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Is Jamie Gold Broke?

There are not many players who have experienced stardom and negativity at the highest level other than Jamie Gold. The 2006 main event winner has yet again made headlines when he said he will be auctioning his WSOP gold bracelet.

Is Jamie Gold Broke?

Has Jamie Gold gone broke?

Due to his weird game ethics and constant breaking of rules and regulations, Gold was never someone whom you would love but he certainly deserved sheer respect. Gold had gone off the grid for some time and made sparse appearances despite his 2006 heroics.

It was not until 2015 that he decided to step up and compete again. His form did not find its old rhythm and sources say that this might be the end of Jamie Gold’s poker career and he has gone bankrupt since then.

A Child Prodigy

It will be unfair and unjustified to call him a prodigy, a Hollywood talent agent turned producer, Gold had a knack for poker and this led him to be a poker player. Unlike Jennifer Herman or Alan Cunningham, who are considered to be prodigious and hail from a family laden with poker players, Gold was a self-made millionaire in poker.

Jamie Gold and his controversies

A late bloomer, he rose to fame in 2006 and immediately surrounded himself with controversies. It is his unusual game ethics which have led to his demise as a promising poker player. Just months before he was catapulted into fame, Gold along with Crispin Leyser had made a deal where they will play under a Bodog banner and in exchange will be granted a paid entry to the main event.

After the $12 million win, Leyser accused Gold of turning his back to him and sabotaged the deal. Leyser sued Gold, which resulted in a restraining order issued by the U.S. district court against Gold. As a result, Gold was deterred from collecting his $6 million earning from Rio casinos until the first hearing.

Gold’s lawyers made a move to lift the restraining order but it went in vain and the money was transferred to an interest-bearing account whose likelihood would have prevailed to Leyser. However, an official announcement was made by Leyser and Gold that they had settled the matter outside the court. Bodog broke their partnership with Gold and it can be said that the greedy nature of Gold has been an important factor which led to his downfall.

He also had an unusual game technique, where he was often seen to confess what he possessed during the hand. This was quirky and new but it violated certain rules and he was cautioned time and again for this kind of game-plan.

Jamie Gold’s Top 5 tournament cashes

Despite all this, he enjoyed a prolific winning streak and at one point of time his net worth was estimated to be somewhere between $6-$10 million. He is the first player ever to win $12 million in the history of WSOP main event. After that, he was seen playing in some local casinos and competitions but could not replicate his 2006 form. Here is a look at his top 5 tournament cashes:

1. 2006 WSOP main event: This is where he earned a record-breaking $12 million fir 1st place.
2. Finished 35th in a WSOPE No-limit Hold’em and earned $50,898.
3. $25,000 in National Heads-up No-limit Hold’em where he finished 16th.
4. $21,853 in 2009 where he finished 6th in the No-limit Hold’em Irish House event.
5. Despite a meager sum, 2013 No-limit Hold’em saw him clinch his second career best 4th position. He won $2,720 in the competition.

Gold had said that he was ready to compete and play regularly, but failed in doing so and has made little or no appearances after 2013.

So is Jamie Gold actually broke?

No official statement has been released by Gold but he has said that he is facing some perilous tax issues and speculations rose further when it was said that he would be auctioning his 2006 WSOP gold bracelet. It is not a surprise though as Gold had lost a numerous number of tournaments.

He lost to a number of amateurs and after clearing all his tax issues and lawyer fees, it can be inferred that Gold is on the verge of going bankrupt. Fortunately, poker does not depend on the age and by plenty on his side, a comeback is on the cards, but the odds get slimmer day by day.

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