Michael Moncek, better known as “Texas Mike”, is believed to have a net worth of somewhere in the eight-figure region.
The Chicago native, whose nickname comes from his stint at the University of Texas, describes himself as a recreational player. However, after inheriting the family business, he’s now bankrolled to compete in some of the world’s biggest poker games.
Since taking part in his first World Series of Poker Circuit event in 2016, Texas Mike has secured two WSOP bracelets and four Circuit rings, as well as over $4 million in tournament earnings.
What is Texas Mike’s Net Worth?
While Michael Moncek has never publicly discussed his net worth, speculation suggests that it could be tens of millions of dollars.
It’s believed that his father, Michael J. Moncek, sold a large portion of BOX Management, the family business, possibly receiving a nine-figure sum. However, Moncek Sr. retained a small interest in the industrial packaging company.
After Moncek’s unexpected death in 2019, Moncek Jr. (Texas Mike) appears to have received a significant inheritance, including his father’s stake in BOX Management.
This inheritance could certainly explain why this self-described “recreational player” can suddenly afford to play in numerous super high-stakes tournaments. His famous cash game loss of $2.75 million in a single session likely didn’t hurt his ego too much either.
Texas Mike’s Poker Record
According to the Hendon Mob poker database, Michael “Texas Mike” Moncek has earned more than $4.1 million from live tournaments.
As far as we know, he doesn’t play much at online poker rooms, though he has one recorded WSOP Online cash.
WSOP Success
His first significant success came in January 2019, when he claimed the first of his four World Series of Poker circuit rings, earning $60,532 at the event in Milwaukee.
Texas Mike managed to top that in June 2022, winning the first of his two WSOP bracelets, claiming $145,856 from the $1,500 Limit Hold’em tournament. Impressively, he had never played the game before.
A year later, he triumphed in a $5,000 No Limit Hold’em and Pot Limit Omaha mixed event, securing his second bracelet and what was a personal best payday of $534,499.
High Rollers
These days, you’ll find Michael Moncek playing more high-roller events than ever before.
In December 2024, for instance, he finished ninth in the $500,000 Triton Million at WSOP Paradise, earning him $1.2 million.
At the 2024 WSOP, he finished third in the $25,000 Limit H.O.R.S.E. High Roller, picking up $336,442 for his efforts. He also placed fifth in the 2022 $100,000 No Limit Hold’em High Roller, securing a $420,944 payout.
He also took home a sixth-place finish in the $25,000 Pot Limit Omaha event at WSOP Paradise in 2023 to earn a cool $172,300.
Despite all these near-misses, Texas Mike has proven he can contend with the very best in the world.
Big Cash Game Losses
However, it’s not all been plain sailing for Texas Mike, as we saw on the Hustler Casino Live stream in May 2024.
Competing against the likes of Tom Dwan and Brandon Steven in the Million Dollar Game, Moncek got off to a great start, booking a win of more than $500,000 on the first day.
However, he ultimately ended up more than $2 million in the hole, managing to lose around $2.75 million from a single session. A sizeable chunk of his losses came in this $2.2 million flip with Alan Keating.
Texas Mike’s Poker Strategy
One of the main reasons Michael “Texas Mike” Moncek has come to prominence is his outrageous playing style.
He’s mostly known for his extraordinarily high VPIP figures of 75% and above while running crazy bluffs with complete air.
There’s no better example than this famous incident from day two of the aforementioned Million Dollar Game, which Upswing Poker dubbed “the craziest hand of 2024”.
Million Dollar Bluffs
Picture the scene. The blinds are $500 / $1,000.
Hook makes it $6,000 with 8♣️7♣️, Handz flats with T♣️9♣️, and Texas Mike, who had straddled from UTG, calls with T♥️2♠️.
A flop of 4♣️5♥️A♠️ gives Hook a gutshot straight draw with a backdoor flush draw, while Texas Mike has nothing but a gutshot of his own. After Hook bets $5,000 and Handz folds, Mike opts to call.
However, the turn brings the 6♠️, giving Hook his unlikely straight. Mike opts to check before Hook fires $16,000.
Rather than fold, Mike decides to make it $52,000 to play. Naturally, Hook opts to call, making the total pot $136,000.
The A♥️ hits the river to pair the board and Mike checks to Hook, who overbets to $160,000 with his straight.
At this point, you have to figure that Mike is going to fold. Instead, presumably channeling the spirit of the late, great Doyle Brunson, – he check-raises to an insane $734,000.
With the pot at over a million dollars, Hook has a hand funeral before finally folding, allowing Texas Mike to get away with one of the craziest, most expensive bluffs we’ve ever seen.
Is Texas Mike Good at Poker?
It seems fair to say Texas Mike is pretty good at poker.
Despite the high-profile losses, it takes something special to sit in a $500,000 buy-in tournament or a million-dollar cash game.
What’s more, you’re not picking up two WSOP bracelets, four WSOP Circuit rings, and over $4 million in live tournament earnings without some profound understanding of the game.
Conclusion
You can argue about how good Texas Mike may or may not be at poker. But one thing is for certain – he’s good for poker.
In an era where the game is short of captivating characters, this man has excited a lot of people, bringing new attention to poker.
It seems unlikely that Michael Moncek’s net worth was earned from playing poker, but from his business and family instead.
But ultimately, who cares? He’s fun to watch and phenomenal for the game. Hopefully, he starts playing in some big online poker tournaments sometime soon.