Phil Ivey in Million Dollar Ventures

Phil Ivey is rumoured to have made a $5 million WSOP bracelet bet with Howard Lederer, and has been reported to be involved in the opening of a new high stakes poker room in the Aria Casino, Las Vegas.

Picture source:philiveyfan.com

Besides news of Ivey putting his Las Vegas Mansion up for sale for $2 million, there were also two other interesting reports that were circulating about Ivey in the past week.

$5 million WSOP bracelet bet

Firstly, PokerListings reported that during the recently concluded WPT Championship, Daniel Negreanu told one of their reporters about Phil Ivey having made a $5 million prop bet with Howard Lederer.

The bet is an even money bet, where the loser pays the winner $5 million. In order to win, Ivey would have to win a total of 2 bracelets in the next two WSOPs. Previously, Ivey had won 2 bracelets in 2009 and 3 bracelets in 2002.

"The Ivey Room" in Aria Casino

According to a posting in the 2+2 forums, Ivey has also been engaged by the Aria Casino, Las Vegas to attract the high stakes players in Vegas. This venture will involve the opening of "The Ivey Room" sometime in May.

The 2+2 poster also mentioned an $1 million invitational tournament that will take place on May 22. According to the poster, the event features a $250k first prize and a $100k bounty for eliminating Ivey. On top of that, the winner gets to play heads-up against Ivey for a further $250k.

Ivey League Invitation Picture source:2+2 forums