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☆ A Hollywood director took millions of dollars in Netflix funding and used it to trade options and crypto, report says. Here's a closer look at how he used the cash.
▼ + stars: | 2023-11-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

A movie director used Netflix funds to trade options and cryptocurrencies, The New York Times said. "47 Ronin" director Carl Erik Rinsch bet on Gilead Sciences and dogecoin, and against the S&P 500. He lost $6 million on options, but a winning bet on dogecoin boosted his balance to $27 million. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA Hollywood director took millions of dollars of production funding from Netflix and used it to trade stock options and cryptocurrencies, The New York Times said on Wednesday.

Persons: Carl Erik Rinsch, dogecoin, —, Here's, Carl Erik Rinsch's, Rinsch's, Rinsch, Gilead, Dogecoin, Constantin, Rinsch didn't Organizations: The New York Times, Gilead Sciences, Service, Netflix Locations: The, Gilead

☆ The inside story of how FanDuel upended US sports betting with the same-game parlay and used it to dominate the market
▼ + stars: | 2023-11-07 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +11 min

The daily-fantasy-sports company, which European gambling giant Flutter Entertainment had acquired, was racing to introduce its "same-game parlay" to the US. The same-game parlay, a phrase FanDuel coined, has since caught fire, meshing well with the high-scoring, stat-driven, athlete-personality focus of US sports — and propelled FanDuel to the forefront of the betting market. "The same-game parlay was the right product in the right market at exactly the right time." Every sports-betting operator, from DraftKings to newcomer Fanatics, now has or is building its version of the same-game parlay. After the NBA resumed play in July 2020, the same-game parlay grew from 5% to 10% of FanDuel's bets, Farren said.

Persons: FanDuel, Scott Longley, parlay, Conor Farren, FanDuel's, DraftKings, Entain, parlays, Longley, would've, John Maguire, Maguire, isn't, LeBron James, Jalen Rose, Sportsbet, Paddy Power Betfair, Farren, It's, Ben Hider, Penn Organizations: NFL, Krejcik, Houston Rockets, Los Angeles Lakers, Australian Football League, Australian rugby, NBA, ESPN Bet, FanDuel, Industry Locations: DraftKings, Melbourne, Australia, England, FanDuel

☆ Dollar eases as traders bet Fed done with rate hikes
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: +3 min

United States one dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington. The index is on course to clock a 0.3% drop for the week, just its third week of losses since July. The European Central Bank last week snapped a streak of 10 straight rate increases, with the discussion shifting to how long the rates would stay high. The Japanese yen was 150.41 per dollar, keeping traders nervy and looking for signs of intervention from Japanese authorities. The Australian dollar eased 0.19% to $0.642, while the New Zealand dollar fell 0.24% to $0.588.

Persons: Tapas Strickland, Flavio Carpenzano, Isabel Schnabel, Kazuo Ueda, Sterling Organizations: Engraving, U.S . Federal, NAB, Investor, Analysts, Fed, ECB, Investment, Capital Group, European Central Bank, Bank of Japan, Reuters, Bank of England, New Zealand Locations: United, Washington, U.S

☆ As Disney, Fanatics threats emerge, FanDuel CEOs says online sports betting isn't for the 'faint of heart'
▼ + stars: | 2023-11-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

Currently, 35 states and Washington, D.C., have legal sports betting, according to the AGA. Fanatics, the Michael Rubin-founded sports merchandise company, acquired the U.S. operations of PointsBet after a several-year pursuit of an entry to the sports betting market. "These are partnerships that we've been building up for years long before online sports betting was legal in the states." And oh, by the way, you're spending a lot of money making sure that again, you can responsibly bring consumers to your platform," Howe said. Hear how CEOs from Target, FedEx, Kraft Heinz, FanDuel and more are adapting, innovating and transforming in this new era of business.

Persons: FanDuel, Michael Rubin, Amy Howe, CNBC's Contessa Brewer, you've, Howe, there's, we've, It's, Kraft Heinz Organizations: Supreme, American Gaming Association, D.C, Caesars, Disney, ESPN, ESPN Bet, Penn Entertainment, CNBC's, CNBC, FanDuel, Ticketmaster, NFL, NBA, MLB, NHL, Google, Target, FedEx, Kraft Locations: U.S, Washington, PointsBet

☆ Expand the 'Magnificent 7' to include Warren Buffett's Berkshire Hathaway, investment chief says
▼ + stars: | 2023-10-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett's Berkshire Hathaway should be part of a "Magnificent Eight," Jim Worden says. AdvertisementAdvertisementThe "Magnificent Seven" should be expanded to include Warren Buffett's Berkshire Hathaway, one investment chief says. Berkshire commands a larger market capitalization than Tesla or Meta, but it's not counted as a member of the Magnificent Seven because it's not a fast-growing technology company. Including it would provide significant diversification to the group of high-flying stocks, Worden said. It also holds roughly $350 billion worth of stocks, including multibillion-dollar stakes in Apple, Bank of America, Chevron, Coca-Cola, and Kraft Heinz.

Persons: Warren, Berkshire Hathaway, Jim Worden, —, Warren Buffett's Berkshire Hathaway, I'm, it's, Worden, Kraft Heinz, Buffett, Charlie Munger, Munger Organizations: Service, Apple, Microsoft, Nvidia, Wealth Consulting, Berkshire, Bank of America, Fed Locations: Chevron, Berkshire, Treasuries

☆ DraftKings edged out FanDuel for the first time as the market-share leader in US online gambling, a new report shows
▼ + stars: | 2023-10-19 | by ( Margaret Fleming | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

There's a new top dog in US online gambling. DraftKings edged out rival FanDuel for the largest portion of online gambling market share in the US, according to a Wednesday report from the market research firm Eilers & Krejcik Gaming. DraftKings had amassed about 31% of online gambling gross gaming revenue in the third quarter through August 23, while FanDuel's market-share lead had dipped to 30%. But DraftKings' share has steadily grown steadily since, per the report. FanDuel, meanwhile, has fallen from a Q1 2023 peak of 37% online gambling share.

Persons: FanDuel, DraftKings, sportsbooks, Penn, BetMGM Organizations: Krejcik, Gross, Golden, ESPN Bet, Caesars Entertainment, FanDuel, Wall Locations: BetMGM, Bet365

The AI boom has triggered a surge in spending on data centers. The AI boom has supercharged a wave of spending on data centers. AdvertisementAdvertisementThe data center boom is set to double or triple the amount of energy consumed by these data centers. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume.

Persons: —, ChatGPT, it's, Jonathan Gray, Cowen, Marc Ganzi, Shaolei Ren, Tom Keane, Keane, Bernstein, Mark Moerdler, Jahi, Matt McCollister, Pena Popo, Blackstone, Karla Moran, Moran Organizations: Service, McKinsey, Nvidia, UC Riverside, Microsoft, Washington, Getty, Lincoln Property Company, Harrison Street, Google, Meta, Amazon, Blackstone, Income Trust, QTS Realty Trust, Amazon Web Services, AP, Phoenix Locations: America, Rural America, Loudoun Meadows, Aldie , VA, Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Washington, DC, Virginia, New York City, Salt

☆ Asian shares rally as markets wager on Fed pivot; US inflation in focus
▼ + stars: | 2023-10-12 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 0.7% to the highest level in three weeks. Tokyo's Nikkei (.N225) rallied 1.3% for a third straight day, climbing away from its five-month low hit last week. U.S. Fed Governor Christopher Waller on Wednesday said higher market interest rates may help the Fed slow inflation, and let it "watch and see" if its own policy rate needs to rise again or not. With the long-awaited pivot for the Fed in sight, traders are bracing for the all-important U.S. consumer inflation report later in the day. Stakes are higher because a producer price inflation report came in hotter than expected on Wednesday.

Persons: HSI, Christopher Waller, Waller, Philip Jefferson, Lorie Logan, Alan Ruskin, payrolls, Brent, Stella Qiu, Shri Navaratnam Organizations: SYDNEY, Federal Reserve, Tokyo's Nikkei, Central Huijin Investment, Federal, U.S, Fed, Dallas Fed, Markets, FedTool, Deutsche Bank AG, Saudi, . West Texas, Thomson Locations: Asia, Pacific, Japan, U.S, Saudi Arabia, Israel, Palestine

☆ Warren Buffett's deputy isn't in 'The Big Short' like Michael Burry - but he also bet against the housing bubble and spoke to Michael Lewis
▼ + stars: | 2023-10-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

"The Big Short" starred Michael Burry and others who bet the mid-2000s housing bubble would burst. Author Michael Lewis phoned Combs to talk about his housing wager while researching "The Big Short." AdvertisementAdvertisementMichael Burry and the other stars of "The Big Short" weren't the only investors to uncover the toxic assets underpinning the mid-2000s housing bubble, and place bets on its spectacular collapse. Lewis said he was working on a book about the whole situation that would become "The Big Short." AdvertisementAdvertisementCombs finished the story by saying he enjoys being "one small little piece" of the fascinating backstory behind "The Big Short."

Persons: Michael Burry, Todd Combs, Warren Buffett's, Michael Lewis, Combs, —, Warren, Ted Weschler, Baupost Group's Seth Klarman, Klarman, Bear Stearns, Lewis, Steve Eisman, Danny Moses, Greg Lippmann, Buffett, it's Organizations: Service, Berkshire Hathaway's, Countrywide, Washington, Long, Mortgage, Street, Securities and Exchange Commission Locations: Berkshire, Bear Stearns

☆ Australia central bank holds rates at 4.1% for fourth month
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Oct 3 (Reuters) - Australia's central bank held interest rates steady on Tuesday for a fourth month, but again warned that further tightening might be needed to bring inflation to heel in a reasonable timeframe. Wrapping up its October policy meeting, the Reserve Bank of Australia (RBA) held rates at 4.10% and said recent data were consistent with inflation returning to its 2–3 percent target over time with output and employment still growing. Markets had wagered heavily on a steady outcome this month, though there is still some chance of a hike in November depending on how inflation progresses over the third quarter. Reporting by Wayne Cole; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Thomson

ATLANTIC CITY, N.J. (AP) — The online sports betting company PointsBet committed three different types of violations of New Jersey sports betting laws, including taking bets on soccer games that had already ended, according to gambling regulators who fined the company $25,000. One aspect of the fine involved the company accepting bets in August 2021 on the outcome of five European soccer matches after the games had already ended. Political Cartoons View All 1171 ImagesAfter discovering the error, the bets were voided and the money from the customer's initial bets was returned, according to the gaming enforcement division. PointsBet blamed human error for the mistake, according to the gaming enforcement division. On Oct. 29, 2021, the company offered bets on a “League Of Legends” esports competition in which a player on one of the teams was 17 years old, under the legal minimum age of 18.

Persons: PointsBet, “ PointsBet, Peter's, Wayne Parry Organizations: CITY, New, New Jersey Attorney General's, Associated Press, of Gaming Enforcement, NCAA, St, Twitter Locations: N.J, New Jersey, PointsBet, Denver, www.twitter.com

☆ Phil Mickelson says gambling addiction was like a ‘hurricane’ which ‘caused a lot of damage’
▼ + stars: | 2023-09-19 | by ( Ben Morse | Kevin Dotson | ) edition.cnn.com time to read: +4 min

CNN —Phil Mickelson has opened up about his gambling addiction, saying on Monday that it was like a “hurricane” which “caused a lot of damage” in his life. Mickelson, who has previously talked about his struggles with sports gambling, posted on X – formerly known as Twitter – about his journey with his addiction in reference to the beginning of the NFL season. “Most of you will enjoy this football season with moderation while having lots of fun and entertainment,” the six-time major winner wrote. It’s like a hurricane is going on outside and I’m isolated in a shelter oblivious to what was happening. Mickelson went on to give his advice to others that might be struggling with gambling problems.

Persons: Phil Mickelson, “, Mickelson, ” Mickelson, wasn’t, I’ve, Amy, ”, “ I’m, Billy Walters, Walters, wagered, ” Walters, ” “, Zach Johnson, LIV Organizations: CNN, NFL, Europe, Ryder, PGA Tour Locations: Rome, Saudi

NEW YORK (AP) — The WNBA once again had strong metrics as the league had its most-watched regular season in 21 years and its highest average attendance since 2018. Viewership was up 21% over last year across its national television partners and the league's average attendance of 6,615 fans was the WNBA's highest since the 2018 season. An expanded schedule to 40 games this season helped the league gain its highest total attendance in 13 years (1,587,488). Las Vegas also hosted the highest-attended game this season, drawing a crowd of 17,406 on Sunday against Brittney Griner and the Phoenix Mercury on the final day of the regular season. That game was played at the bigger T-Mobile Arena as opposed to the Aces regular venue, which seats about 12,000.

Persons: Cathy Engelbert, Brittney Griner, Nikki Fargas, ___ Organizations: WNBA, Aces, Phoenix Mercury, Mobile, ” Aces, ESPN Locations: Vegas

☆ The S&P 500 looks risky and expensive - and could plunge 25% if something shocks the system, Morgan Stanley's stock chief warns
▼ + stars: | 2023-09-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The S&P 500 is priced for perfection and could plunge 25% if problems crop up, Mike Wilson says. Morgan Stanley's stock chief says the outlook for company earnings and the economy is pretty grim. The benchmark S&P 500 and tech-heavy Nasdaq Composite have rallied 17% and 33% respectively this year. He suggested a shock to the system of that kind could send the S&P 500 plummeting from nearly 4,500 points today to the low 3,000s — a drop of more than 25%. AdvertisementAdvertisementIn short, Wilson sees very limited upside and material downside to investing in the S&P 500 today.

Persons: Mike Wilson, Morgan Stanley's, Wilson, Rosenberg, Morgan, China's, Sharp, aren't Organizations: Big Tech, Service, Nasdaq, Federal Reserve, Wall, Bank of, Nvidia, Microsoft Locations: Wall, Silicon, Bank of Japan

☆ His Friend Wagered He Couldn’t Flip This $42.5 Million Megamansion. He’s All In.
▼ + stars: | 2023-09-08 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/luxury-homes/malibu-megamansion-lists-for-42-5-million-7ab913c9

Persons: Dow Jones Locations: malibu

☆ His Friend Wagered He Couldn’t Flip This $42.5 Million Megamansion. He’s All In
▼ + stars: | 2023-09-07 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Locations: malibu

The rivalry game between Iowa and Iowa State always ratchets up the intensity of both fan bases every year, even if the two programs are unranked as they are this season. Five Iowa State players who were projected to be starters before the season are suspended. Other football players are suspended as the two schools head into their 70th overall meeting in a series that began in 1894. Iowa State quarterback Hunter Dekkers, running back Jirehl Brock, offensive lineman Jacob Remsburg, tight end DeShawn Hanika and defensive lineman Isaiah Lee were charged. Both teams won their openers last week, and the absences of the suspended players did not appear to make an impact.

Persons: Ames, Donald Trump, “, Kirk Ferentz, ”, Tom Stawniak, Stawniak, Max Urick, ” Stawniak, Garrett Yager, You’ve, Hunter Dekkers, Jirehl Brock, Jacob Remsburg, Isaiah Lee, Noah Shannon, Michele Wiggins, ” Wiggins, there’s, Schultz, John Albeck, Nick Allman, they're, John Bohnenkamp Organizations: Iowa State, Five Iowa State, NCAA, Hawkeyes, ” Iowa’s, Criminal Investigations, Iowa, Cyclones, Associated Press, AP Locations: Iowa, ” Iowa, Urbandale , Iowa, Bellevue , Nebraska, Omaha , Nebraska, Omaha, Iowa City

☆ Asia shares extend rally as China mood turns less bleak
▼ + stars: | 2023-09-04 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.0%, having climbed 2.3% last week. EUROSTOXX 50 futures added 0.3% and FTSE futures rose 0.4%. Central banks in Canada and Australia hold their own meetings this week and both are expected to hold rates steady.

Persons: Aly, Stocks, Goldman Sachs, Treasuries, Christine Lagarde, Brent firmed, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Federal, Country Garden, Japan's Nikkei, Nasdaq, Holdings, Federal Reserve, European Central Bank, Thomson Locations: Shanghai, Shenzhen, China, U.S, SYDNEY, Beijing, United States, Asia, Pacific, Japan, Canada, Australia, Saudi Arabia

☆ Blackstone's data center gamble
▼ + stars: | 2023-08-28 | by ( Daniel Geiger | Rebecca Ungarino | ) www.businessinsider.com time to read: +12 min

The firm has recently touted its data center investments amid the artificial intelligence boom. Blackstone's push into data centers comes with its own set of challenges and questions. "You might not own apartment buildings in 10 years, but the largest data center company in the world." Meghji said in the company's video that interest from data center users in QTS data centers had doubled "since ChatGPT came out." Gerber said he had recently discussed data center investments with Blackstone representatives and has confidence in the strategy.

Persons: Blackstone, —, Glenn Schorr, Schorr, outflows, Stephen Tuckwood, Tuckwood, Jonathan Gray, Gray, Jeenah, Chad Williams, BREIT, they're, Patrick Davitt, QTS, Nadeem Meghji, Meghji, ChatGPT, Matthew Barakat, Prince William County, redemptions, Selwyn Gerber, Gerber, Matt Malone Organizations: Blackstone, Income Trust, QTS Realty Trust, Evercore, Wealth Management, Reuters, Autonomous Research, Blackstone Infrastructure Partners, McKinsey, AP, Starwood, MSCI's, Los, RVW, Opto Investments, FS Investments Locations: California, BREIT, QTS, Americas, CBRE, Manassas , Virginia, Prince William, Virginia, Brookfield, Los Angeles, Bellagio, Las Vegas

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
▼ + stars: | 2023-08-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. "Market pricing currently favours a pause, but the market has underpriced the Fed’s actions before," Brandham cautioned. The Australian dollar rose 0.20% to $0.6534.

Persons: Florence Lo, Ryan Brandham, Brandham, Philip Lowe, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: U.S, REUTERS, Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia, Thomson Locations: SINGAPORE, Japan, U.S, Singapore

☆ Dollar steady after CPI data bolsters Fed pause bets, yen nears 145
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. The Australian dollar rose 0.20% to $0.6534. Sterling was last at $1.2684, up 0.07% on the day, looking to snap its three-day losing streak ahead of GDP data.

Persons: Ryan Brandham, Brandham, Philip Lowe, Sterling Organizations: Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia Locations: Tokyo, Japan, U.S

☆ Phil Mickelson considered betting on Team USA to win the Ryder Cup – and lost $100 million gambling, book says
▼ + stars: | 2023-08-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Phil Mickelson racked up $100 million worth of losses gambling, according to a new book by Billy Walters. The golf star also tried to bet $400,000 on Team USA at the 2012 Ryder Cup, Walters wrote. Phil Mickelson has bet over $1 billion over the past three decades, racked up $100 million worth of losses, and once considered placing a wager on Team USA winning the Ryder Cup, according to a new book. Walters adds that in September 2012, Mickelson asked him to place a $400,000 bet on Team USA to win the Ryder Cup – a tournament Mickelson was playing in — but he refused, asking the former World No. Mickleson denied ever betting on the Ryder Cup.

Persons: Phil Mickelson, Billy Walters, Walters, " Mickelson, Mickelson, Mickleson, Phil, " Walters Organizations: USA, Morning, Ryder, Dean Foods, Prosecutors, FBI Locations: —, Europe, what's

CNN —Phil Mickelson considered a $400,000 bet on the 2012 Ryder Cup – in which he was participating – according to a book that will be released later this month by professional gambler Billy Walters. “The only other person I know who surpassed that kind of volume,” Walters wrote, “is me.”In a Thursday post on X, formerly known as Twitter, Mickelson denied betting on the 2012 Ryder Cup. Walters wrote he doesn’t know if Mickelson ever placed that bet. Walters suggested in the book, according to Golf Digest, that Mickelson was to blame for the prison sentence. The superstar came under fire last year over his involvement in the controversial LIV Golf, the world’s most lucrative golf tour.

Persons: Phil Mickelson, Billy Walters, Walters, Mickelson, Mickelson “, ” “, “, ” Walters, ”, Pete Rose, “ You’re, Arnold Palmer, ” Mickelson, “ Haven’t, Amy, Nevada ’ Walters, Donald Trump, “ Phil Mickelson, Phil, LIV Golf, Alan Shipnuck, “ Phil, ” Shipnuck, Jamal Khashoggi, LIV, Mohammed bin Salman, Khashoggi, Bin Salman Organizations: CNN, Twitter, Ryder, US, Dean Foods, United States, Southern, of, FBI, Securities and Exchange, League, PGA Tour, Saudi Arabia’s Public Investment Fund, Saudi, Congress Locations: Nevada, New York, of New York, Saudi, Saudi Arabia, Washington, al Qaeda

☆ Golf legend Phil Mickelson wagered more than $1 billion over decades, lost around $100 million, gambler claims
▼ + stars: | 2023-08-10 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

"Walters told Mickelson, according to an excerpt of the book published by Golf Digest. Walters writes that he asked Mickelson if he remembered what happened to Pete Rose, who was banned from baseball for life for betting on the Cincinnati Reds while managing that team. " 'You're seen as a modern-day Arnold Palmer,' " Walters writes he told Mickelson. 'Walters, 77, said that Mickelson replied: "Alright, alright." Walters wrote that he hoped Mickelson did not place that bet somewhere else, as the American team lost in a stunning comeback by the European squad that became known as the "Miracle at Medinah."

Persons: Phil Mickelson, Phil Mickelson wagered, Billy Walters, Walters, Mickelson, Pete Rose, Arnold Palmer Organizations: Safeway, Silverado, U.S, Ryder, Country, Golf Digest, Cincinnati Reds, American Locations: Napa , Calif

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