Phil Ivey takes $9.6M from casino being clever. Cacs mad and demand it back

[Arithmetic]

@cook (I'm not sure how it's wrong to post full articles if I link to the site....frankly isn't this what sites like Business Insider, Yahoo and Huff Post do?...whatever...below are relevant parts)

Washington Post: Famed poker pro with ‘remarkable’ $9.6 million scheme has to pay it back, judge rules

Given the opportunity to make massive amounts of money, casinos can be unusually accommodating to wealthy baccarat players. Ivey was able to use this to his advantage. In each of his visits to the Borgata, the casino accepted the same five requests. Ivey asked: that he play in a private area; that the dealer speak Mandarin Chinese; that he play with eight decks of purple Gemaco Borgata playing cards shuffled together; that the decks be shuffled with an automatic shuffler; and that Ivey would be allowed one guest at the table, a woman named Cheng Yin Sun.

Sun had spent, according to the New York Times magazine, hundreds of hours memorizing tiny flaws in purple Gemaco Borgata playing cards.

She discovered that patterns on card backs, designed to be symmetrical, were not perfectly so. Sun trained herself to identify aberrations along the left or right margins of the card backs, no wider than 1/32 of an inch, the Times reported. (“Sun’s mental acumen in distinguishing the minute differences in the patterns on the back of the playing cards is remarkable,” Hillman noted.) So prepared, she helped Ivey on his way to millions.

Ivey’s attorney Ed Jacobs emphasized that Hillman did not describe the poker player’s actions as fraud. “What this ruling says is a player is prohibited from combining his skill and intellect and visual acuity to beat the casino at its own game,” the lawyer said, according to the Associated Press. “The casino agreed to every single accommodation requested by Phil Ivey in his four visits because they were eager to try to win his money.” The gambler was only using observation, the defense went, and rotating the cards was within the rules of the game. Jacobs added Ivey will appeal the ruling.

As for the $250,000 worth of comped goods and services that Borgata gave to Ivey and Sun, Hillman concluded that they did not owe the casino restitution. “Because the ‘comps’ were not tied to an obligation that Ivey win or lose, or do anything in particular except to visit Borgata,” he wrote, “Borgata is not entitled to the return of the value of those ‘comps’ as part of its breach of contract damages.”

Phil Ivey the gawd.

 

[Maude]

Moderation moderation moderation

How are you smart enough to think of this great scheme. But not smart enough not to take the house for millions at a time. They could literally have just went to a different casino once a week. Took home 20K and lived the lifestyle. Stupid

it would have only worked at that casino because of the cards they used

 

[™BlackPearl The Empress™]

it would have only worked at that casino because of the cards they used

Then go to the same casino and tone it down.

 

[Maude]

They didn't lose 10 million in one day. Ivey and Sun won that amount over four visits to the casino.

i dont think anyone read the article before posting.

 

[jackswstd]

Like that casino wouldn't make back that 9 mil in a few hours by cacs blowing their life savings, and the kids college fund.

 

[lotteryplaya]

I used to play top chess players and they were super brilliant but therr was no money in chess.

At least in poker you can get rewarded for your mind. And poker you play against other people and not the casino. Thats the reason everyone migrated there after black jack flaws were figured out.
I'm a fan of poker. More intelligent blacks should learn it as s way to make a living

This. Also some top poker players who are great at math got into daily fantasy sports and are winning big. Some even stopped playing live poker because they can legally win big money online with dfs.

 

[Blackrogue]

Moderation moderation moderation

How are you smart enough to think of this great scheme. But not smart enough not to take the house for millions at a time. They could literally have just went to a different casino once a week. Took home 20K and lived the lifestyle. Stupid

20k. Is less than a house game to. phil ivey. He gets a Lady brilliant enough to master the miniscule details of a certain pack and you want them to do 20k a pop and they are high rollers? Theyd have to do it 450 times to make what they made in four tries that could have been dismissed as a fluke

 

[NoChillJones]

How did he get caught though?........never mind.........greed is a muthafukka

 

[cdc]

I'm blaming Cheng Yin Sun (aka @awkwardblackgirl). Won 9.6 million and probably only offered to give back the $50 he gave her to buy in.

 

[Blackrogue]

Wtf is baccarat?

What a crip calls the baccside of a rat...

 

[Remote]

What a crip calls the baccside of a rat...

 

[™BlackPearl The Empress™]

20k. Is less than a house game to. phil ivey. He gets a Lady brilliant enough to master the miniscule details of a certain pack and you want them to do 20k a pop and they are high rollers? Theyd have to do it 450 times to make what they made in four tries that could have been dismissed as a fluke

This point has literally been addressed like 5X.

 

[1thouwow]

Apparently they did the same thing at another casino in England and they flat out refused to pay them and had them take it to court(guess who won).

Who won

 

[Blackrogue]

Why is counting cards illegal?

Do Casinos just want you to go in there drunk as fucc and mindlessly blow money or something?

Back when the MIT students used to play as a team they weighed values for cards and played accordingly.

The theory was this. Imagine a bowl with ten red balls and ten blue ones. You get blind folded and you need to pick a blue ball. Your chances are 10/20or 50 percent. But if the setup remains intact and you keep picking red balls and betting and losing. The volume of blue balls is high. So as that increases you increase your bet.. And minimize bets as the odds are not in your favour. Roulette had a similar concept with the reverse leboucherie.

In black jack dealers were under mechanical instruction on when to hit or not hit.. Around 17 or 18 value. Many cards were a value of ten.. A, 10, K, J, Q.. So when a high volume of them was present it was easy for the dealer to bust. They ended up adding more decks and reshuffling within those decks to make sure no Imbalance existed.
Roulette added the zero and double zero to make your chances less than 50 percent. Poker was the game you could plays drunk tourists or rich people who were more risk prone. Your goal was to make money. Pick victims and not be about proving your talent but be about earning where you are certain. Poker isn't a gamble. You can practice and be consistently good at it. I use the rule of four and two to calculate odds roughly. But i want to make it more dynamic and weighted according to how the table behaves what my starting hands and actions will be.

 

[Blackrogue]

This point has literally been addressed like 5X.

Think i was gonna read the whole thread before i responded? I saw your post and spoke and later saw people felt the same