Ivan Demidov Claims Backer is Paying $5.8 Million from 2008 WSOP

Poker players the world over were a bit stunned a week or so ago when information came to light that the runner-up in the 2008 WSOP Main Event, Ivan Demidov, was apparently stiffed by his backer and never received his take of $5.8 million in winnings.

Online poker forums lit up with posters having their say, many incredulous that Demidov may have gotten screwed. The story gained traction on several poker news sites, here at PokerTube as well, based on a quote from Demidov himself that appeared in a poker publication on May 22.

"That second place has changed my life completely, but not because of the money I won, as I haven’t received any," Demidov stated. "That’s a long and dark story, but basically my backer did not pay me and I ended up not getting any prize money.”

As speculation grew as to who the backer might be, an astute 2 + 2 poster known as 'FreeDomRule' let the cat out of the bag and identified Sergey Rybachenko as the money man. 'FreeDomRule' then pointed other posters to a CalvinAyre article published last July where Rybachenko confirmed that he was indeed the backer of fellow Russian, Demidov.

“I used to play for huge stakes," Rybachenko stated while answering a question about the size of the games he plays in. "A few years ago when I sponsored all of the Russians when Ivan Demidov got second place in the Main Event I was his sponsor but then I went almost broke. I am on my way back now…but these are not like the games I used to play in before."

In stating that he almost went broke, it leads one to believe that Rybachenko may have lost that second place prize money of almost $6 million before paying off Demidov. Incidentally, Rybachenko has lifetime earnings of over $1.3 million, according to the Hendon Mob, including five cashes at the 2014 WSOP. His biggest payday (other than backing Demidov) was the 2010 WSOP Main Event when he finished 45th for $206,395.

A number of posters were still bewildered that Demidov would turn over the entire $5.8 million in winnings to his backer. But he apparently did exactly that, as per the accompanying photo showing Rybachenko with bricks of cash, perhaps preparing to load up some suitcases and head on home to Russia. (Or over to some high stakes games!)

Another 2 + 2 poster going by the moniker of 'Black winter day' didn't like the insults being thrown Rybachenko's way when his identity as the backer - who perhaps didn't pay up - was revealed. He stood up for Rybachenko by posting the following: "I have dealt financially with Sergey few times and while he is, by his own admission, a sick gambler, he is one of the most pleasant and honest people in the poker world, so there is no need to label him as a criminal."

In any event, Demidov eventually learned of the rampant speculation with regard to being screwed out of his share of the winnings and made an appearance on 2 + 2 to put the story to rest.

"Hello everyone. Ivan Demidov here," he posted as 'hasuuser' on June 3. "Didn't know about this thread until now. The 'i didn't get my WSOP money' is true, however it was taken out of context. Sergey still owes me money, but we have setlled it down long time ago. He is slowly repaying me and we are still friends."

So there you have it. No Russian mobsters as backers. No bad blood between staker and stakee. Still friends. And isn't friendship more important than $5.8 million?