Phil Mickelson Says His Gambling Problem Became ‘Reckless and Embarrassing’

Phil Mickelson acknowledged he had a gambling problem in the past but said it's not the reason he joined LIV Golf.

Mickelson opened up about his past when asked by Bob Harig of Sports Illustrated about potential financial difficulties:

"My gambling got to a point of being reckless and embarrassing. I had to address it. And I’ve been addressing it for a number of years. And for hundreds of hours of therapy. I feel good where I’m at there. My family and I are and have been financially secure for some time."

"“Gambling has been part of my life ever since I can remember. But about a decade ago is when I would say it became reckless. It’s embarrassing. I don’t like that people know. The fact is I’ve been dealing with it for some time. Amy has been very supportive of it and with me and the process. We’re at place after many years where I feel comfortable with where that is. It isn’t a threat to me or my financial security. It was just a number of poor decisions."

Alan Shipnuck, who wrote a Mickelson biography, wrote in an excerpt on FirePitCollective.com that the golfer suffered more than $40 million in gambling losses from 2010 to '14. The total was discovered during a government audit after an investigation into insider trading.

Money was also a reason for his split with longtime caddie Jim "Bones" Mackay, with Mickelson reportedly owing him hundreds of thousands of dollars in backpay.

It could help explain the 51-year-old's interest in LIV Golf, which has a reported purse of $255 million over eight events.

Mickelson, who made just under $95 million in PGA Tour events, announced Monday he will play in the organization's inaugural event this week:

According to Brentley Romine of Golf Channel, Mickelson signed a contract worth about $200 million in guaranteed money to join LIV Golf.

The six-time major champion said he is not currently going through any financial hardships despite his past mistakes, but the added money likely went a long way toward making his decision.