Why does Phil Mickelson have debt Real reason behind gambling debt explored Notifications New User posted their first comment this is comment text Approve Reject & ban Delete Logout

Why does Phil Mickelson have debt Real reason behind gambling debt explored

142nd Open Championship - Final Round (Image via Getty) recently became one of the wealthiest golfers. The golfer reportedly bagged a whopping to join the inaugural season of LIV Golf. The 2021 PGA Tour champion made his rebel series debut in June and has been creating ripples in the series ever since. However, the golfer did not always rank among the richest. to the newly introduced controversial circuit garnered some harsh criticism. This included people speculating that his move was motivated by money. Turns out, it was not wholly false because Mickelson was struggling with some gambling debts when he first considered a move to LIV Golf.

Phil Mickelson was known to have a gambling problem

Phil Mickelson has a gambling problem that has landed him in debt. The ace golfer has openly agreed to have struggled with gambling. According to Alan Shipnuck, the author of Phil Mickelson's biography, the golfer lost around $40 million from 2010 to 2014 due to his gambling habit. Phil: The Rip-Roaring (and Unauthorized!), the biography of , explores the athlete's personal troubles, which include hefty debts. According to the writer, Mickelson was in debt due to his gambling problems. The ace golfer was also investigated for insider trading in 2016, exposing that he owed millions to people. However, the player seems to be doing fine now, considering he makes hefty sums on the golf pitch.

Phil Mickelson s take on his gambling problem

Phil Mickelson himself addressed his gambling problem earlier this year. In an interview with Sports Illustrated's Bob Harig, the ace golfer spoke about his "gambling addiction" and admitted he suffered from it. The player went on record to call it a "reckless" and "embarrassing" problem. Opening up on his addiction, the 52-year-old athlete said: "My gambling got to a point of being reckless and embarrassing. I had to address it. And I’ve been addressing it for a number of years. And for hundreds of hours of therapy. I feel good where I’m at there. My family and I are and have been financially secure for some time.” He added: "Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know. The fact is I’ve been dealing with it for some time." The former PGA Tour champion also admitted to losing millions due to the habit. Terming it a part of "poor decisions" he made in the past, Mickelson said he was better at it now. It is interesting to note that Mickelson has admitted to being the one to propose bets to fellow golfers while on the course. The LIV golfer said that he would often bet during practice rounds of competitions to "create competition." However, the betting problem also added to his issue as he continually lost significant sums. A six-time major championship winner on the PGA Tour, Phil Mickelson seems to be doing fine now. He has so far earned $1,575,350 from LIV Golf. This is apart from the reported $200 million he took home as a signing bonus. Poll : 0 votes Quick Links More from Sportskeeda Thank You! Show More Comments No thanks Delete Cancel Update Reply ❮ ❯ No thanks Delete Cancel Update Reply ❮ ❯ Be the first one to comment on this story More from Sportskeeda Fetching more content... 1 Logout No Results Found