Phil Ivey wins $11 Million - Casino refuses to pay

[danprince10]

Ivey's made at least 10 times what hes made in tournies in cash games and sponsorship and full tilt distribution money. In fact I'd be shocked if he hadn't made 20 times his career tournament winnings in his life from all his non tourney income.

 

[onemorechance]

Look ONE Post up



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.

The point stands ****tard, only his ****ing bank manager knows how much is in his account

 

[Chemist]

Apparently he can make 7.3 million in a day at Punto Banco,
well he might have done if they had paid him.

 

[deucem]

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

I agree, and probably no bonuses for the Punto Banco dealers this year.
:smokin: :smokin: :smokin: :smokin: :smokin:

 

[OzExorcist]

Look ONE Post up
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.

I doubt he ever even looked at the Full Tilt Academy, let alone the bankroll management section. After all, he's Phil gawd damned Ivey. Why would he need to?

As for the recommended bankroll for playing a $1 million dollar buyin... if we're talking about poker, the question is irrelevant because bankroll management is for games that you can play in on a regular basis and there simply aren't enough million dollar games for him to be playing in them regularly. So the question instead becomes one with a yes/no answer: "do I have a million dollars lying around that I can afford to lose, yes or no?"

Obviously in Ivey's case the answer was yes.

If we're talking about playing table games then the question of bankroll management is also a moot one, because no amount of bankroll management will offset the fact that table games are -EV. So once again, the question just becomes "do I have a million dollars lying around that I can afford to lose, yes or no?"

But ignoring all those facts, if you just want a simple answer on what kind of bankroll you'd want to be playing in million dollar games regularly, the answer is probably somewhere in the $30-$50 million ballpark.

 

[poker d player]

Sounds like something might be up ? Do you think this woman made him an offer he couldn't refuse ? If she had a history of cheating / "winning" possibly she needed a new face on the game ? I would think for them to make a move this bold with such a high profile person they would have to have some strong information. Why would they risk their reputation if they didn't ?

 

[noW]

2 options here: pay him the money or pay him the money.

Ivey will keep it down and win it plus image penalties.

 

[coyotegal]

Sounds like bs to me. The casino needs to cowboy up and pay him and cut the crap. How many others have lost at least that much and more? I bet the casino doesn't do an investigation then.... Sounds like the casino thinks they had a right to that money since the odds are in their favor. I hope they have to pay back every penny and more for being so stupid about actually losing for once!:smokin:

 

[Spikestar]

Pay that man his money

I agree with the Mad Russian.

Ten cameras. If they have nothing concrete from that lot they surely must pay out.

 

[Chemist]

. . . After all, he's Phil gawd damned Ivey . . .

Thanks Oz nice answer.

 

[FastOne]

They didn't find anything "strange" on the cards nor the shoe... and they have all the action from 2 days (not just one day, he won on both days) recorded by 10 cameras!

I can't understand why a Casino would risk their reputation by not paying such a famous poker/gambler person the money he earned. Only thing I can think of is $11.5 million is a loss too big to handle for this Casino.

 

[ChipTowerz]

Phil's goin thru what alot of u.s. players went/go thru with the whole online sites not payin players except way more money$$$. i dont think he cheated though and i think he should get paid his winnings!

 

[pokerchris]

Whenever someone finds a way to beat the casino, like counting cards in black jack, the casino will make it illegal. casinos define their business as making money by providing services. Any actions lead them to loss money are illegal.

 

[Caesura]

I joined my local Genting last week. I won some money there at poker but this story means I'm not going back until Phil Ivey gets his money or there is a clear explanation of why not.

 

[wangotango]

Sounds to me like they exhausted every avenue they had trying to prove that he cheated so they wouldnt have to pay him but they failed..... Pay da man!!!!!!!!!

 

[tcummo]

Beautiful oriental women, millions of dollars?
Sounds more like James Bond...
What a life...
Ahhh...but..is he happy tho'?
Erm.........probably.....

 

[deucem]

Beautiful oriental women, millions of dollars?
Sounds more like James Bond...
What a life...
Ahhh...but..is he happy tho'?
Erm.........probably.....

LOL

 

[smokeme]

stupid bank holiday the casino just dont feel like paying. lol like bookies when you hit it big.

 

[Poker Orifice]

karma? Phil experiencing what it's like on the other side perhaps.
Obviously not suggesting he shouldn't be paid (if everything is on the up & up) but I'm afraid I have no sympathy for Phil Ivey.... not after hearing about his b.s. with FTP (I'm referring to the goofy lawsuit at worst possible time as far as players on FTP were concerned). I wonder if he owes the 'former' FTP ~11mill? or is it more?

 

[Counale81]

Poker Lover

$11 Million huh? Not bad for a nights work

 

[arahel_jazz]

Beautiful oriental women, millions of dollars?
Sounds more like James Bond...
What a life...
Ahhh...but..is he happy tho'?
Erm.........probably.....

I think Ivey would be a great Bond poker playing villian, if Mads Mikkelsen (Le Chiffre) hadn't beat him to it.

$11 Million huh? Not bad for a nights work

It was actually two nights, but still... not bad work if you can get it.

 

[Extreme Fishing]

I take it he is no nearer to getting his money? Pretty big scandal if you think about it.

 

[TakinOver]

Heard about that, hope he gets his money. Thats nonsense, these casinos should pay double if they dont come up with his cash quick. Sore losers. Thats what they get, its ok for us to lose but not them. Bull crap.

 

[otari]

I doubt he was cheating. If he was a cheater he would have been caught much much sooner with today's technology.

 

[lenstra]

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%

I should correct this post: The amount won is wrong, since by winning 10 hands more than average you win 20 hands more than you lose, so it's double than that. Everything else is (hopefully) right. The fixed stats are:

Win 10 hands or more than average (£3,000,000 win or better): ~18%
Win 20 hands or more than average (£6,000,000 win or better): ~2,8%
(Win 25 hands more than average (£7,500,000 win or better): ~0.84%)
Win 30 hands or more than average (£9,000,000 win or better): ~0,19%
Win 40 hands or more than average (£12,000,000 win or better): ~0.0055%
Win 50 hands or more than average (£15,000,000 win or better): ~0.000061%

Which increases the chances from almost impossible to improbable. Sorry if someone has been mislead because of this