Seems like a relevant link. Some juicy details. Looks like he bet a TON...and lost a bunch.
1) I know he used to have a lot of information. Eg: he could name every NFL long-snapper.
2) Phil mentions that he had the finances to deal with the losses. So, sounds like it was for the action. And it pulled him away from Family time.
3) One thing surprises me. Did he ever IMPROVE as a gambler? The answer to that is seemingly NO.