Has Phil Mickelson paid off his gambling debt?

Phil Mickelson has been open about his gambling addiction, which was the source of his major losses. Between 2010 and 2014, the golfer reportedly lost $40 million. His gamble ended up being very embarrassing at one point, and the golfer eventually paid off everything.

Despite losing millions, Mickelson admitted that his financial situation was stable and that he was not experiencing any hardship. He most recently joined LIV Golf after signing a $200 million contract.

Phil Mickelson spoke about his gambling habits in an interview with Bob Harig, the Sports Illustrated journalist. He 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 further went on to say:

"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."

"Amy has been very supportive of it and with me and the process. We’re at place after many years where I feel comfortable with where that is. It isn’t a threat to me or my financial security. It was just a number of poor decisions."

It is important to note that Phil Mickelson was barred from playing on the PGA Tour because he joined LIV Golf.

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Phil Mickelson transferred $1,950,000 to a Vegas bettor

Federal prosecutors broke the record, claiming that Phil Mickelson paid $1,950,000 to Las Vegas gambling legend William "Billy" Walters in 2012. A transcript claiming to be from an independent business management firm with millions in debt was made public.

"Records show that in July 2012 Mickelson owed a debt to William T. Walters, the defendant, related to sports gambling."

Mickelson has since improved his game and is now competing in the LIV Golf Series. In his career, he has amassed a sizable fortune and his net worth is expected to be around $300 million in 2023.

Phil Mickelson is extremely successful, having won more than $100 million in tournaments. He earns between $40 and $50 million per year. Mickelson's career earnings are estimated to be around $800 million, with endorsements and investments accounting for the majority of his income. He is interested in real estate and has purchased a million-dollar plot of land in Jupiter, Florida.

After joining LIV Golf, Mickelson earned a total of $1,516,850 in 2022. He placed 33rd in the first event of the tumultuous series, adding $15,000 to his fortune. He then competed in an American tournament and finished 40th, earning him $133,000.

Phil Mickelson took home $146,000 and $134,000 in prize money in his next two tournaments, finishing 35th and 40th, respectively. He won $576,250 at the Chicago tournament, $233,600 in Bangkok, and $144,000 at the LIV Golf Tournament in Jeddah.