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24

Phil Ivey attempts to Delay $10.1M Payment to Borgata from Edge Sorting Dispute

Tags: Borgata, edge sorting, Phil Ivey.
Posted on Friday, August 24, 2018 by "T".

The Borgata may have been successful in winning their court dispute against poker pro Phil Ivey over the baccarat winnings he earned by using a technique called edge sorting at the casino, but another obstacle reared its head up, and this time it is when exactly the poker pro will be able to pay that money.

According to Card Player magazine, court documents reveal that the Borgata legal team is now asking a federal court to deny a motion from Ivey's attorneys that would delay the judgment and allow him to avoid posting a bond to cover the amount pending appeal.

Borgata emphasizes that Phil Ivey can pay the amount and still play poker.

Ivey's attorneys argued that forcing him to make a $10.1 million payment would ‘clearly be of devastating impact', and at the same time, the Borgata will not be financially hurt if the judgment is delayed for some time. However, the casino did not agree with the first claim, saying that Ivey's team has failed to prove that the 10-time WSOP bracelet winner would suffer ‘irreparable harm' when he makes the payment.

The Borgata is emphasizing that Ivey's poker career will not be seriously impacted if he pays that amount, and that he will still be able to have a reasonable bankroll even without the funds he won from them via his edge sorting scheme.

Borgata lawyers wrote in the documents, "Ivey's skill and success as a professional poker player are well documented. He is in the top 3 for poker winnings all time, and there is no suggestion that he cannot continue to be successful. Entrance fees for other tournaments are far less than $10,000 and one can play online poker with initial deposits of under $100. He is not in danger of being prevented from playing poker."

Lawyers also specified that Ivey had been participating in high-stakes poker tournaments quite recently, including the Triton Poker Super High Roller Series in May where he earned more than $2 million in just two Short Deck tournaments.

Even Ivey's success in cash games and tourneys does not necessarily equate to him being able to just hand over $10 million to cover his 2016 judgment, but the Borgata legal team states that there's no reason to think that had not planned ahead of time for the possibility that he might lose the case. The lawyers wrote, "As early as October 2012 (immediately after the fourth trip to Borgata, Ivey knew that his edge sorting scheme was unmasked, with Crockford's publically withholding about $12 million in alleged winnings. There is no indication that Ivey did not prudently sock away Borgata's $10 million, figuring that was the next shoe to drop."

Ivey and his companion Cheung Yin Sun won tens of millions of dollars at the Crockford's casino in London and at the Borgata in Atlantic City via the use of their edge sorting technique that involved taking note of minor defects in the back printing of the playing cards. By asking dealers to turn high cards at a specific angle, Ivey and Sun were able to gain significant advantage with their bets and beat the casino.

Since then Ivey lost a number of court cases over his winnings in both the United States and UK. The Borgata also sought financial justice by suing Gemaco, the card company that manufactured the somewhat defective cards. However, a judge determined back in March that while Gemaco's cards were indeed faulty, they were only liable for just $27, which is the value of the cards themselves.

Source:
https://www.pokernews.com/news/2018/08/phil-ivey-looks-to-delay-payment-to-borgata-31871.htm?itm_content=pn-hp-hero-4

 


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21 comments for "Phil Ivey attempts to Delay $10.1M Payment to Borgata from Edge Sorting Dispute"

 misteriopj8/24/2018 2:42:41 PM GMT
They are things that always happen, try to find the advantage to be able to beat the casino if the detail in the cards grabbed it, it was very well taken advantage of by Phil Ivey, until it was discovered and blaming the card factory is something that is not it seems to me that the casino staff should realize and verify that they have the best for that job, let's wait and see what happens and when it's time to pay Ivey
 Mober8/24/2018 5:19:51 PM GMT
What lame excuse they have given, in a try to avoid the penalty,
which is actually repaying the money back.
At the end, who cares if he has still a bankroll to play poker or not.
The ruling was guilty and he must pay no matter what, the whole sum for their unlawfully action. He should have thought at that in the first place, before going from one casino to another, trying to scam them.
Cause thats what it was at the end.
From the moment he conspired with someone else, to do the so called edge
shorting, he was scamming.
 pajalnick8/24/2018 9:34:24 PM GMT
how long this process lasts ... of course he does not want to part with such a large sum of money and in every possible way tries to avoid giving money .... but how it seems to me how much he would not be spending his time he will still have to return the money .... although I I think it's unfair Aww crap!
 vic758/25/2018 2:44:57 AM GMT
The problem here is that both casinos did not catch on to the cheating going on quick enough the dealer and pit boss have to be in control of the situation doesn't help if you keep replacing a defective pack of playing cards with more packs of defective playing cards. lol
 doubletop7778/25/2018 8:02:58 AM GMT
I cannot comprehend what it would be like to give back $10,000,000. Phil Ivey is undoubtedly a very wealthy man but this is going to take a huge chunk out of his net worth in my opinion
 pochui8/25/2018 12:08:13 PM GMT
ok I just wonder what happens if phil ivey posts that he has no money remaining in his accounts and has no real estate under his name... I mean it's 10 millions, why not try to keep it in all ways possible, better ay 1 million to top lawyers and financial consultants and keep 9 millions to yourself
 dule-vu8/25/2018 12:37:54 PM GMT
even if he give everything to mother or any other person,real estate,money,they will pay somehow this money!in future he will win money on tournaments and all of this money will be took from him right away till this 10,1 million!dont know who is right in this,but somebody will take money!
maybe would be better for him that he make some contract with this casino,to promote them or whatever and to pay this amount trough this way and everybody would be happy!
but if not,he will pay this amount,we all know how things work in america!
 CALICUL8/25/2018 5:42:35 PM GMT
Casino owners want to recover money from Phil Ivey but for now they try a decent method to succeed this thing. I'm sorry that this professional poker player has lost the process and now he has to pay a lot of money but casinos have made their rules and he was wrong when he cheated.
 pajalnick8/25/2018 10:54:46 PM GMT
Phil Ivey is certainly a man with a phenomenal memory ... remember the cards and use it against the casino of course very cool .... but I do not quite understand how this was learned in the casino? .... he himself admitted it? .... then he though and a phenomenon but all the same the donkey
 erru91078/25/2018 11:39:07 PM GMT
This is a really interesting case all together to be honest. You always hear about people being able to find a system or something else to get an edge on the casino to take home huge wins. This time it's within millions so it's a lot of money we're talking about.
 Mober8/26/2018 11:57:55 AM GMT
Stealing from a casino, not from breaking and entering, but with a scam,or card counting etc,
has never been successful.
You wont get away from them for too long.
Especially now with all the high tech surveillance equipment.
Silly move to try something like that in the first place.
Most of the casinos have probably better security, than a bank Smile
 dule-vu8/26/2018 1:44:48 PM GMT
if he really cheat on this things,that he knewt what will happen and that they knew everything what is happen at tables!if it was only couning of cards,then I dont see why is that against rules!he have memory to remember what cards are out and why he wouldnt use it!
 CALICUL8/26/2018 5:44:20 PM GMT
If i was in the place of Phil Ivey i try as many casinos as possible in many countries and cheated but a little. In this way, i would have made more than 10 millions dollars and chances to be caught were much smaller. He chose to go often in that place and casino owners became frustrated when they saw that Phil Ivey win big money. So they noticed and sued him.
 Gerimantas8/26/2018 6:47:07 PM GMT
Yes i think it is not good situation to phil ivey and he will havr to give money back to casino, of course it is very big amount of money 10 millions is nit money many people have, but i think phil ivey is very good ppayer and he wins many more money than this money he has to give back
 CALICUL8/27/2018 5:45:29 PM GMT
Is a very large amount of money for Phil Ivey, and it will be hard to pay that money, but in the end he will pay because is forced by the law. If he does not want to pay this money, then personal property will be confiscated or bank accounts blocked and it will be worse for him. He has nothing to do and will pay that amount.
 dule-vu8/27/2018 5:56:11 PM GMT
he will earn this amount in short time and for sure he can pay it now,but ofcourse nobody would like to transfer 10 millions to casino,but if this is what court say then he must pay,no matter who is right in this thing!he can take all of his money and go in some country,but then he will not back till death in america!
 CALICUL9/2/2018 6:46:09 PM GMT
Phil Ivey can deposit money in any bank in the world but they will be seized if he do not want to pay that amount of ten millions dollars. Is bound by law and it is better to pay this amount quickly, to have no problems with the law and even to get into jail.
 Gerimantas9/2/2018 7:33:31 PM GMT
I read about situation when phil ivey can use some techniques and try to not pay 10 million to casino, of course to have good lawyers manye it is chance, but i think he cannot play poker legal no more because he say he has no money's, so no buy in too, and wins get confiscated too
 OnedOutAK9/2/2018 7:46:06 PM GMT
Hmmm, ok, here is the thing about this case... I think these casinos are missing something else.... ok... why do I feel like someone else was profiting of these “edge sorting “ cases... why are the cards.. “somewhat defective” who else knew about these cards... this has a weird feeling about to it... anyways..
 dule-vu9/3/2018 11:01:26 AM GMT
I dont see why he cant play poker if he is out of money or all of money is on mothers account ot whatever!they can give him money for buy in at some tournament and he can play!same as some cash games on tv!its like your friend to give you money to gamble in casino!
 CALICUL9/3/2018 6:49:10 PM GMT
About “edge sorting “ and “somewhat defective“ there may have been accomplices of course but It's strange why the casino saw these things pretty late and after that they sued him on Phil Ivey. Is an interesting story in which, as we usually know, the casino win.

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