Phil Ivey wins $11 Million - Casino refuses to pay

deucem

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BRITAIN'S oldest casino is investigating a £7.3 million ($11.5 million) win by the world’s top poker player – and is refusing to pay him a penny.

Crockfords, an exclusive gaming club in London's Mayfair, has informed the authorities that it is withholding Phil Ivey’s payout. A source with close knowledge of the dispute described the situation as unprecedented.

Accompanied by a "beautiful Oriental woman", Mr Ivey, a 35-year-old Californian, was playing Punto Banco, which is a skill-free variant of baccarat, when he struck a remarkable winning streak. The 184-year-old casino initially agreed to transfer the winnings to his bank account, but six weeks on it has returned only his £1 million stake.

Instead it began an exhaustive inquiry. Staff, including the female croupier, were interviewed at length amid fears there may have been some form of collusion. This is thought to have been ruled out. While it is unclear what, if anything, Mr Ivey has been accused of, lawyers for both sides are said to be engaged in an increasingly tense stand-off. It is not thought that police have been alerted.
full story here: http://www.news.com.au/entertainmen...ut/story-e6frfmqi-1226490125827#ixzz28bGVZlWW

judgment:
Phil Ivey Loses Court Battle



additional case:
http://www.nj.com/south/index.ssf/2...ty_baccarat_win_at_borgata_was_all_skill.html
World-famous poker player Phil Ivey says his disputed $9.6 million baccarat win at Atlantic City's Borgata casino was all skill, and is seeking the dismissal of a lawsuit in which the casino accuses him of cheating. John Falcicchio, a spokesman for Ivey, told The Associated Press the motion was filed Wednesday night.

In April, the Borgata sued Ivey, who grew up in Roselle, alleging he and an associate exploited a defect in cards that enabled them to sort and arrange good cards. The casino asserted that technique gave him an unfair advantage on four occasions between April and October 2012. The casino claims the technique, called edge sorting, violates New Jersey casino gambling regulations.

But Ivey's motion says his win was simply the result of skill and good observation. "Each and every penny of defendants' winnings was the result of sheer skill," Ivey's lawyers wrote in court papers.
 
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MasterOfDisaster

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If he is a cheater time will tell anyways. Otherwise just speculation imo.
 
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sryImPro

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Damn that is so painful...wouldn't that be almost whole his profit in gambeling he achieved so far? :/
 
Mortis

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Sounds like they are still investigating, but from that article, it also sounds like he did nothing wrong and should get all his money. But I'm sure we don't have all the info.
 
Four Dogs

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They've got no reason to think he tampered with the cards or received help from an outside source. They have 2 night worth of footage which reveals nothing suspicious. He has no prior history of cheating in any way at any other casino. The only reason they have to be suspicious is that the girl he was with had her membership suspended at another casino under the same ownership. Sounds like he's getting screwed to me. He buys in for £1 million and cashes out £7.3 million after playing for 2 days, big deal. £7.3 million is a lot of money but far from remarkable given the stakes he was playing at.
 
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dan abnormal

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WOW if Ivey enters the world of the bad guys in poker, (FT aside) then dang who can we believe
 
Debi

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I would be shocked to find out he was cheating. I am reasonably shocked he would gamble for a million dollars lol.
 
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onemorechance

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Pay that man his money
 
O

onemorechance

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His mother, Pamela Ivey, who lives in Las Vegas, said: ‘He never mentioned it. It can’t have been very important to him, or I think he’d have mentioned it.

And you can say what you want about Ivey, but he's still baller as ****
 
kissapig

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He never touched any of the cards, I am sure there were multiple dealers involved, if this went to court the casino would have to pay him. They should just suck it up and pay the man.
 
JCgrind

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I would be shocked to find out he was cheating. I am reasonably shocked he would gamble for a million dollars lol.

I agree. Obv he has no respect for money, and fair enough. But still, what a degen lol
 
Matt Vaughan

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I would be shocked to find out he was cheating. I am reasonably shocked he would gamble for a million dollars lol.

He apparently has basically zero respect for money, in that it means nothing to him at all. Still sick though :D
 
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I was curious of what were the odds, so I calculated them. Assumed he played for 7 hours at 1 hand per minute at £150,000 stake and a hand is like a coinflip, the chances are:

Win 10 hands or more than average (£1,500,000 win or better): ~18%
Win 20 hands or more than average (£3,000,000 win or better): ~2,8%
Win 30 hands or more than average (£4,500,000 win or better): ~0,19%
Win 40 hands or more than average (£6,000,000 win or better): ~0.0055%
Win 50 hands or more than average (£7,500,000 win or better): ~0.000061%
 
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C

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Thats incredible; I can see it both ways. He will probably get his money but if I was the casino I'd go deep down that rabbit hole to try and keep all that cash.
 
arahel_jazz

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Makes me wonder how fast that wonderfully nice casino would have TAKEN the money had he lost it on markers...
 
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only_bridge

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Maybe they cant cover his winnings.
 
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luckyhearts

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I have seen people get incredibly unlucky(me usually), so when someone gets incredibly lucky, its cheating?
I don't see how they could have cheated a game like that without a lot of inside help, this SHOULD run off a great deal of the casino's high rollers.
 
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Ranny

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Reported in a shite newspaper, wouldn't take to much notice.

Be standard checking I'd have thought.

Where did the story come from, obviously not from Ivey himself
 
CAMurray

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Never leave the Casino without your winnings. Cash, Chips, or Check; take whats yours. You can bet your ass they wouldn't let you leave with theirs.

My guess would be once it was given to "lawyers", he can kiss those winnings good-by.
 
OzExorcist

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Damn that is so painful...wouldn't that be almost whole his profit in gambeling he achieved so far? :/

LOL - not even close. We're talking about Phil Ivey here. He's got over $17 million in (unadjusted) poker tournament winnings alone, and he doesn't even play that many tournaments.

So yes, it's a lot of money, but he gambles for these stakes on table games all the time.

The thing about him being a common hit-runner is backed up by various other stories and sources, FWIW. There was a piece done on him when he made the Main Event final table a few years back where a reporter followed him on a multi-day casino tour where he'd do things like play craps for 15 minutes, get up a few hundred thousand and then quit.
 
C

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So he's playing 1 million BI from a 17 million bankroll.
I wonder if ever did the Fulltilt Academy BRM module.
 
tenbob

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Really strikes me that the casino in question is in serious finincial trouble, and cannot afford to pay.
 
C

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How the **** do you know what his bankroll is?

Look ONE Post up

LOL - not even close. We're talking about Phil Ivey here. He's got over $17 million in (unadjusted) poker tournament winnings . . .

Understand the context and no need to be pedantic or rude about it.
Clearly we don't know exactly what his roll is or whether he even has an allocated roll, and realise he has other sources of income other than tournaments, so it's only in relation to that public information.


Do you think he ever did the Fulltilt Academy BRM module.

What is the recommended bankroll for a Million dollar buyin.
 
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