
I'm caught in a trap; I can't chip out
Because I gambled too much baby
Wait 'til you see what they will do to me
When I go and tell them I can't pay
I can't go on a-playin' these suspicious nines
These low-down and betrayin' suspicious nines
In the rough and the trees, dribbled shots from the tees
I've found every hazard in this pasture
There I go again, put down another ten
I'm losin' more than I made last year
I can't go on a-playin' these suspicious nines
These low-down and betrayin' suspicious nines
LADIES AND
GENTLEMEN... Elvis has left the golf course.
AMDG
© R. E. Kelly 2012 -2020
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