Accused: Is Phil Hellmuth Ripping Off Stakers?

Phil “#Positivity” Hellmuth is no stranger to controversy. His flappy mouth has slagged off just about everyone in the game at some point and he’s had more than a few fights picked for him in his time. However, most of the time when he’s in trouble it is over his lack of impulse control and his bad temper taking him over the line of good taste.

This time he finds himself getting people’s hackles up for rather more sinister reasons.

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.

Matt Berkey, gave the most cogent argument for the prosecution.

Other’s were less reasonable in their accusations of exploitation and false advertising. It is clear that Phil believes he’s worth it.

The accusations of Hellmuth’s exploitation of the poker community come at a bad time when his misguided defence of Chris Ferguson has got people’s dander up and reminded us all of UltimateBet.

Phil is used to being the subject of vigorous opposition to his point of view and/or personality, so you know a nerve has been touched when he starts getting ban happy. So far at least two people have been publicly called out and blocked by the Poker Brat. 

This controversy will probably end up helping him sell out and teach him nothing about duty of care.