Phil Mickelson Had Gambling Losses of $40 Million From 2010-14, According to Biographer

The six-time major champion may have had financial difficulties as a result of eight-figure gambling losses that were revealed via disclosure from an insider trading lawsuit.

Phil Mickelson had gambling losses totaling more than $40 million over a four-year period from 2010-14, according to the author of a biography that will publish later this month.

Alan Shipnuck, whose story Thursday appeared on the Fire Pit Collective website, said the losses were disclosed as part of Mickelson’s legal fallout from the Billy Walters insider trading case in which the golfer was named as a relief defendant and had to repay approximately $1 million from a stock deal.

Shipnuck said that according to a source with direct access, Mickelson had gambling losses totaling more than $40 million in the four-year period (2010–14) that was scrutinized.

During that time, Mickelson’s income was estimated to be just north of $40 million a year.

Shipnuck wrote: “That’s an obscene amount of money, but once he paid his taxes (including the California tariffs he publicly railed against), he was left with, what, low-20s? Then he had to cover his plane and mansion(s), plus his agent, caddie, pilots, chef, personal trainer, swing coaches and sundry others. Throw in all the other expenses of a big life—like an actual T. Rex skull for a birthday present—and that leaves, what, $10 million?

“Per the government audit, that’s roughly how much Mickelson averaged in annual gambling losses. (And we don’t know what we don’t know.) In other words, it’s quite possible he was barely breaking even, or maybe even in the red. And Mickelson’s income dropped considerably during his winless years from 2014 to ’17.”

Mickelson has been embroiled in controversy this year due to his dealings with Greg Norman’s Saudi-backed LIV Golf Investments, which was set to launch a rival league this year with nine-figure guarantees.

Because of the fallout over Mickelson, Norman pivoted to a series of eight events this year. And Mickelson has sought a release to play in the first one next month.

What remains unclear is if Mickelson will defend his PGA Championship title in two weeks at Southern Hills.

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