Friday, November 11, 2016

And now the Borgata Wants its Monoey Back!

Borgata to sue Ivey
With the decision in the Phil Ivey baccarat edge-sorting trial in from London, Ivey's main US victim, the Atlantic City Borgata, wants its money back!

That would mean about fifteen million bucks plus damages!

The damages, they say, are a quarter million in casino comps, to which one Borgata official said Ivey and his female cheat partner, Cheung Yin Sun, drank bathtub-loads of their most expensive champagne.

They also claim that had Ivey played without the cheat tactic, he would have lost $5.5 million according to probability analysis.

So, we go from one Ivey edge-sorting trial to perhaps another. Read an article about it here.

Poker Champ Phil Ivey loses baccarat-cheating case appeal against Crockfords

Cheat loses appeal
We've all been hearing several accounts about this story since 2014, but now it is finally over. Phil Ivey and his female partner Cheung Yin Sun, who has had prior problems with casinos, used a cheating tactic known as edge-sorting to beat Crockfords for more than $10 million back in 2014. This tactic was taking advantage of defects in the cards which allowed them to partially know the value of the cards before they were turned face-up. Ivey and Sun also manipulated the dealers to change their dealing procedures so they could better determine the cards' values before placing their bets.

The UK casino Crockfords refused to pay Ivey his winnings once they discovered his tactic. Ivey sued and lost back in 2015, and now his appeal has also come up loser, so the case is finally over.

Ivey had this comment about the judge's decision: "The trial judge said that I was not dishonest and the three appeal judges agreed, but somehow the decision has gone against me. Can someone tell me how you can have honest cheating?

The pair also made tens of millions using the same cheat scam in various casinos across the world, most notably the Borgata in Atlantic City.

My take: Come on, Phil, give us a break! What has never come out is exactly how Ivey came to know about these card defects. It is my theory that his foxy little Korean cheat partner, Sun, got the information and passed it along to Ivey, who then used his celebrity to dupe Crockfords and the Borgata into dealing their baccarat game outside of correct and normal procedure, which is a form of altering casino dealing, and that constitues cheating at gambling.

And let's not forget that Ivey had premeditated plans to do exactly what he did.

Bottom line: Phil Ivey is a casino cheat and is even in the Casino Cheats Hall of Fame!