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Phil Ivey Loses Against Borgata

19 December, 2016 | 13:22 от Aleksandra

Етикети: ,


Undoubtedly, it’s not Phil Ivey’s year

Firstly, his appeal for the $12 million he won at the Crockfords was turned down by a London appellate court last month. And now he has lost his edge sorting case with Borgata and he has to pay $10,1 million to the casino.

Two months earlier, a court in New Jersey ruled that his session of baccarat at the Borgata Casino and Hotel was not illegal, but it was in violation of the casino rules.

Since then Borgata filed a claim for damages, wanting $15,5 million from Ivey. According to the casino, if Ivey and his friend Cheng Yin Sun were playing without using their edge sorting technic, Borgata would have earned almost $6 million, given the true house edge.

Borgata also brought a case of fraud before the court. Both, the claim for $15,5 million in damages and the fraud charges have been dismissed.

Anyway, the court ordered Ivey to pay back an 8-figure sum due to the fact that he subverted the true nature of the game. According to HighStakes, the judge ruled that the house’s edge was one of the defining characteristics of baccarat. By shifting the odds in his favour using slight flaws in the cards patterns to determine their value, Ivey and Sun were in effect playing a different game, and one which was not regulated by the New Jersey Casino Control Act.

The $10,1 million payment includes the $9,6 million Ivey won at the baccarat table and additional $504,000 he won at craps, using the money he had made from Baccarat.

It is still not sure whether Ivey will appeal this decision. Given that he is appealing to the UK Supreme Court in the case of Crockfords, we could expect to do so with the Borgata case.