Friday, October 28, 2016

Judge: Poker Pro Phil Ivey Didn't Commit Fraud Against BorgataNO Deposit bonus $43

A federal judge on Friday ruled that poker legend Phil Ivey didn’t commit fraud against Borgata, but he did breach his contract with Atlantic City’s top grossing casino.

Ivey and playing partner Cheng Yin Sun won nearly $10 million from the casino in high-stakes baccarat sessions in 2012. The ruling didn’t say whether the 2 gamblers should return any of the cash to the casino.

Borgata has 20 days to stipulate its damages from those sessions. Ivey and Sun were capable of capitalize on manufacturing defects at the backs of the cards to achieve a small but significant edge at the casino.

The two never touched the cards, however the “edge sorting” technique is controversial. Ivey has maintained that it wasn’t cheating.

There were no criminal charges stemming from the sessions.

The breach of contract comes from the judge ruling that Ivey and Sun violated New Jersey gambling regulations by getting the higher hand in a game that may be presupposed to have a home advantage.

“The odds might be arrange to learn the ‘house,’ and the state will tax the revenue,” the judge wrote in his 30-page ruling. "In short, and by design, over the years every gambler who plays against the home will eventually bet—and lose—more than they win. Of course, some games allow for more skill than others and there's always lady luck. However the principle that the percentages are against you is literally true and at last wins out. That is something every gambler knows.”

U.S. District Court Judge Noel Hillman added: “Even though Ivey and Sun’s cunning and ability didn't break the principles of baccarat, what sets Ivey and Sun’s actions except deceitful maneuvers in other games is that those maneuvers broke the principles of gambling as defined on this state.”

After Borgata submits a proposed type of judgement, Ivey and Sun could have 20 days to file a response.

Ivey has won 10 World Series of Poker tournaments and may be a lock for the Poker Hall of Fame in 2017, after he turns 40 years old.

A similar edge sorting case in London went against Ivey and Sun. The 2 are appealing the ruling that said Crockfords Casino could keep the pair’s £7.8 million in winnings.



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