Home / Poker News August 2012 / The Poker Grapevine – Mizrachi’s Prop Bet Goes Sour
The Poker Grapevine – Mizrachi’s Prop Bet Goes Sour
Posted by: James Carter. - Sat, 2012-08-04 04:19
There’s no secret about the fact that most of the ‘name’ pros who take part in the various
WSOP events, do so not drawn by the prize-pool but by much more generous potential winnings off side-bets they have going. Michael Mizrachi was among the pros who took part at this year’s edition with such side-bets going in the background. More precisely, The Grinder struck a 5-1 bet worth $20k with Giorgio Medici, the object of which was his inability to win a bracelet during the 2012 Series. While the odds may indeed have been stacked against him, the Grinder came through and won the $50k Poker Players Championship for the second consecutive year, taking down a sizeable prize and the gold bracelet to go with it. That theoretically made him the winner of the above detailed prop bet, but when time came for him to collect, he was in for a nasty surprise: Medici had apparently filed for bankruptcy and he listed his Mizrachi bet as an unsecured non-priority claim. What that basically meant was that Mizrachi wouldn’t collect his $100k. Needless to say, the underhanded move ticked off the Grinder, who went public about the deal through various social media channels. The reason he said he had decided to go public about the bet was to prevent others from falling into a similar predicament.
In other news: the Absolute Poker and Ultimate Bet cheating scandals have rocked the online poker world dealing it a massive blow that would later turn out to be the first of many more to come. Despite the publicity and the general uproar, as far as actual facts were concerned, not much useful information saw the light of day in the case.
Scott Bell, a player who was directly affected by the AP and UB cheating, embarked on a massive investigation, the results of which he compiled into a documentary called ‘Ultimate Beat’.
