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Dispute over Phil Ivey edge-sorting Technique

Sunday October 5,2014 :  IVEY TECHNIQUES UNDER FIRE (Update)

Dispute over legality of “edge-sorting” technique

Phil Ivey is under the spotlight as he fights to defend his reputation and recoup winnings of around GBP 7 million from Genting UK’s upmarket Crockfords Club casino before a British High Court.

Ivey has admitted to using an edge-sorting technique while  playing a version of baccarat called Punto Banco but firmly stands on his belief that the practice is legal, however, Crockfords says “Ivey’s conduct defeated the premise of the game”.

Ivey was shown the technique by Cheung Yin Sun (Kelly), a friend who accompanied and assisted him at the Mayfair casino in August 2012 over a two-day period.

Promising to wire Ivey his winnings, Crockfords Club retained the GBP 7 million but returned his GBP 1 million stake saying the winnings were retained because the professional gambler had cheated.

"I am highly successful in my job as a poker player and professional gambler and I would never do anything to risk my reputation,” Ivey told the court last week.

"My integrity is infinitely more important to me than a big win, which is why I have brought these proceedings to demonstrate that I have been unjustly treated.”

Ivey also told the court he would consider it as not having done his job as a professional gambler by failing to use weaknesses he identifies in the way casinos set up or offer particular casino games.

"I use a variety of strategies whilst playing in casinos. No system is fail-safe and each time I play I risk failing to execute the strategy properly - some of these are very complex or difficult to execute - which usually results in me losing a lot of money.”

The Borgata Hotel, Casino & Spa (Borgata AC) will be watching proceedings with interest, as they too have filed suit against Ivey for using the technique. 

Borgata AC wants a whopping $9.6 million in winnings back from Ivey who won the money playing Punto Banco in 2013. 

The casino claims Ivey used the same edge-sorting technique while accompanied by Cheung Yin Sun.  Sun is also named in the suit.

Ivey is set to appear on a 60 Minutes Sports programme with interviewer James Brown in which he will reportedly explain his innocence.  The show is set to air on October 7, 2014.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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