Phil Ivey statement on Full Tilt Poker payouts

[OzExorcist]

There's a few interesting bits and pieces at the end of the latest Tao of Pokerati podcast on just how good Phil Ivey's lawyer is: long story short, he's supposed to be really good. Like the Phil Ivey of lawyering good if these stories are to be believed.

http://taopoker.blogspot.com/2011/06/new-episode-of-tao-of-pokerati-podcast_05.html

 

[BelgoSuisse]

Which is that maybe closing them down is the right thing to do?

And I think that the right thing to do is for you to lose a few thousand dollars. that would help you feel empathy for your fellow poker players

 

[trucker103]

crazy read here
see what if anything comes out of it for usa players

 

[TheKAAHK]

I see a few members here raggin' on Ivey, calling him selfish and "only doing what's good for him". I'll admit, I'd do the same damn thing. We are all poker players here, we play the game to take other people's money and make it our own by whatever means necessary. We look out for #1 at all times and that is ourselves.

Now I know that in our little community here we do things for each other, but in the end we are in it to make a bit of money.

Ivey is no different. He didn't get to where he is now by concerning himself with the feelings or interests of other people when it comes to poker and this situation is no different.

Understandably, people are upset because they have money tied up in FTP and are now looking for another reason to vent on the situation. Ivey didn't lock up your money, Ivey isn't stealing your money. This lawsuit will have little or no effect on the speed of which players get their money. FTP's pockets are a lot deeper than 150mil, and as OZ stated, the money is not the focus of the lawsuit, it is just a bargaining chip, or an "edge" as it were to get out of a contract and distance himself from a failing brand.

 

[Jbutcher77]

I see a few members here raggin' on Ivey, calling him selfish and "only doing what's good for him". I'll admit, I'd do the same damn thing. We are all poker players here, we play the game to take other people's money and make it our own by whatever means necessary. We look out for #1 at all times and that is ourselves.

Now I know that in our little community here we do things for each other, but in the end we are in it to make a bit of money.

Ivey is no different. He didn't get to where he is now by concerning himself with the feelings or interests of other people when it comes to poker and this situation is no different.

Understandably, people are upset because they have money tied up in FTP and are now looking for another reason to vent on the situation. Ivey didn't lock up your money, Ivey isn't stealing your money. This lawsuit will have little or no effect on the speed of which players get their money. FTP's pockets are a lot deeper than 150mil, and as OZ stated, the money is not the focus of the lawsuit, it is just a bargaining chip, or an "edge" as it were to get out of a contract and distance himself from a failing brand.

FT doesn't have 150 mil. If they did they wouldn't be looking for a loan, which now they will never get.

Also Ivey is one of the players who actually has a stake...a large one...in FT...no one knows more than that, but everyone does know he has a large stake in the co. I think that's why a lot of us are not happy with him.

 

[PokerMySelf]

I think that by doing this Phil is not helping at all the other US players in getting their money back.....

 

[Poker Orifice]

I see a few members here raggin' on Ivey, calling him selfish and "only doing what's good for him". I'll admit, I'd do the same damn thing. We are all poker players here, we play the game to take other people's money and make it our own by whatever means necessary. We look out for #1 at all times and that is ourselves.

Now I know that in our little community here we do things for each other, but in the end we are in it to make a bit of money.

Ivey is no different. He didn't get to where he is now by concerning himself with the feelings or interests of other people when it comes to poker and this situation is no different.

Understandably, people are upset because they have money tied up in FTP and are now looking for another reason to vent on the situation. Ivey didn't lock up your money, Ivey isn't stealing your money. This lawsuit will have little or no effect on the speed of which players get their money. FTP's pockets are a lot deeper than 150mil, and as OZ stated, the money is not the focus of the lawsuit, it is just a bargaining chip, or an "edge" as it were to get out of a contract and distance himself from a failing brand.

Maybe try reading up a bit more on some of the recent developments & FTP's current situation. What Ivey is doing is completely fking with the hand that fed him for sooo long, with the people who helped him to become famous (all the tv poker shows, commericals/ advertising etc.). They have made him very rich! He is now fkng them up in a big way.
I've always thought of him as an arrogant type.. & when I first saw his letter I actually fell for it for a day. Hearing more about further developments, I now think he's just a POS.

 

[Poker Orifice]

he's not playin' the wsop prolly cuz he doesn't want to get shot imo. (& won't have all his buyins covered for him)
maybe check out this other link here on CC
https://www.cardschat.com/forum/gen...rview-about-fulltilt-phil-198131/#post1752036

 

[OzExorcist]

This lawsuit will have little or no effect on the speed of which players get their money. FTP's pockets are a lot deeper than 150mil

I have to disagree on this point. While the lawsuit won't take money away from US players directly it's common knowledge now that they're seeking investors to raise the capital required to pay players out. The DOJ case already made them a sketchy investment. With ANOTHER big lawsuit hanging over them and one of the company's biggest assets (the endorsement of the best player in the world) is gone so it'll be that much harder and take that much longer to find investors. Addressing the case will also take time that Full Tilt management could have spent working on payouts.

So even if Ivey doesn't get paid a cent from this lawsuit it will still have delayed and jeopardised US player payouts.

 

[pokerchris]

I have to disagree on this point. While the lawsuit won't take money away from US players directly it's common knowledge now that they're seeking investors to raise the capital required to pay players out. The DOJ case already made them a sketchy investment. With ANOTHER big lawsuit hanging over them and one of the company's biggest assets (the endorsement of the best player in the world) is gone so it'll be that much harder and take that much longer to find investors. Addressing the case will also take time that Full Tilt management could have spent working on payouts.

So even if Ivey doesn't get paid a cent from this lawsuit it will still have delayed and jeopardised US player payouts.

Tiltware or/and fulltilt can just simply terminate Ivey's contract. The law suit will go away or dismissed by court.

 

[Poker Orifice]

Listen to Tony G's interview in link above.

 

[OzExorcist]

Tiltware or/and fulltilt can just simply terminate Ivey's contract. The law suit will go away or dismissed by court.

I don't think it'd necessarily be that "simple" but even if it were they'd still be a company short one of their biggest assets and they'd have wasted a bunch of time negotiating it. So what I said stands.

Plus the tone of Full Tilt's press release suggests they're not looking to take the conciliatory route.

 

[FreeRollWannabe]

You know... I would trade all my money on FTP, my points, all of what is on there now, Just to be able to play on it again.

Before they shut it down I had no idea how much I actually was relying on poker to pay the bills.

The sites that work for us are not nearly good enough and There is no way I can still make the thousands here in Black Hawk, Colorado. Sure I can make like a hundred or three in the casino, but there are not nearly enough players to get the FTP money.

Luckily I did withdraw 95% of my money before it got shut down.

Will it ever come back?? I really don't like the fact I had to get a job.

 

[pokerchris]

I don't think it'd necessarily be that "simple" but even if it were they'd still be a company short one of their biggest assets and they'd have wasted a bunch of time negotiating it. So what I said stands.

Plus the tone of Full Tilt's press release suggests they're not looking to take the conciliatory route.

Tiltware and/or fulltilt can't have Ivey any more and they have to cut ivey off anyway. The best and easy way for tiltware and fulltilt is to cut the loses and move on very simple.

 

[OzExorcist]

...but even if they do that it's still going to have damaged their attempts to attract new investors and cost them a bunch of time and effort, which in turn will delay US payouts, which was my point.

Plus even if they can't have him any more they can try to make sure nobody else can have him either, at least for a little while. And you're ignoring the bit where Tiltware are claiming that Ivey owes them money. Just releasing him from his contract means they're giving up on that sum, which could be substantial.

 

[belerophon]

And I think that the right thing to do is for you to lose a few thousand dollars. that would help you feel empathy for your fellow poker players

I have a terrific amount of empathy for my fellow players. I'm only stating this because of my concern for how easy it was for so many FT players to lose money that so rightfully belongs to them.

Money, that if there had been better regulation, they'd have access to now.

 

[postflopper]

Ivey's a poker player, a born hustler. Not a saint. Can't believe anyone actually thinks he's doing this for the 'greater' good. His money is at risk too, obviously he's gonna look out for himself first and foremost.

 

[Poker Orifice]

. His money is at risk too, obviously he's gonna look out for himself first and foremost.

What about all the money that he 'owes' Fulltilt?
Without knowing all the facts/details, etc., I think he's an azz Personally I want to see FTP survive thru this.. I LOVE that site!!!

 

[Jarod1231]

Yet another reason why Ivey is awesome