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

Matusow Wish for the New Year: 'Have @Potus Quit Tweeting Like A 3 yr Old'

Matusow Wish for the New Year: 'Have @Potus Quit Tweeting Like A 3 yr Old'

Poker pro Mike "The Mouth" Matusow makes no secret of the fact that he is a big supporter of U.S. President Donald Trump.  But at the conclusion of Rosh Hashanah, he wished the following via Twitter

PokerStars Lawsuit Goes Before Judge

2016 World Series of Poker Main Event runner up Gordon Vayo’s lawsuit against the world’s largest poker site is set to go before a judge.  He filed the suit earlier this year.

It Does Not Appear That 888Poker is Behind DoS Attacks

It Does Not Appear That 888Poker is Behind DoS Attacks

PartyPoker, Americas Cardroom, even the world's largest online poker room, PokerStars, have not been immune to Denial of Service (DoS) attacks in recent weeks.  So it shouldn't come as any surprise that another bigwig in the world of Web poker, 888Poker, has also fallen victim.

Tencent Poker Platform Shut Down Amidst Crackdown

Chinese tech giant Tencent Holdings announced it is shutting down the firm's popular Texas Hold’Em poker video game in an effot to comply with intensifying government scrutiny hitting the country’s gaming industry.

Six Plus Hold'em No Limit Debuts Online This Monday

Six Plus Hold'em No Limit Debuts Online This Monday

Americas Cardroom has announced the addition of Six Plus Hold'em No Limit, which debuts this Monday September 10, 2018.

Syndicate