button in SafariPhil Hellmuth Defends Son's 1.4 Markup With $10m WSOP Main Event Side Bet
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Phil Hellmuth has fired back at online critics, including reigning WSOP Player of the Year Shaun Deeb, who questioned his son Phillip Hellmuth III's decision to sell WSOP Main Event action at a 1.4 markup.
In the ensuing discussions, the pair agreed to a wager worth up to $10 million, with the involvement of poker player Jason Mo.
What's the Bet?
The 17-time WSOP bracelet winner revealed on social media that he had advised his son to charge a 1.4 markup in poker's biggest tournament, writing: "If you think it's unfair, then put your money where your mouth is. I'll put up $14K on my son: you post $10M (1st place)."
Deeb was among those questioning the markup and quickly found somebody willing to take the other side. "I have someone willing to take it for your 14k," Deeb replied on X, identifying fellow poker pro Mo as the player prepared to bet against Hellmuth III's Main Event run.
After Hellmuth requested a guarantee that any winnings would be paid promptly following the tournament — including a $1 million personal guarantee from Deeb himself — the arrangement was confirmed, setting up a wager that could be worth as much as $10 million should the Main Event first-place prize again reach eight figures.
Hellmuth later announced the bet had been finalized, writing: "We have a bet! My $14,000 to whatever amount @PhillipHellmuth cashes @WSOP Main Event for."
Deeb's response? "This bet will be my second cash of the summer thanks Phil"
Phil Hellmuth risks: $14,000.
Shaun Deeb & Jason Mo risk: The exact dollar amount of Phillip Hellmuth III’s final Main Event cash (up to $10 million if he wins).
The Outcome: If Hellmuth III busts before the money, Deeb and Mo win Phil's $14,000. If Hellmuth III cashes, Deeb and Mo must pay him whatever that cash is worth.
Is Hellmuth III Selling at a 1.4 Markup Fair?
The honest answer is: we don't fully know yet.
Hellmuth III is a young professional with a famous last name, a Day 2 appearance in the 2025 Main Event, and a handful of live cashes, including a solid WSOP Circuit run in January, where he finished 10th of 541 players in a $600 Monster Stack event in Las Vegas.
He is not, at this stage, a player whose record says "pay me a significant premium"... more like "watch this space."
Whether that's enough to justify a 1.4 markup depends entirely on who you ask, with Hellmuth, arguably the greatest player in WSOP history, clearly so confident in his son's ability that he's willing to stake $14,000 of his own money.
However, 'The Poker Brat' was quick to remind X followers that he knows this territory better than most, writing, "The 'Markup Police' told me my markup was too high, then I made $200,000 total for those taking a piece of me on Stake Kings. They were wrong."
Whether he is right on this occasion will only be proven once this year's WSOP Main Event gets underway on July 2nd.
Reaction to the Bet
Many poker pros chimed in with their views on the markup the young Hellmuth is charging, and on the bet itself.
Aaron Barone said that "The Foxens’ kid is gonna be able to sell for 10.0" after husband and wife duo Kristen and Alex both bagged WSOP bracelets this summer.
Meanwhile, Randy Lew also postulated at the potential for genetic success at the World Series.
However, there were also multiple people wondering why the son of a poker legend would have to sell action at all. With Hellmuth Sr cashing for over $31 million lifetime, why not just back his son in this year's Main Event?
Previous High-Profile Markup Debates
This isn't the first time the poker community’s "Markup Police" have heavily scrutinized packages during the WSOP.
Back in 2018, Phil Hellmuth himself drew massive fire when he listed action for a $10,000 Super Turbo Bounty event at an astronomical 1.8 markup.
Similarly, in 2021, Mike Matusow faced intense pushback from the community after selling his WSOP packages at markups ranging from 1.3 to 1.5.
On the opposite end of the spectrum, some elite pros have actively used their platform to counter the trend. In 2022, Daniel Negreanu earned widespread praise by opting to sell his extensive WSOP package with absolutely zero markup, giving fans a chance to own a piece of his action at pure face value.
