Phil Ivey wins $11 Million - Casino refuses to pay

[credsfan03]

If he would have lost this amount of money the casino would not have said anything but since he won they have to try to think of reason why they should not pay him. They need to shut this casino down.

 

[jacor]

Haha Phil Ivey makes more per night than the casino makes per month Thats why they are pissed and refuse to pay

 

[Matt Vaughan]

Haha Phil Ivey makes more per night than the casino makes per month Thats why they are pissed and refuse to pay

You really think the casino doesn't make that much in a month?

 

[CrossedLine]

You really think the casino doesn't make that much in a month?

I laughed out loud to this

 

[poker d player]

We need an update. Did they pay him or tar and feather him ?

 

[OzExorcist]

We need an update. Did they pay him or tar and feather him ?

Unlikely you'll get one any time soon. Ivey has made it pretty clear he doesn't want to talk about it publicly (mind you, he rarely wants to talk about anything publicly) and there's no upside for the casino in talking about it.

On a side note, obviously I can understand the interest in this story, but it really has zero relevance or impact on any of us. It's not like any of us are ever likely to actually play at this particular casino and even if we did, it's not like we'd be playing for the kind of stakes where there'd be any risk of not getting paid at the end...

 

[deucem]

Unlikely you'll get one any time soon. Ivey has made it pretty clear he doesn't want to talk about it publicly (mind you, he rarely wants to talk about anything publicly) and there's no upside for the casino in talking about it.

On a side note, obviously I can understand the interest in this story, but it really has zero relevance or impact on any of us. It's not like any of us are ever likely to actually play at this particular casino and even if we did, it's not like we'd be playing for the kind of stakes where there'd be any risk of not getting paid at the end...

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.
But then the stoty contiues............................................
Suspicions over the win intensified when it was discovered that his companion’s membership of another Mayfair casino had previously been suspended. The reason for this has not been revealed.

Reading between the lines methinks there may be a suggestion of card counting in this story but we won't find out until it is lawyers in the High Court :fight: :fight: :fight: .......or maybe never if they settle out of court......:shakehand :shakehand :shakehand

 

[OzExorcist]

Reading between the lines methinks there may be a suggestion of card counting in this story but we won't find out until it is lawyers in the High Court :fight: :fight: :fight: .......or maybe never if they settle out of court......:shakehand :shakehand :shakehand

I don't claim to have any special knowledge of card counting, but here's the thing - he was playing Punto Banco (a skill-free variant of baccarat, as the original article notes), not blackjack.

All the cards in Punto Banco are dealt and drawn according to specific rules: the player has exactly zero input on whether they draw another card or not, so there's no advantage to be had in that respect from card counting.

The only thing the player would have control over and could possibly change based on counting cards is whether/how much they bet on a given hand. The article suggests he was betting the same amount on every hand (50K, then 150K once the casino approved a raise in the stakes) though, so that would seem to rule that out too.

FWIW I think tenbob nailed it a week ago - it sounds like the casino is simply regretting its decision to let him play that high for that long, and doesn't have the funds to pay him out.

 

[Sheyetterly]

I make that much every time I hit the casino

 

[MasterOfDisaster]

Bad when I won that amount I put it all on black.

 

[Caesura]

On a side note, obviously I can understand the interest in this story, but it really has zero relevance or impact on any of us. It's not like any of us are ever likely to actually play at this particular casino and even if we did, it's not like we'd be playing for the kind of stakes where there'd be any risk of not getting paid at the end...

I'm a member of Genting and go to London fairly often, so unless they have a strict door policy, it's very possible for me to play there - except I won't until there is a reasonable explanation for them not paying out. I emailed Genting to ask why but they said that Genting (this location) and Genting (that location) were separate companies and they couldn't possible answer - which is a crap response.

 

[OzExorcist]

I'm a member of Genting and go to London fairly often, so unless they have a strict door policy, it's very possible for me to play there - except I won't until there is a reasonable explanation for them not paying out. I emailed Genting to ask why but they said that Genting (this location) and Genting (that location) were separate companies and they couldn't possible answer - which is a crap response.

This whole story just reeks of Ivey having won so much that the casino is having trouble finding the money to pay him out. Which brings me back to my point: unless you're going in there and dumping a million on the table to play with, there's pretty much zero chance of something like this happening to you.

This is a rich person's problem, not an ordinary person's problem.

 

[OzExorcist]

In case anyone finds it interesting, this story came up when I was talking to some casino worker friends (Australian ones, no connection to the casino in this case) over the weekend.

They were of the opinion that the other likely explanation (aside from "he busted the casino") would be that floor manager or supervisor that approved the rise in stakes from 50K to 150K per hand overstepped their authority in doing so.

 

[arahel_jazz]

They were of the opinion that the other likely explanation (aside from "he busted the casino") would be that floor manager or supervisor that approved the rise in stakes from 50K to 150K per hand overstepped their authority in doing so.

Where I work - we call that a "resume generating event"...

 

[long_bong]

either runs like god in life, or cheats. I think hes god.

 

[domeburglar]

Phil Ivey has a networth of 100 million (according to some online source) which may or may not be true but sounds like it easily could be a close number... it just doesnt make sense to me to risk his reputation and possibly criminal charges to win 7mil..

 

[OzExorcist]

Yeah, there's pretty much zero chance that Ivey is in the wrong in this case - it'll be a problem on the casino's end, whether it's not having enough money or some procedural error or whatever.

 

[deucem]

Yeah, there's pretty much zero chance that Ivey is in the wrong in this case - it'll be a problem on the casino's end, whether it's not having enough money or some procedural error or whatever.

If the casino is running while virtually insovent then perhaps Ivey should sue while he can. The threat of legal action would help to get him paid.

 

[ndirish620]

i hope he did cheat an he gets away with it for one that would just be insane on the planning part of it and because also if you think about it its europe giving the US money for our economy

 

[DaPirate]

Well I can cross that casino off my places to play in the future!!! LOL
I would be in the cheap seats and they would just take my funds anyway.
I think he will get the payout since he didn't touch his cards. Just wonder if he was changing bets or kept same bet?

 

[youregoodmate]

i hope he did cheat an he gets away with it for one that would just be insane on the planning part of it and because also if you think about it its europe giving the US money for our economy

You guys need more than £7 million to get yourselves out of that hole.

 

[long_bong]

You guys need more than £7 million to get yourselves out of that hole.

more like still in need of 13 billion more or is it trillion?

 

[domeburglar]

more like still in need of 13 billion more or is it trillion?

trilllion lol

 

[CheckraiseLife]

Ivey is one of those guys I love but dont want to meet in real life, The legend is bigger than his fleshy self and I'm terrified i'd hate him if I find out hes a dick. I like the though of ivey I have now as my hero lol, his gambling story is like legendary

 

[squarer]

It would be hard to imagine that Ivey would need to cheat. He has enough money and it's obvious he has skillls. Unless the hot asian chick made him do it.