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Phil Ivey might have to pay $15,000,000 to Borgata

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Garfed   Malta. Dec 02 2016 18:17. Posts 4818

Latetly Phil Ivey isn't have much luck. Borgata casino made a claim that Ivey’s case is identical to one in the Golden Nugget in 2012 where the judge sided with the casino management.

A legal team representing The Borgata Hotel Casino & Spa in their Baccarat cheating case with Phil Ivey are arguing that his case is the same as that of a group of gamblers who were forced to return $1.5m in winnings to the Golden Nugget.

To give you some more information, in 2012 year 14 players realised that the deck of cards they were using in a game of Mini-Baccarat had not been shuffled and quickly increased their bet sizing from $10 a hand to $5,000. They won 41 straight hands.

The judge ruling over mentioned case declared that the games weren’t authorized because the cards were not pre-shuffled‘in accordance with regulations, and this violated the Casino Games Act. The judge ordered the players to return their winnings, but the casino had to refund the money the gamblers put up at the beginning of the game.

The Golden Nugget bought, what they assumed to be pre-shuffled cards, from a manufacturer in Kansas City. During court proceedings, the company admitted they had failed to shuffle the cards. The casino also sued the manufacturer, but a confidentiality agreement means the results will forever be a secret.

So how is this relevant to Phil Iveys case? Borgata says it's quite similar (as it was cards manufacturers mistake).
Ivey’s legal team reminded the court that the charges levied against their client and his accomplice Cheng Yin Sun are for ‘breach of contract’ and that the judge presiding over Ivey’s case had admitted that Ivey had not violated any rules or regulations, the opposite of the ruling in the 2012 Golden Nugget case.

Cheng Yin Sun argued that despite using edge sorting tactics to win the huge haul they were still gambling.

“I can’t be accurate all the time, you know,” she told the court.

She had a point – they did sustain a $2.7 million loss in ‘minutes’ during their third visit to the casino during the four trip run that saw them win over $10m. The story – which broke in NorthJersey.com – pointed out that during that visit; Ivey won 864 hands, lost 822 and tied 184.

“Defendants can prove that the edge sorting technique provides information for betting purposes only, and does not change the percentage of the winning hands to any extent,” Said Ivey.

The judge will now have to decide whether Ivey is right. Borgata is seeking $15m from Phil and won't stop.

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Nitewin   United States. Dec 02 2016 21:22. Posts 1539

He should've stuck to "I don't know what you're talking about," instead of admitting to edge sorting in the first place. What a mess.


traxamillion   United States. Dec 02 2016 21:51. Posts 10468

That golden nugget decision is fucked too. Casino's mistake for not inspecting the decks and letting the game roll on (41 straight wins for the player after increasing betsizing 500x lol). Players actually had less to do with that error than in ivey's case and were only using readily available information.

If ivey loses this, rigged


Santafairy   Korea (South). Dec 02 2016 22:16. Posts 2224

this clip doesn't have it but what the borgata is actually saying ivey owes is $5.4m extra that he would have been expected to lose if he'd been betting the same with the normal house edge

It seems to be not very profitable in the long run to play those kind of hands. - Gus Hansen 

Spitfiree   Bulgaria. Dec 02 2016 22:22. Posts 9634


  On December 02 2016 21:16 Santafairy wrote:
this clip doesn't have it but what the borgata is actually saying ivey owes is $5.4m extra that he would have been expected to lose if he'd been betting the same with the normal house edge


What the actual fuck. What is this insolence wow

@Nitewin naaah He s too well known of a gambler to be able to say something like that for people to actually believe him. Plus if he can bring "scientific" proof of his claims then that should push his edge even further I think


Nitewin   United States. Dec 03 2016 05:35. Posts 1539

He definitely looks like he's aged a lot these last few years, probably due to the stress from this case.


hiems   United States. Dec 03 2016 08:23. Posts 2979

$15 million is alot of money, even for Ivey standards. It's hard to speculate whether the worst case scenario puts him in any type of risk financially. I will say though that I don't think Phil Ivey going broke is a good thing for the image of poker. Hope he wins the case.


I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img] 

SPEWTARD   Peru. Dec 03 2016 16:45. Posts 4306


  On December 02 2016 17:17 Defrag wrote:
Latetly Phil Ivey isn't have much luck.




spell/grammar check plz

Rise and ShineLast edit: 03/12/2016 16:46

austrian oak   Belgium. Dec 03 2016 20:27. Posts 520

Can't fight the windmills

Valor pleases you, Crom... so grant me one request. Grant me revenge! And if you do not listen, then to HELL with you! 

traxamillion   United States. Dec 03 2016 23:01. Posts 10468

If he loses he doesnt pay a dime. He probably already has citizenship somewhere else and would just live in Europe/Asia as long as he has to.

He already plays in macau etc. regularly.

He would never have to pay the 5.4 million for expected losses either. That is just starting high for potential settlement negotiations or whatever. Same thing cops and district attorneys do. Initially slap on every charge possible whether or not it would actually stick in court and get you to plea out.


traxamillion   United States. Dec 03 2016 23:04. Posts 10468

The crockfords case is different because they held iveys money until they won the case (other than 1 mil, no idea what happened to that. Maybe he payed it if he wants to stay in UK and possibly has citizenship there paying no tax on gambling income) so they didnt have to deal with collecting after a decision.

Anyone who has been through civil court knows winning doesnt mean you are collecting. The courts wont really help you


casinocasino   Canada. Dec 04 2016 01:10. Posts 3343

I told my friend that what the casino's are doing is fraud because they can always take the customer's money when he loses but when he wins they can claim defective cards that they "mistakenly" use.


 



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