According to an article in The Hollywood Reporter, the creative mind behind the television series NYPD Blue and Deadwood, 70-year-old David Milch, has spent millions betting on horses and has even lost his houses having racked up a $17 million debt with the IRS.
Over the course of the last years, Milch has spent his $100 million fortune in support of his gambling habit. The gambling has gotten so out of control that his wife has reportedly put him on a minimal weekly allowance.
The two homes he purchased with the fortune he earned during his career have been put on the market. His Los Angeles home located in the prestigious Brentwood neighborhood fetched a hefty $4.8 million while his more luxurious property in Martha’s Vineyard is listed at almost $9 million and has yet to be sold.
Rita Milch, David’s wife, was unaware of the extent of the debt he had accumulated. In 2015 she filed a lawsuit against their business management company Nigro Karlin Segal Feldsein & Bolno LLP (NFSFB) seeking $25 million in damages. She claims that the business managers should had told her about the state of her and David’s financial affairs. The tip off for her was when a member of NKSFB staff recommended that David transfer ownership of their homes into the names her and her three children. It was then that Rita became suspicious. He had cashed numerous checks at race tracks over the years and evidence of the amounts totaling $23,510,982.04 was given to his wife.
HBO series ‘Luck’ author John Perrotta said, "He was one of the most devoted gamblers. He was very serious about it, and he was a very good handicapper", regarding Milch in a comment to The Hollywood Reporter.
The full article is available here.
medtrans
8 years ago
"he was a very good handicapper" Obviously not if he lost everything. You can't be too good if you lose that kind of money betting on horses. They had to be some really big bets and not many wins. But like comments above, it is really no one's business.
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SassyGirlMe
8 years ago
Wow that is a shame. There always no matter how much money you have need a limit to loose. That limit always needs to be reasonable not outrageous. Rita Milch, David's wife, was unaware of the extent of the debt he had accumulated, I don't know if I believe that. I think she knew he had a gambling problem, maybe she just...
Wow that is a shame. There always no matter how much money you have need a limit to loose. That limit always needs to be reasonable not outrageous. Rita Milch, David's wife, was unaware of the extent of the debt he had accumulated, I don't know if I believe that. I think she knew he had a gambling problem, maybe she just did't realize how much of a problem it was, til it was too late.
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eberetta1
8 years ago
"he was a very good handicapper" , unreal.
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Kristen Munoz
8 years ago
wow that is just a shame to hear of this I know first hand how bad gambiling can be and I can really feel his mind state to an extent . I am sure he has won more then its being put out in any media . irs is a bad one to have on your back . well he will be ok I am sure with all the writing and creative talent he dosent need...
wow that is just a shame to hear of this I know first hand how bad gambiling can be and I can really feel his mind state to an extent . I am sure he has won more then its being put out in any media . irs is a bad one to have on your back . well he will be ok I am sure with all the writing and creative talent he dosent need to fall back into gambling as a living
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hobitgirli
8 years ago
This is sad, people should play and make bets only if they can also handle lost with smile, then its not too much.
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CATLICKER
8 years ago
I'd much rather blow it on parties & loose women !!!
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Feelin froggy
8 years ago
It further shows us that no one is invincible and you don't always walk away a winner even if you have $100 million in the bank. You can be the guy who came up with hit TV shows or someone living paycheck to paycheck but the message is always the same.
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nickles987
8 years ago
On one hand, its good to make the public aware of the dark side of gambling which is just as dark and sad as any other disease/addiction. On the other hand, this is very personal and none of our damn business, its not like the guy is one of the kardashians or someone who is constantly offering every detail of their life....
On one hand, its good to make the public aware of the dark side of gambling which is just as dark and sad as any other disease/addiction. On the other hand, this is very personal and none of our damn business, its not like the guy is one of the kardashians or someone who is constantly offering every detail of their life. Give the guy a break.
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