Andrew Feldman loses £156,000 gambling with Rabbi

Full Tilt Poker pro Andrew Feldman is no doubt one of the most successful online poker players in the game.  Even still, he has been prone to severe cases of tilt during his internet poker career.  As an 18 year-old, Feldman came home angry one night after losing lots of money in casino poker only to lose his entire £70,000 bankroll while playing at an online poker room.

Luckily Feldman managed to get past the night when he lost £70,000 and amassed an £800,000 bankroll by playing lots of holdem poker and earning rakeback money.  However, history would repeat itself once again on an even larger scale during the first week of October 2008 when Feldman lost almost £800,000 while playing online. 

Desperate for a solution to his problems, Feldman listened to the advice of Rabbi Simon Nissim who said that spread betting on the Dow Jones stock market would be a good way to earn the money back.  Now generally, gambling isn’t a good idea unless you’re playing poker online and cashing in on rakeback deals.  Even still, Feldman decided to take the advice of Rabbi Nissim and invest in his Dow Jones spread bets. 

Sadly, the Rabbi blew through £136,000 of Feldman’s cash after placing just 77 spread bets in four hours.  On the grounds that he didn’t authorize Rabbi Nissim to make such large wagers, Andrew Feldman decided to take a break from playing poker hands to focus on legal action against Simon Nissim.

After a lengthy trial which has cost Feldman over £20,000 and garnered significant attention in the poker news, Judge Richard Snowden ruled that Nissim does not have to pay the money back to Feldman; he cited that Nissim had lost his own money in the deal and Feldman knew how much money was on the line when he agreed to spread bet idea.  The lost £136,000 plus £20,000 in court costs brings Feldman’s total losses to £156,000.

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