Phil Ivey wins £8M playing Punto Banco
The poker pro admits to “edge sorting” and continues to sue
Phil Ivey is considered by many as the best poker player in the world and he certainly has the trophies to prove it, with over $30 million in live poker earnings. He is one of the most iconic figures in the world of high stakes poker and has been working on a site to help poker players get better and play the game “the right way”.
Although the online poker 2013 stats show that Ivey has been losing over $3 million while playing on Full Tilt Poker this year, it is still a small drop in the bucket for the poker pro and gambling enthusiast. Known as a regular figure in the world’s most luxurious casinos and a very high roller, Phil Ivey enjoys a variety of casino games and is pretty much willing to bet on anything.
Last year, Ivey won £7.8 million ($12.1 million) while playing the Punto Banco version of Baccarat in London, at the Crockford club. The casino refused to pay him his winnings and accused him and his Chinese associate of cheating. Ivey then took matters to court and new information has just been made available as Phil Ivey admits to using a technique known as “edge sorting” in order to turn the odds in his favor and clean out the casino for over $12 million.
The two played the game and constantly asked the dealer to change decks until they noticed that one of them was flawed. According to the reports released over the weekend regarding the case, Ivey was able to read the cards since one of the long edges was longer than the other; a mistake that took place during the manufacturing process.
After the two became familiar with the flaw and marked out the cards, they asked to play for a higher limit and went on to win big. Despite admitting to using this technique, Ivey claims he is not guilty and that this is the fault of the casino, which should have noticed the flawed deck earlier. He claims that he simply took advantage of the situation and that the money should be granted to him. The casino gave back the initial £1 million he started with and a receipt for his winnings. The result of the case will determine which party is right and which has to pay.
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