National Enquirer: Phelps Loses Small Fortune Playing Poker
The tabloid reports that friends of the Rodgers Forge Olympian are concerned Phelps is on a destructive path.
Michael Phelps, the most decorated Olympian of all time, may have a gambling probem.
According to The National Enquirer, which is known to occasionally get a story right, the Rodgers Forge native is obsessed with poker and has already lost a small fortune from his estimated $45 million net worth.
Friends of the swimmer, the tabloid reports, are concerned about Phelps' habits.
"All Michael thinks about is gambling," a poker-playing pal told the tabloid. "When he’s home in Maryland, Michael plays in a weekly card game where the buy-in is $25,000. Michael has wagered hundreds of thousands of dollars on poker already, and now that he’s retired from competitive swimming, everyone’s worried he’ll be betting millions more."
Phelps' mother, Deborah Phelps, is worried her son might "self-destruct" without the guidance of swim coach Bob Bowman, the Enquirer story reads.
A call seeking comment from Deborah Phelps was not returned.
John Patterson
5:06 pm on Monday, August 20, 2012
Really? You're writing stories about stories in the National Enquirer?
Patch was supposed to fill the void where traditional journalism -- not yellow journalism -- left off.
This is embarrassing, and not for Michael Phelps.
Steve
5:14 pm on Monday, August 20, 2012
A weekly $25,000 poker game . That's $130k per year!
Other Tim
7:47 pm on Monday, August 20, 2012
Missed a zero there.
Steve
5:16 pm on Monday, August 20, 2012
It was also published in the Telegraph.
Southland Hills Mom
8:46 pm on Monday, August 20, 2012
I could not agree more with John Patterson (first comment). One week after Tyler Waldman leaves, and the Patch has sunk to the National Enquirer as a source??? Very sloppy.
Jim Jones
10:00 pm on Monday, August 20, 2012
Actually, I ran into a guy at a marina two weeks ago who told me that he plays in a poker game once a week and that Phelps is often there. He did not specify the buy in, but he did say that it is high rollers only and they toss around thousands at a time. Based on Phelps own admissions that he likes to go to Vegas and gamble, the story is probably accurate. Is it really news, not really for a guy worth as much as him. When he dwindles his earnings down to a million or so maybe it can be newsworthy. As for now, not so much.
M. Sullivan
2:19 pm on Tuesday, August 21, 2012
Remember the old saying; "A fool and his money are soon parted." He's not exactly the brightest.