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Phil Ivey Net Worth Poker
Amarylisa Gonsalves
Posted on 13 Jan, 2024
By Amarylisa Gonsalves
On 13 Jan, 2024
By Amarylisa Gonsalves
On 13 Jan, 2024

Phil Ivey Net Worth 2024

Poker and wads of money are considered to be synonymous, but what is often ignored is the hard work and talent of the poker players that goes into making that kind of money. As they say ‘Rome wasn’t built in a day’ today we are daring to twist it into ‘Phil Ivey wasn’t built in a day.’

Sounds strange? Of everything else, why Ivey?! Well, because this player’s net worth from poker is sure to blow your mind (and maybe even make you feel a little poor!) But he did not get rich from day one. It is his years of hard work and consistency that has brought him where he is today, and also made him known to us as Phil Ivey—The G.O.A.T.

So before we jump into Phil Ivey’s net worth in the year 2024, let us first look at where Ivey was and how he rose to stardom in the poker arena.

Phil Ivey’s Early Life:

Ivey was born on the 1st February 1977 as Phillip Dennis Ivey Jr. He was born in Riverside California, however, his parents moved to Roselle, New Jersey when he was an infant, and that is where he eventually grew up.

He went to Old Bridge High School in New Jersey and graduated from there. As a teenager Ivey worked in a telemarketing firm located in New Brunswick, New Jersey. By then he had developed an interest for poker and played against his co-workers. 

Phil Ivey’s Poker Career:

Ivey was introduced to poker at a young age (eight-year-old), by his grandfather. Grandpa Ivey and little Ivey spent a lot of their time playing 5-Card Stud and even placing some money for the stakes.

Interestingly, Ivey Jr turned out to be a natural player, and played smartly to win games on his own from a young age. As he grew older, his interest in the game only kept increasing and Ivey started playing poker professionally in Atlantic City, New Jersey, while he was still a teenager.

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World Series of Poker

Fondly regarded as the ‘Tiger Woods of Poker,’ Ivey flaunts an impressive collection of 10 World Series of Poker (WSOP) bracelets. One of his biggest accomplishments include winning three bracelets at the 2002 WSOP alone. This achievement earned him the nickname ‘The Phenom’ among the poker folks. He also holds other WSOP bracelets won in Pot Limit Omaha (PLO) events in 2000 and 2005. 

In 2000, Ivey became the first person ever to beat Amarillo Slim at a WSOP final table heads-up. Also, this was Ivey’s maiden WSOP bracelet, making it all the more special. Apart from his top place finishes and bracelets, Ivey has also enjoyed great success at WSOP.

ALSO READ: List Of All Phil Ivey’s WSOP Bracelets

He finished among the top 25 four times at the WSOP between 2002 and 2009. One of his most memorable bracelet wins would be his sixth bracelet that he won after beating John Monnette in a long heads-up battle at the $2,500 No-Limit 2-7 Draw Lowball Event at the 2009 WSOP.  In the same year, he went on to grab another bracelet in the $2,500 1/2 Seven Card Stud Hi/Lo 1/2 Omaha Hi/Lo event. This time he bested a field of 376 players, and finally defeated Ming Lee in the heads-up.

During the 2010 WSOP, Ivey received the most votes for the Tournament of Champions. It is also the year when he won his eighth bracelet by overpowering some notable pros like Bill Chen, John Juanda, Jeff Lisandro, and Chad Brown on the final table of the $3,000 H.O.R.S.E. event. 

With 10 WSOP bracelets to flaunt, Ivey aka ‘No Home Jerome’ currently shares the spot for the second most WSOP bracelets of all-time with Doyle Brunson and Johnny Chan. Clinching 10 bracelets at the age of 38, Ivey became the youngest player in the world to touch that milestone. The record was held by none other than poker legend Phil Hellmuth, who had achieved the feat at the age of 42. 

But that’s not all. Ivey collected his 10 bracelets within a span of just 14 years, that’s the fastest by any player in the world. The list of Ivey’s records just don’t end here. Interestingly, all of Ivey’s 10 bracelets have come from non-Hold’em events. Which makes him the all-time record holder for most bracelets won in non-Holdem events.

The 45-year-old American pro also holds the WSOP record for most mixed-game bracelets won, for his five bracelets which came from this format. Due to his versatility across all formats of the game Ivey is also regarded as the greatest all-round player in the world. Check out the complete list of Phil Ivey’s WSOP bracelets.  

ALSO READ: Top 10 Richest Poker Players By Net Worth 2022

World Poker Tour

Just like WSOP, Ivey’s relationship with the World Poker Tour (WPT) has also been a successful one. He has made it to nine final tables at the WPT. Interestingly, he has lost several of these WPT events while holding the same starting hand every time, an ace and a queen. 

Out of the 12 times, he cashed at WPT, nine times he has made it to the final tables, which were televised. Ivey’s highlight WPT memory would be when he made it to the final table at the LA Poker Classic at Commerce Casino during the sixth season of the WPT in February 2008. The final table included 16-time WSOP bracelet winner Phil Hellmuth and Nam Le, and Ivey eventually claimed the top spot for $1,596,100, thus putting an end to his losing streak of seven WPT final tables. In November 2022, he was also signed as the WPT Ambassador.

Legal Troubles

As much as Ivey is loved and highly regarded in the poker circuit for his game, the law did not spare him. He found himself sued twice. Why? Because casinos accused him of cheating by manipulation of edge sorting both the times. In both the incidents he lost the initial as well as appeals made in the court. However, an appeal court in the second incident arranged for an agreed settlement between Ivey and the casino.

In August of 2012, Ivey reportedly won £7,300,000 (US$12,000,000) for playing Punto Banco at a casino in London named Crockfords. However, he was denied payment beyond his initial £1 million stake on the grounds that he used edge sorting. Following the incident, along with his lawyers, Ivey issued a statement denying any misconduct. The statement read, “Any allegations of wrongdoing by Crockfords are denied by me in the very strongest of terms.”

ALSO READ: Phil Ivey, Borgata Casino Settles $10 Million Legal Battle

Similarly, in April 2014, his hometown casino, The Borgata Casino, sued Ivey. They claimed that he took advantage of a manufacturing defect of the playing card, and thus cheated at baccarat. Both the casinos reportedly used the cards manufactured by the same company, Gemaco. 

Borgata casino sued Ivey for a total of $15.6 million, which included $10 million in winnings. They also sued the card manufacturer along with Ivey.

On 8th October 2014, a UK-based court held that the techniques used by Ivey at Crockford’s amounted to cheating and the court decided in favour of the casino. A year later, Ivey was permitted to appeal, and he did appeal. In November 2016, his appeal was dismissed by the appeal court. The court upheld the earlier decision that Ivey’s technique was indeed cheating.

Ivey further appealed to the Supreme Court of the United Kingdom, which gave an unanimous judgement on 25th October 2017, favouring the casino. The court held that Ivey’s actions amounted to cheating. The judgement further stated that if it had been necessary to make a finding on dishonesty, it would have determined that Ivey’s conduct was dishonest.

In the Borgata case, in January 2019, a federal judge permitted the casino to pursue Ivey’s assets in Nevada to recover more than $10 million he won at the casino using edge-sorting. On 27th June 2019, the US Marshals Service served a writ of execution to the WSOP. Consequently, they seized Ivey’s 2019 WSOP winnings which would be paid to the Borgata casino.

An oral argument took place on 17th September 2019, in which the United States Court of Appeals for the Third Circuit suggested Ivey and Borgata to appear for the court’s mediation program. On 10th July 2020, both the parties had reportedly agreed to a settlement.

Phil Ivey’s Charity Work 

Apart from being a professional player, Ivey is also associated with charities. Ivey, along with his mother, has founded The Budding Ivey Foundation, that aims to ensure children’s upliftment in underprivileged conditions. The organization also sponsors children so that these deprived children can attain a formal education.

Phil Ivey Net Worth:

Finally, coming to Ivey’s net worth in 2024, he ranks among the top 10 richest players by net worth in 2024. His net worth stands at a massive $125 million. His total live tournament earnings amount to $38,281,867, while his best live cash so far has been $3,582,753. He ranks 9th in the All Time Money List according to Hendon Mob. 

For more news and updates, keep reading GutshotMagazine.com. Follow us on Facebook,  Instagram,  Twitter,  and Telegram.

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