Matusow Called Out For Presenting Incorrect 2021 WSOP Profit Stats

Summary

• Matusow claims he made $26K in profit at the 2021 WSOP
• Actual figures show The Mouth only earned over $12K in profit
• The markup issue has been brought up once again as Matusow recorded a loss in the bigger buy-in events

Mike “The Mouth” Matusow has stirred up controversy once again after declaring that his 2021 World Series of Poker (WSOP) run had earned him $26K in profits.

The American poker pro provided some stats on social media regarding his overall performance at the festival, saying he cashed in 11 out of 23 tournaments that he played and reached 3 final tables.

Just woke up & feels weird to not be going to Rio to play more!
Final stats 23 tourneys 11cashes 3 final tables $26 k profit! Oh what could of been if I can change 3 river cards! Bubble 25 k horse to start series by 1 out, the 3 outer in the 10 k plo 17 left hurt the most!

— Mike Matusow (@themouthmatusow) November 25, 2021

Matusow’s Actual Profits Just Over $12K

Matusow is one of the world’s most successful poker players and is no stranger to making it big in the WSOP, with four bracelets under his name. However, his recent profit claim has been put into question by eagle-eyed fans who believe Matusow provided the wrong figures.

One commenter noted that if Matusow’s claim was indeed true, then he enjoyed a phenomenal 48% cash rate at the 2021 WSOP, which is great for those who had bought some pieces of his action. But after double-checking Matusow’s stats, poker player Rob ‘Atarirob’ Smith found out that Matusow recorded a profit of just around 8%, which is a huge difference compared to his initial profit claim.

Smith produced a spreadsheet of Matusow’s overall run at the series, which shows that he spent $162,000 in buy-ins across a total of 24 events. He was able to collect $174,736 in winnings which translates to $12,736 in profit, equivalent to an ROI of around 8%. The actual figure could be much lower if Matusow had indulged in rebuys.

Image from twoplustwo showing ‘Atarirob’ spreadsheet

Markup Issue

Matusow already attracted controversy earlier when he charged a 1.5 mark up on a number of bigger buy-in events at the 2021 WSOP, with some saying the high markup is unacceptable.

Matusow’s performance in the $10K+ events during the 2021 WSOP wasn’t among the best. He took part in 12 events within that buy-in range, spending $135K in buy-ins. He only won $121,084 in cashes, meaning he incurred a small loss of $13,912, equivalent to just over 10%.

One commenter pointed out that even if Matusow’s markup is considered unethical, many fans would still buy his action anyway not because they’re expecting to make some huge profits, but mainly because they want to experience the thrill and excitement of being part of the legendary poker pro’s WSOP journey.