Phong Ly is a professional poker player from Los Angeles, best known for his impressive performance at the 37th World Series of Poker in Las Vegas in 2006.
Participating in the $1,500 No Limit Hold'em event at the 37th World Series of Poker, Ly made the final table in a field consisting of 2776 competitors, all vying for a share of the pool of $3,789,240. In a final table that was dominated by Americans, Phong Ly was forced to settle for second place by compatriot Brandon Cantu. Ly, however, left the Rio Hotel and Casino with $416,816 as earning for his runners-up performance.
In September the same year, Phong Ly participated in the California State Poker Championship at the Commerce Casino in his hometown, Los Angeles. In the $291 No Limit Hold'em event, facing 685 other entrants, Ly finished 23rd with earning of $3,125 of the $521,181 prize pool.
Thanks to these two performances, Phong Ly finished 2006 at #57 in the World Series of Poker Money List. He also made it on the WSOP 2006 Number of Cashes and WSOP Times Cashed lists, ranking 650th and 4159th respectively.