Bracelet-Bets at the WSOP

Minutes after winning his fourth WSOP bracelet, Daniel Negreanu shouted “Negreanu, one – Ivey zero.”  Daniel won almost $205,000 for winning this event, but also won an additional $200,000 due to a bracelet-bet with Phil Ivey.

Bracelet bets seem to be the new trend within some of the biggest names in poker. With a large range in bets, different stipulations, odds and winnings, some bets are so big they outshine the event’s first-place prize.

Negreanu and Ivey have a standing bet. Anytime they are both playing in the same tournament there is an additional $200,000 on the line. Negreanu explained that they do have a rule if one player shows up and the other is short stacked the bet is off. In this particular tournament Daniel had showed up late and Phil had already lost half his stack, so the bet was off. However, after regaining some chips, Phil Ivey reinstated the bet.

The most popular bracelet-bet is simply betting the odds for a certain player to win a WSOP event. Negreanu said that he offered 5-1 odds. He considers this a steal, since he only has to win one event every six years to break even. Ivey, however, was rumored to have offered odds of 1.8-1.
 
“I have a lot of big bets on winning a bracelet, so I really don’t have a choice. I have to play every event now,” said Ivey. “Hopefully, I can win a bracelet in the next couple of weeks, that way I don’t have to play every event."