Phil Mickelson has been open about his gambling addiction in the past. According to an author of one of Mickelson’s biographies, ‘Lefty’ once lost around $40 million over a period of five years, which set him back quite a bit. The impropriety began from a young age on Tour, during which he reportedly placed a bet with Tiger Woods in 1998 over a practice round. Mickelson won that contest, but did something unthinkable to Woods later.

How did the bet between Phil Mickelson and Tiger Woods go?

Back in 1998, the two golfers decided to make their practice rounds interesting with a wager. The incident occurred before the Nissan Open, where the pair had contrasting fortunes.

Phil Mickelson Once Confessed About the PGA Tour’s Bias Towards His Arch Rival Tiger Woods

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Then-fresh prodigies on the Tour, Mickelson eventually won in their wager round, pocketing an assuredly sizable amount. But the victor wasn’t satisfied yet – he left Woods with photocopied bills of $100 notes in the latter’s locker!

It also contained a note, which read, “Just wanted you to know Benji and his friends are very happy in their new home.”

However, Woods had a wonderful weekend, finishing runners-up at the tournament. Mickelson shot 4-over par to record a disappointing 52nd-place finish.

How much money has Mickelson lost due to gambling?

The 6-time Major Championship winner has lost a fair share due to his gambling addiction. As a young player on Tour, Mickelson threw away a lot of money as a wager on the course. As per a former Tour golfer, he didn’t play for less than $2,500 in practice rounds, and this was before he had won any Major Championships on the PGA Tour.

Alan Shipnuck, author of Mickelson’s biography, “Phil: The Rip-Roaring (and Unauthorized!) Biography of Golf’s Most Colorful Superstar,” revealed the golfer faced financial difficulties because of reckless gambling. He explained how living a luxurious life and paying regular taxes meant Mickelson was left with around $10 million, which, as per the government audit, is what he paid on average in annual gambling losses.

Gratefully, Mickelson has come out from that phase in his life, admitting the wrongdoings and avoiding any huge bets at all costs. A maturity gained with age and a loving family has helped the LIV golfer to steer clear of splashing the cash. However, it’s a no-brainer that Mickelson would have loved that successful wager with Woods in 1998.