Around a week ago, Chino Rheem made headlines for becoming the first player to win a Main Event in the new Epic Poker League, and winning a $1 million 1st-place prize in the process. The excitement of the win quickly fizzled when pro players such as Joseph Cheong, Tom Dwan, Ben Lamb and Will Molson took to the TwoPlusTwo online poker forums to publicly announce Rheem’s outstanding debts, of which there are apparently several.
A few says later, it was revealed that Rheem’s take was probably much lower than $1 million due to his backing situation. As much as 70% went to his backer, while another 10% went to the backer’s charity. If there’s any truth to the rumors that Rheem traded 10% of the win with another player prior to the Main Event, it would leave him with just $100k.
A number of players apparently met Rheem at the cage looking for their money, but few were paid in full. After several complaints were filed with the EPL’s Standards and Conduct Committee, the EPL held a hearing on August 15 and released on official statement four days later.
According to the statement, the EPL’s standards allow for players to be eligible regardless of any conduct prior to the formation of the League. However, since Rheem’s past conduct is apparently affecting his ability to meet the EPL’s standards currently, he’ll be placed “on probation in order to effectively monitor the personal conduct of Mr. Rheem as he works to meet his personal financial obligations as required under the Players’ Code of Conduct.”
So what does this really mean? According to the statement, Rheem already used 100% of his EPL Main Event winnings to pay back EPL players. He’ll need to continue doing so, even with money received from non-EPL events, until all debts are paid. If he fails to fulfill his obligation (or if he breaks the law in any way), he’ll be suspended from the League.
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