Poker News

The amazing adventures of T.J. Cloutier‘s World Series of Poker (WSOP) bracelet added a new chapter this week. As reported by Poker News Daily on Sunday, Cloutier pawned off his 2005 $5,000 No Limit Hold ’em WSOP bracelet and, in turn, the Plano Pawn Shop sold it on eBay for $4,006. Now, online site Cake Poker is suggesting that it purchased the item and has unspecified plans for it in the future.

Jake St. Pierre, a blogger for Cake Poker, posted the following on the site on Monday: “Who knew there were so many wonderful things on eBay? The team members here at Cake Poker only recently caught on to all the marvelous items on sale, including: electronics, bracelets, CDs, bracelets, cars, pet supplies, bracelets, and all kinds of exciting memorabilia.”

Wicked Chops Poker first broke the Cake Poker story on Tuesday, stating they had a reliable source inside Cake Poker that confirmed the sale. Rob Pizzo, a host of the Hardcore Poker Show on Sirius Satellite Radio, then commented about Cloutier on the Wicket Chops Poker website. “We called T.J.,” wrote Pizzo. “He didn’t want to come on the air…but told our producer the following: ‘I don’t want to talk about it…yeah it’s mine…I was short…I pawned it….I tried to get it back with my ticket but I was too late.'”

Pawn shops are considered valid options for short-term loans when someone is “short” on cash, as Cloutier claims he was at the time. Once you pawn your item, you’re given a ticket stating the terms of the loan, your name and address, description of the item, amount lent, maturity date, interest rate, and the amount you must pay to redeem your pawned item.

It appears that Cloutier failed to pay back the loan by the specified maturity date, which could have been on or before January 14th, the day his WSOP bracelet was placed on eBay by the Plano Pawn Shop. The item then became the property of the pawn shop, which can, in turn, sell it.

Cake Poker isn’t revealing its plans for Cloutier’s bracelet, but the site is building some suspense around the item: “You’ll just have to wait and find out,” wrote St. Pierre.

Cloutier, 71, is one of the legendary rounders of poker and and among the most successful tournament players in the history of the game, collecting six WSOP bracelets, a total of 39 titles around the world, and career earnings of $9,413,236. However, some suggest that he has lost more money playing craps than he ever made from playing poker.

Are Cloutier’s losses in the pit the reason behind his eagerness to pawn his WSOP bracelet? That’s merely speculation at this point. Poker News Daily will continue to bring you updates on the ongoing story.

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