Hellmuth Accused of Ripping Off Stakers

Written by:
Guest
Published on:
May/30/2018

It's been a bad last couple of days for poker pro Phil Hellmuth.  First he got lambasted after sticking up for a fellow poker player accused in a 2011 ponzi scheme tied to Full Tilt Poker.  Now the self-proclaimed "Poker Brat" is being called out for allegedly scamming stakers.

Poker pro Scott Seiver tweeted:

When @phil_hellmuth charges 1.8 markup for a 10k TURBO KNOCKOUT, there should be an SEC investigation because he is literally defrauding people out of their money. You should be embarrassed to hustle people out of their $20 investments. Absolutely pathetic

From PokerTube.com:

After offering up the “opportunity” to stake him in a couple of high-stakes events on YouStake.com, he has been subject to a great deal of well argued criticism of his extortionate markups and whether such exploitation is morally acceptable.

The WPT L.A. Poker Classic is currently selling at a high – but not completely unreasonable – 1.50 and his cash game winnings on Poker After Dark at 1.20. But the source of the controversiality was the colossal vig of 80% on the $10k Super Turbo Bounty at the WSOP. 1.80 is a rate that some people decided was taking the piss and bordered on outright fraudulence.

Hellmuth tweeted in defense:

I do believe it is a good investment. And, I like having a bunch of @YouStake investors along for the ride, it gives me extra motivation!!

I’m sure I have cashed for $2 for every $1 in @WSOP NLH tourneys! Obs not robbing anyone...Blocking and Muting you

- Ace King, Gambling911.com

Poker News

Reichard Eclipses $1 Million on HPT

East Chicago, IN - Josh Reichard is an accomplished professional poker player with 10 WSOP Circuit rings to his name. On Tuesday, Reichard added to his impressive resume and surpassed a career milestone.

Poker is officially a sport in Ukraine starting 2018

Poker is officially a sport in Ukraine starting 2018

It is official, Ukraine’s lawmakers decided that poker is a sport!

For the most part, poker players and successful gamblers in general tend to hog the glory. While some players rise to titanic levels of popularity, others tend to fade into the background, of no fault of their own. Simply put, there is only so much attention the public can give to professional gamblers. As a result, we have gathered here today not to give even more attention to the likes of Daniel Negreanu, but to talk about the unsung heroes of the industry that deserve more attention than they are current

Gambling Heroes Who Should Be Featured Over and Over Again

For the most part, poker players and successful gamblers in general tend to hog the glory. While some players rise to titanic levels of popularity, others tend to fade into the background, of no fault of their own.

Twitter Users Think Poker Players Are Unethical

Twitter Users Think Poker Players Are Unethical

British poker player and Twitter user Patrick Leonard recently conducted an unscientific survey that found a majority of Twitter followers feel poker players lack ethics. 

ACR Introduces Sunday Venom: $1 Million Guaranteed On-Demand Freerolls and Qualifiers Poker

ACR Introduces Sunday Venom: $1 Million Guaranteed On-Demand Freerolls and Qualifiers Poker

VENOM (formerly known as Million Dollar Encore) is here each Sunday moving forward at 1pm ET, with $1,000,000 guaranteed for a $2,650 buy-in. Below we will show you ways to qualify without having to lay that $2,650. 

Syndicate