Michael Phelps is the most decorated sportsman in Olympic history with 22 medals to his name spanning three Olympic games. At the age of 27, ‘The Baltimore Bullet’ has now retired from competitive swimming having amassed a $45 million fortune from his sport, which could potentially triple through endorsement deals over the next few years.
It’s Michael Phelps’s supreme competitive spirit and desire to win which helped him reach the very heights of his chosen sport, but the very same attitude could also be a costly one if taken to extremes at the poker tables. As an anonymous source told the National Inquirer recently:
“Michael has a “don’t quit until you win” attitude which was great while he was swimming but could be costly playing poker.”
However, it is for this reason many poker pros employ strict bankroll management and stop-loss strategies to avoid losing a large portions of their bankroll over a single losing session. Using these guidelines then helps ensure responsible gambling, a concept undoubtedly not lost on Phelps, despite sensationalist reporting by certain media outlets.
Apparently, Phelps first started playing poker online at the $1/$2 level and a few years on now lives with professional poker player, Jeff “kidwhowon” Gross, and plays a regular weekly $25,000 buy-in card game. Back in 2008, Phelps talking about his love for the game to Card Player explained:
“I love to play, it’s fun, it’s exciting. It was more something so that I could have time to myself. I could relax, I could be myself, and I could have fun. It’s a place where I can be me. I’ve met some of my best friends at a poker table. Some of the kids I’m always with, who I talk to every day.”
Over the years, Phelps has had some good poker mentors to show him the ropes, including Doyle Brunson, and has cashed in at a number of tournaments. If rumours of him becoming a poker pro following his recent retirement from swimming are to be believed, then Michael Phelps could soon get just the extra training he needs to rise above his poker competition, too. At the very least he’ll be making a shed load of money from an endorsement deal.