When we interviewed Ivey, right before Tiger’s sex scandal, he was candid about the trappings of fame, but embraced the comparison of a virtually [unknown] rise to mythical proportions.
EBM: There’s a stereotype associated with gamblers in that they all have a very cynical disposition. But you seem just the opposite; you’re fairly upbeat and by all appearances you have a real zest for life. Are the stereotypes inaccurate or are you an exception to the rule?
Phil Ivey: I think there are many different types of gamblers; you have the introvert and the extrovert, the nasty and the nice, but for the most part like any stereotype they’re usually inaccurate.
Gambling is my job and I try to keep it in that compartment. At the same time it’s a wonderful job to have, and it has afforded me a wonderful lifestyle that I try not to take for granted.
EBM: How long have you considered yourself a professional gambler?
Phil Ivey: Since I’ve been able to make a living from it! You hear people say, “I’m a professional actor” or “I model professionally”. In the gambling world you’re not a professional until you’re invited to a high stakes table and that doesn’t happen until you’re recognized as a legitimate gambler.
EBM: Well, allow us to rephrase our question. When did you decide you’d make gambling your profession?
Phil Ivey: I started gambling at a very young age. My grandfather introduced me to the game, and I don’t want to say the age because it may upset my mother, but he and I would gamble daily and he would teach me different card games that I would later improve upon and it was the one thing I enjoyed doing all the time.
I would work remedial jobs just so I could save enough money to gamble, and eventually I was able to play full time and make it a career.
EBM: How much of gambling is luck versus skill?
Phil Ivey: In poker none of it is luck. It’s a game of complete skill, instincts; being able to read your opponents tendencies and understanding your hand is critical to any poker player. It’s more like psychological warfare. You have to be able assess your opponent and break them down.
Then there’s the mathematical element; there are so many different variations in each hand and you have to know how to play that hand effectively, because each hand sets up the finality.
And that’s the difference between a casual gambler and someone who has made it a career. Every single professional player understands that the game has little, if no luck involved.
However, on the other end you sometimes find yourself wishing for the perfect hand because the games can go on for so long, 20, 30, 40 hours in some instances and then it becomes a game of endurance. And that can weaken the best opponent. Therefore, I place a lot emphasis on conditioning and being physically fit.
EBM: When you’re down big do you ever get nervous and lose your edge? Do your nerves ever get the best of you?
Phil Ivey: Once we assembled a team of gamblers to play real estate mogul Andy Biel. I was fairly new to the professional circuit, and when you’re playing against a billionaire your nerves can get the best of you because you realize how difficult it is for him to bottom out. But you contain those emotions, and in fact that’s when you should show the least amount of emotions and bank on what got you there in the first place.
Gamblers usually have a high-risk, high-reward personality, and either you have it or you don’t but if you decide to pursue this as a career you have to be willing to bet it all.
When betting I have a complete disregard for money. I can be down two or three million dollars but I am always willing to bet my last hand and go the distance against my opponent(s).
Yet you also need to understand when things aren’t working for you. Your mind may not be in the game or things just aren’t working for you. During those rare instances, you have to be able to fold’em.
EBM: What is your favorite game to play?
Phil Ivey: Mostly poker, I also enjoy craps and black jack.
EBM: It’s been reported that in 2008 you made over 20 million dollars in gambling alone. Do you worry that this could all end if you continue gambling?
Phil Ivey: No, I don’t look at it the same as you would. Poker isn’t gambling to me, it’s more of a job that I deeply enjoy. And again, if you compartmentalize it and keep it in its place I should be able to work hard, hopefully continue to get better and retire.
And because I enjoy my job so much I’m able to make considerable strides and gains in this profession.
EBM: You’re considered the best poker player in the world, yet the World Series of Poker main event has eluded you year after year. How do they determine the best poker player?
Phil Ivey: I’m not sure if that ranking is based on public opinion or something else. Maybe it’s my approach toward the game that people connect with. But for the most part, those who would make that kind of statement don’t understand poker, because someone can be on top today and be out of poker tomorrow. I just consider myself fearless and a work in progress; everything else will handle itself.
EBM: You’ve become the face of Full Tilt poker.net, a gaming site. What separates them from the other less noted sites?
Phil Ivey: Chris Ferguson, the creator of Full Tilt poker.net developed superior software that has made the gambling experience very life-like. I was given an opportunity to invest in the beginning stages of the operation and fortunately it’s doing better than we anticipated this early on. What we’ve created at Full Tilt is a chance for those who are interested in challenging themselves by playing against real poker players a real life experience while being in the comfort of their own home. They’re able to interact directly with us and learn from some of the best players in the world.
EBM: What do you do in your spare time?
Phil Ivey: I’m an avid golfer. So when I’m not working I’m trying desperately to improve my game
EBM: Do you ever take any mulligans? (Laughter)
Phil Ivey: Rarely, only when necessary. (Laughter)
EBM: Thank you for your time.
Phil Ivey: Thank you...
