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Mike Matusow – No Money to Pay Ted Forrest Prop Bet

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August 10, 2010 by · 4 Comments 

Ted Forrest Wins Weight Loss Bet With Mike Matusow The darker side of prop bets among professional poker players has surfaced lately, as well-known pro Mike Matusow admitted that he doesn’t have the money to pay a $2 million bet he made with fellow pro Ted Forrest. Matusow’s outrageous side bet hinged on Forrest losing a large amount of weight over a couple of months, something which he accomplished by the end of this year’s World Series of Poker. Two months ago, Forrest weighed a reasonable 188 pounds. Matusow gave him 20-to-1 odds that he couldn’t drop below 140 by July 15th, and 10-to-1 odds that he couldn’t do it by September 24th. Forrest put up $100,000 to cover his side of the wager, and the race began. On July 15th, Forrest stepped on the scales and registered an amazing 138, dropping 50 pounds in just over two months. A sheepish Matusow admitted to making the bet because, in his mind, it was virtually impossible for Forrest to do it. “I don’t have the $2 million to pay out. I made that bet because I didn’t think it was feasibly possible. I could pay him a big lump, but I’m going to wait six months to see if he dies first. I think he’s 50-50 to die. He starved himself for 11 days and ran 16 miles a day. He’s lost all of the muscle around his heart. He could have a heart attack. All that for $5,000 a month.” While Matusow was joking about the situation, Forrest was in no mood to laugh after his opponent suggested $5,000 a month payments, a sum that would take 33 years to be paid. “He beat me [last year], and I paid him off. I think he should try to pay me as much as he can in the next two months and then work out a satisfactory, reasonable, agreeable payment arrangement.” While prop bets are a way of life in the poker world, there is an unwritten code about honoring them. While Matusow complains about not having the funds to meet the payoff, the poker community will be watching to see if he works out an acceptable solution with Forrest or welches on the hefty sum.

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4 Responses to “Mike Matusow – No Money to Pay Ted Forrest Prop Bet”
  1. Montana Mike says:

    These “thieves” never play their own money in tournaments, and are at best “pieced out” (much like TJ, sometimes 200%) and when these “horses” win, they only get a small percentage. Anybody that deals with them, knows how difficutl it is to “collect” money from these degenerates.

    I have been playing “cash poker games” in Las Vegas for almost 40 years – while the names and thieves change, the game is the same – and “partners”, chip dumping, “team players”, is standard. (tournaments and cash games) All is not as it seems – Someone once said “there is a sucker born every minute”! Many try, almost none succeed.

  2. Tom says:

    He should be banned from playing in tournaments and not allowed to play in vegas 2 million is alot and should be shot like in the old days.

  3. allan says:

    B.S.! Mike Matasow has money, not 2 million worth but he does have mid- 6 figures. The mike the idiot won almost 1/2 million on last years High Stakes Poker on gsn. Mike needs to pay Ted at least 50% of his bankroll and then work out payments. Like Ted gets to keep all of mikes monthly endorsement deals. I’ve heard he makes close to 10K a month at Full Tilt alone. Don’t be a douche bag matasow pay the man!!

  4. Ace of spades says:

    Is anyone surprised? Matasow is a complete scum-bag piece of shit. Anyone who thought he would pay is delusional – he’s broke all the time. He has no money. In a way Forest is stupid for making the bet with someone who has no money.

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