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Thursday
May292014

John Daly Estimates Gambling Losses Of $55 Million

The two-time major winner John Daly admits in a Yahoo interview with Graham Besinger that after an examination of his tax records, he lost $55-57 million gambling. And that's before the PGA Tour fines. Thanks to Chicago John for the tip.

But he's still hasn't lost his sense for tasteful attire!

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Reader Comments (37)

I'm sorry, but John Daly is just a joke that isn't funny anymore. And that jacket is a disgrace.
05.29.2014 | Unregistered CommenterGary K. McCormick
What a waste of money. A real loser every which way one can think of.
05.29.2014 | Unregistered Commenterv60golfer
"A real loser every which way one can think of."

Well there are those 2 major championships....
05.29.2014 | Unregistered CommenterDTF
You can take the boy out of the trailer park, but....
05.29.2014 | Unregistered CommenterPA PLAYA
Less than his tobacco bill....
05.29.2014 | Unregistered Commenterdigsouth
To have that kind of money to lose, he would have had to have made at least $100 million. JD has $12.0 million in career earnings. Did he really make that much off the course?
05.29.2014 | Unregistered CommenterChema
"To have that kind of money to lose, he would have had to have made at least $100 million. JD has $12.0 million in career earnings. Did he really make that much off the course?"

You bet he the did!

Assuming his back holds up I figure Ol' Jet Ski will gross $200,000,000 mas o menos before all is said and done....that's pretty unreal.
05.29.2014 | Unregistered CommenterDTF
Are we sure he's referring to a net loss?

If I go to Vegas this weekend with $100 and lose $50, then go back the next weekend and win $150 then lose $100 I've come out even. But I could say, "I've lost $150 gambling in Vegas."
05.29.2014 | Unregistered Commenter3foot1
@3foot1

If he's getting it from his tax return he is filing it against his winnings so you are on to something here. Per TurboTax: https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/Can-You-Claim-Gambling-Losses-on-Your-Taxes-/INF14370.html

My guess is he very well lost $55-57 million, but could only claim X amount as losses compared to what he won gambling in a particular year. You still have to have a lot of money to play with to bet that much, but if he was pulling 48 hour sessions playing $20k/pull slot machines he could easily lose $10 mil in a session.
05.29.2014 | Unregistered CommenterChicago John
Fools and their money are soon parted.
05.29.2014 | Unregistered CommenterKS
Live fast and go out with a bang might in fact be the way to go...that man was long and strong with a baby soft touch. You can't buy or learn that really IMO...some folks just have it in spades...like JD and his fifths of JD!
05.29.2014 | Unregistered Commenterjohnnnycz
grip it and rip it
05.29.2014 | Unregistered Commentergrr
$55 mm sounds a little high, or maybe i just dont give JD enough "credit"
05.29.2014 | Unregistered CommenterEd
Played with him in a pro-am in Tunica. He barely made the tee-time. Stumbled up to our first tee totally hung-over.
05.29.2014 | Unregistered Commenterredneck
Stop giving "Walk-off" John publicity.
05.29.2014 | Unregistered CommenterScott
Years ago I bought a European golf magazine that included a miniature copy of "Grip it and Rip It" attached. The magazine and the book made for a fascinating contrast. The magazine was essentially teaching the Faldo/Leadbetter swing--weaker grip, restricted hip turn, and a "magic move" type of downswing. The Daly book taught a strong grip and a huge hip turn on the backswing and forward swing. I read it in one sitting and instantly made the greatest improvement of my life. Daly may be a moron off (and on) the course, but I've always felt a debt of gratitude toward him. There's a freedom in his method swing gurus just can't--or won't--convey. I like him.
05.29.2014 | Unregistered Commenterhighside
He was incredibly fun to watch when he was on his game but his schtick is beyond played. It's offensive.
05.29.2014 | Unregistered CommenterRose
Could have been a great golfer. Turned out to be a waste of talent.
05.29.2014 | Unregistered CommenterEasingwold
What's that old saying 'A fool and his money are easily parted' - so no not surprised, just shocked at the amount.

And yes it is somewhat pathetic because I see nothing clever in constantly throwing good money after bad.
This is what I love about golf. Every once in awhile someone with extreme talent, but no brains, rises to the top. Wins a major or two. Maybe Ted Ray was such a fellow. Walter Hagen might have been the most successful of this class (in terms of Majors won). Young Tom Morris was a late night drinker at the St Andrews new golf club, carouser, who knows. The best golfers rise to the top because they play the best; there is no road map of how to prepare, live life, train, etc. to get there.

All one has to do is play the best.

But, there is nothing in becoming the best that prepares one for life after the fact.
05.29.2014 | Unregistered CommenterGreg V
I seriously doubt that he could have become a truly great golfer.
05.29.2014 | Unregistered Commenterfyg
He has more majors than future hall of famer davis love.
As we speak of wasting his talent
05.29.2014 | Unregistered CommenterJohn dough
He earned it. His right to lose it. Only wish it could have gone to charity instead. Then we would be calling him a great humanitarian.
05.29.2014 | Unregistered CommenterJZ
"2-time major champion" and "truly great golfer" are mutually inclusive....
05.29.2014 | Unregistered CommenterDTF
Actually, JZ, around here any charitable contributions are met with cynical cries about tax write-offs etc.
05.29.2014 | Unregistered CommenterCarl Peterson
Look at how many other athletes who have made way more money than JD are broke and no one remembers them... I love JD and always will
05.29.2014 | Unregistered CommenterSkers
Spent 6 hours with him at Kapalua Range back when it was the Lincoln Mercury Invitational. Just him and I. He received a new set of Wilson irons - fat shafts - and we went thru the whole set slapping lead tape on and off the bottom of the clubheads. He was down to earth and treated me with kindness and respect. Have not kept in contact with him since but a big fan.
05.29.2014 | Unregistered Commenterleedog
@Leedog, man that is awesome. He signed a Colorado Rockies hat at the GGCC when I was 11 (now 28) and I've loved him as a golfer ever since. I couldn't imagine spending 6 hours of one on one time with the guy.
05.29.2014 | Unregistered Commentercombvet23
I used to hate him before it was fashionable, but over time I have realized that he has real psychological issues. Tough to make fun of a guy with real problems. I wish him the best.
05.30.2014 | Unregistered CommenterNo Longer
Yes,…he has/had extraordinary talent and it showed when he was playing early in his career. His drinking problems caught up with him as is often the case with so many people. The guy was a huge talent back in the early 90's….just very very talented. He could do thing no one else did. His length off the tee and out of the short grass is legendary stuff. I was at the 91' PGA where he came out of his car on Wed night and won the darn thing….mullet and all. Feel for the guy…he has problems.

Keep in mind, that today he gets most of his wealth from his line of clothes….those bright, at times obnoxious styles….Loudmouth. THey are gaining popularity and he continues to be the primary beneficiary.

Smart business move…and it is paying off very well…very well.
05.30.2014 | Unregistered Commentermj
I saw him hit it 315moff the tee at the pines on the gold coast must be 25 years ago, a par 4 straight over 40foot pine trees over a lake to just short of green. Luck or talent? I know what I think,
05.30.2014 | Unregistered CommenterKeith86
Gary McCormick. Wow, you've revealed what a humorless, intolerant ass you really are. Your jovial personality on air apparently is your alter-ego. JDs uniqueness is less worthy than yours?
05.30.2014 | Unregistered CommenterSomme1916
@DTF,

Andy North doubtless agrees with your "two-time major champion, truly great golfer, mutually inclusive" simplistic reasoning.
05.30.2014 | Unregistered Commenterfyg
I like John.

He has flaws, but he has also been singled out by Tim for things that others get to slide on.

I hope he's happy.
05.30.2014 | Unregistered Commenterdigsouth
@Gary McCormick....the real disgrace is American boys coming home in flag draped caskets....for what ? Furthering the Neo-Lib/Con agenda ? I assume THAT'S OK with you !
fyg, do you beg to differ? " Just because"?

Do you believe Andy's track record is comparable with JD's? Simplistically speaking....
05.31.2014 | Unregistered CommenterDTF
Jeez, I can't believe all of that money is wasted on gambling! Just give me a fraction of it and I'd be happy.
07.23.2014 | Unregistered CommenterRich

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