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From Bill Burton, About.com Guide  

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WSOP Winner’s Jackpot Withheld

Wednesday September 27, 2006
The top prize for the World Series of Poker main event was $12 million but so far winner Jamie Gold has only collected half of it. The other $6 million is being held up in a legal battle over promises Gold made to split the winnings with Bruce Leyser.

In a lawsuit Leyser alleges that Gold promised to split his winnings with him in exchange for Leyser helping him find celebrities to play in the main event wearing the logo promoting offshore gambling site Bodog.

Bodog had paid Gold's entry fee into the main event and he wanted to help promote the site by getting other players to wear the logo. Leyser said he fulfilled his part of the bargain. The lawsuit does not say that Gold refused to pay Leyser as it was filed before the prize money was distributed.

This lawsuit brings up an interesting point because it was only a verbal contract and there was nothing in writing. Some poker players voiced their opinion that a player's promise is his bond. They site the fact that many players will promise a piece of themselves or sell shares of their winning to backers who help pay their entry fee. Other players felt the lawsuit was a joke that would never hold up in court. Time will tell.

Apparently Gold made a few promises about his winnings before he actually won the tournament. I remember reading that he said he was going to give all the money to charity if he won the event. HoweverI have yet to hear a word about this from Gold after he won the event.

Whether this lawsuit holds up or not it is a good lesson why you should never say anything you don't mean and if someone does make you a promise; GET IT IN WRITING!

Comments

September 29, 2006 at 1:30 pm
(1) Toby says:

Hey,
Gold only said he’d use the money to help his dad out, who has ALS. It was David Einhorn who said he was donating all his money to charity, and he did.

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