Phil Ivey Profile Summary
| Name | Phil Ivey |
|---|---|
| Birth Name | Phillip Dennis Ivey |
| Height | 1.88 m |
| Hair Colour | Dark brown |
| Eye Colour | Brown |
| Residence | Las Vegas |
| Nationality | American |
| Place of Birth | Riverside, California |
| Religion | Christianity |
| Ethnicity | Black |
| Profession | Poker Player |
| Source of wealth | Poker |
| Net Worth | $100 Million |
Phil Ivey's Net Worth in 2024: $100 Million
Phil Ivey is one of the most successful poker players of all time, with tournament winnings exceeding $30,000,000 million. Born in Riverside, California, he moved to New Jersey as a toddler. He learned how to play cards when he was eight, thanks to his grandfather’s tutoring. He honed his skills growing up and eventually practiced both in live tables and playing online. Today, he has won 10 WSOP Bracelets and was inducted into the Poker Hall of Fame in 2017, almost as soon as he turned 40, meeting the minimum age requirement threshold. He is tied with Doyle Brunson and Johnny Chan as the second-most decorated WSOP participant of all time.
A lot of people these days are too ambitious; their sights are set too high at the start and they end up diving in too deep
What Does Phil Ivey Do?
Phil Ivey is a professional poker player. Although he was played cards since he was a kid, he officially began his poker playing career in Atlantic City when he was aged 18, but he used a fake ID to pass as a 21-year-old named Jerome.
He is better known for his achievements in the World Series of Poker over the years, but Ivey has participated in countless poker events across the world. As a widely recognized poker player, he has played in events such as the Montecarlo Millions and even played at the Aussie Millions $250,000 Super High Roller in Australia, where he won $1 million and $2 million respectively.
He managed to win three WSOP Bracelets in one year (2003). Currently, Ivey resides in Las Vegas, and still participates in poker events in the United States and across the globe. He is ranked 11th on the money list.
How Did Phil Ivey Get Rich?
Phil Ivey earned his money playing in poker tournaments, which accounts for over $30,000,000 in winnings, as well as an undisclosed sum of cash playing in private games. He has had several money finished in multiple tournaments from all over the world.
Besides his monumental success as a poker player, Ivey was also one of the main founders of Full Tilt Poker. He earned $20 million playing in Full Tilt Poker, and he wasn’t directly guilty in the controversial 2011 “Black Friday” case, which saw the company lose its Alderney license and caused major names in the poker world to be subject to lawsuits. He distanced himself from the company after the incident.
He also got in trouble for edge sorting in two different occasions, in two different casinos. The technique allowed him to profit over $20,000,000 in winnings playing baccarat, which resulted in both casinos suing Ivey for cheating. He lost both lawsuits and appeals after he was proven by courts to have been, indeed, cheating the dealers.
As for his success playing in poker events, he has won bracelets in all of the following competitions:
- 2000 $2,500 Pot-Limit Omaha
- 2002 $1,500 Limit Seven Card Stud
- 2002 $2,500 Limit Seven Card Stud Hi-Lo
- 2002 $2,000 Limit S.H.O.E.
- 2005 $5,000 Pot-Limit Omaha
- 2009 $2,500 No-Limit 2-7 Lowball Draw
- 2009 $2,500 Omaha/Seven Card Stud Hi-Lo 8 or Better
- 2010 $3,000 H.O.R.S.E.
- 2013 WSOP APAC $2,200 Mixed Event (8-Game)
- 2014 $1,500 8-Game Mix
How Does Phil Ivey Like to Gamble?
Phil Ivey has always been a tournament player, having participated in multiple tournaments throughout the years. When he plays, he does so aggressively. He tends to raise a lot of times pre-flop, depending on the hand that he has at his disposal. Many times, as part of his strategy, he backs down when players respond to his raises.
What makes him so successful is his ability to read other players. He can tell how other people are playing and quickly get the hang of their game to understand the best methods to counteract them.
Still, if you look at some of his 2023 appearances, he seems to have taken a different approach and seems to like to play a more passive brand of poker. He has nothing to prove anymore, though, which may explain this switch in strategy.
What’s the Most He’s Ever Won on a Poker Tournament?
Ivey has had multiple money finishes throughout his poker playing career. However, his biggest ever win came in the 2014 Aussie Millions LK Boutique $250,000 Challenge event, where he netted AU$ 4,000,000 in winnings (around $2.7 million US dollars).
How Does Phil Ivey Spend His Money?
From philanthropic work to entrepreneurial investments, Phil Ivey hasn’t let his money go to waste. He has founded different organizations, excluding Full Tilt Poker, and he’s made the most of his poker success. Here are some of his most notable deeds and investments:
- Phil Ivey has donated a lot of money to charity. He notably donated $50,000 to the Las Vegas Empowered 2 Excel Charity in Las Vegas, and helped raise $260,000 for the same organization in a 2008 charity tournament.
- Ivey also founded the non-profit organization “Budding Ivey Foundation”, which is named after his grandfather, Leonard “Bud” Simmons. The company aims to help underprivileged children.
- He founded the Ivey League, a subscription service where clients can learn how to play poker, hone their skills, and improve their game. The League offers multiple plans, with different benefits such as access to live courses and coaches, strategy guides, advice, and more.
- In 2012, he founded the Ivey Poker app, a free-to-play poker service that allowed users to play against Ivey himself and against other industry pros.
Gambling Stats
- Biggest Win: Phil Ivey’s most successful participation came in the 2014 Aussie Millions LK Boutique $250,000 Challenge event, where he won $4 million AUD.
- Biggest Loss: His biggest ever loss didn’t really come from gambling, but from the Borgata Casino lawsuit. When he was found guilty of edge sorting, he lost £7.8 million in the court case, and needed to repay the casino $10.1 million, which made for a combined loss of over $20 million.
A Man Born to Play Poker
If there’s one thing that we can say it’s true about Phil Ivey, it’s that he lives and breathes poker. His unpralalleled success in the game, reflected in his 10 WSOP bracelets and countless other tournament wins, makes him one of the most accomplished poker strategists of all time.
Although a few controversies have lightly stained his success, Ivey’s skills, earnings, and overall success make him a living legend of the world’s most popular gambling card game.
