Phil Ivey Beats the casino for over 20 million Dollars playing Baccarat

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I've been very blessed with a with a great life I mean poker has blessed me with amazing things I wouldn't trade my life and for anyone's I've been really really lucky phil ivey maybe the greatest poker player in the world and is worth millions it has a mess he plays or wagers on just about anything from golf and basketball to craps and baccarat I know him to be a sharp you know him to be a sharp he's a very sharp player he's a guy you just don't want in your joint he's very very smart and very very intense as we saw firsthand when we asked him about accusations that he cheated two casinos out of over 20 million dollars in the secretive world of high-stakes gambling phil ivey is the highest of rollers he's young handsome rich and very private he rarely gives interviews poker is his game of choice and after winning his tenth career championship bracelet at the World Series of Poker this summer he is arguably the best in the world but Ida plays other casino games as well and his success at the game of baccarat has led to allegations of cheating and lawsuits with two of the largest casinos in the world which is why he has decided to break his silence and speak out now to 60 minutes sports Ivy is known for his incredible intensity at the poker table and was no surprise that he had the same focus in our interview as the biggest name in gambling he is facing the biggest challenge of a career that has always had the Midas touch I've been very blessed with a with a great life I mean poker has blessed me with amazing things I won't trade my life and for anyone I've been really really lucky it's a typical day for phil ivey he hops into his rolls-royce for the drive from his home to the Las Vegas Strip 20 minutes later the best poker player in the world is ushered through the back entrance of the casino because if he went through the front door he would be mobbed by fans just ready to go mm-hmm try to get that first hand in there just get it on huh get this get this crying going and then into his sanctuary a packed ballroom where he will compete in the World Series of Poker my hands a mess ideas settling in for another 14-hour day of Poker in the annual seven-week tournament it's a routine he has mastered for most of his adult life when did you realize you were good I realized I was good at poker somewhere around 16 or 17 but I figured out that I could be really good at it when I was I would say 21 I he grew up a world away from his home overlooking the Las Vegas Strip in the working-class town of Roselle New Jersey he was part of a large close-knit family headed by his grandfather everybody always wants my grandfather they ever need anything needed money needed help need someone to talk to he had his own business I learned a lot for him he learned a lot indeed his grandfather introduced him to poker at the age of eight after Ivey accidentally walked into a private game in the backroom of his local barbershop saw some guys back there with cars they were smoking cigars playing poker to have money on the table so I told my grandfather I said what what are they doing so they were playing poker I said can you teach me how to do that teach me how to play so we got the penny jar out he showed me how to play the first game I played was five-card stud Ivey became obsessed with gambling and soon as a young high schooler he was heading down to Atlantic City on the weekends I was 15 16 somewhere around there and you're supposed to be held 21 and I'm not encouraging this but I got a hold of a fake ID and I started playing down there in a casino I would take a bus down playing in different casinos play blackjack play craps and play poker and you know mostly loose I'll build up some money out of job and McDonald's win some money go down in the weekends play lose my money and go back in to go to work again IV went by the name Jerome and it became known in Atlantic City as the black kid who played poker all day long after he graduated high school gambling became his full-time passion much to his parents chagrin they hated it you know they didn't want me playing poker you know they wanted me to go to college and go that direction of life but you know I love to play poker I still do is something I just was attracted to from the very beginning and that's all I wanted to do and that's all I did I play poker 15 16 hours a day for like ten years phil ivey shot to international fame by 25 he won four World Series of Poker bracelets by 30 he became a brand with lots of endorsements and today at 37 he resides on top of the gambling world with homes in Las Vegas Cabo San Lucas and Macau coin a phrase young you gifted your black highly-successful the whole nine yards has raced been a factor at all ah as race benefactor no not in poker and poker they only see one color s green according to a website that tracks poker earnings Phil Ivey has won over 21 million dollars in official poker tournaments during his career of course that does not include earnings from various side bets private games endorsements and investments for Phil Ivey it's good to be Phil Ivey but right now Ivy is facing the biggest challenge of his career the game in question is baccarat a game made famous in James Bond movies I admire your luck Mr Bond James Bond similar to blackjack the goal is to get to nine instead of 21 two casinos accuse Ivey of cheating them out of over 20 million dollars while playing baccarat once you get cheater next to your name especially in in my business which is the business of gambling it's really bad you know I mean this is about that's the worst thing that you could be labeled as and casinos have a tendency to label cheater they take cheating and advantage play as the same thing when it's a big big difference advantage play is the term for any number of strategies used by players to exploit weaknesses in the house it is an accepted practice among gamblers but discouraged by casinos Phil Ivey says he did nothing wrong but his accusers say he did and are two of the largest casinos in the world the Borgata in Atlantic City and Crawford's in London at the Borgata Ivey won nine point six million dollars while playing baccarat over four months in 2012 over the course of two days in August of that year Ivy won over seven and a half million pounds for about 12 million dollars at Crocker's the Borgata paid Ivey but is now suing to get its money back Crawford's withheld Ivy's winnings and he is suing them in a British Court they spend millions and millions and dollars on game protection and it's their job to protect their game and I'm viewing the casino as my opponent it's my job to try to exploit weaknesses in house and try to give myself the best opportunity to win we asked for interviews with both casinos but they turned us down citing the ongoing legal cases but a look at the lawsuits show that both casinos accuse Ivey of something called edge sorting an old but sophisticated way are reading the back of the cars in high-stakes gambling edge sorting is not illegal but casinos have the right to ban people known as advantage players because of their skill I wouldn't let Phil Ivey play slots in a place I was working on you would let him play oh no Jim Hartley is a gambling expert with over 25 years of experience helping Las Vegas casinos protect themselves against cheats and advantage players alike edge sorting is simply taking advantage of imperfectly cut casino cards the quote imperfection is right along here here's how it works during the production process of cutting casino cards the cuts of the edges are not identical making it possible for a trained eye to identify certain cards by their edge designs edge sorting is not easy it's difficult not easy it's not easy even for the advantage place even for the advantage player Hartley says the casinos have a complicated relationship with high rollers like Phil Ivey the casino grants the player certain privileges and the player agrees to make large bets each side is looking to take the others money that's what they do so if you come in and we say Oh we'd love to have you gamble in our casino man you're on TV would be awesome we'll give you a suite and you know we'll pick up at the airport and your rooms food beverage everything's on us here's tickets to the fight this weekend but we want you to put you know you got to play blackjack you got about five thousand dollars a hand you got to play twenty hours in Phil I these cases he anteed up big dollars to play baccarat how much money did you wire to croc routes in London I wire 1 million pounds and to the Borgata in Atlantic City three million u.s. a significant amount of money that's correct that was one of the reasons why they grant it there all the requests that I made because I wire the money upfront and they knew they had an opportunity to win you know a decent amount of money phil ivey readily admits to edge sorting but it's the request that he made in both casinos there are at the crux of the cases he asked for several conditions that would enable him to read the back of the cards better including using a specific brand of cards and playing with the same decks of cards for all of his games I made a request for a shuffle machine ok why did you want that particular supplement because I wanted the cards to remain in a certain order and they agreed to that and they agree to that yes second request I requested an Asian dealer and the reason you wanted an Asian dealer Asians deal punto banco the most which is baccarat I felt more comfortable with the Asian dealer my companion was Asian and your companion you mentioned was Asian and the reason that was important to you because she was a part of my strategy she was a part of my strategy and able and and giving me the ability to to execute this advantage play of mine and she could communicate I'm assuming with the dealer as well too who spoke Mandarin sure and the casino agreed to these requests the casinos agreed to every request made in both lawsuits the casinos mention IV's Asian companion her name is Chen Yin son she is a known advantage player who has been banned from other casinos in the past because of her expertise in edge sorting the Borgata and Crawford's claim son spoke in Mandarin to the dealers and instructed them to turn cards so that she and Ivey could identify them they don't like the way she plays it's a competitive business they don't want you coming in there winning their money they want to win just like I do so if you're an advantage player just like your card counting they asked you not to play so casinos have that right to say you can't play in our DNA they have the right to say we don't want your business but they did not say that at Crockford so about your companion ms son no they allowed her to play nor at the Borgata in Atlantic City North iboga they agreed again to all of your requests again they agree to all my requests so fill in your mind how much of an advantage did your successful effort at edge sorting give you I had somewhere around a 5 or 6% of vanish I guess what I still could have lost but in all fairness to be to be candid about it even the slightest advantage to someone with your skill level can be pretty significant sure sure and that's why I was in there and in the thing with Phil is I know him to be a sharp you know him to be a sharp he's a very sharp player he's a guy you just don't want in your joint he's very very smart and you know he's got in that period both casinos alleged I be was not forthright in his reasons for making the request and say that he led them to believe the requests were based on superstition but still alive he maintains did nothing wrong if I make a request and the house grants it and how could that be cheating you know that's me making a request to give myself an advantage you granting it saying it's okay the casinos are saying that there is an implied contract an agreement between the player the event is player you in the house that you're going to play by fair rules and that the fact that you did not divulge that the cards had a defect in effect was illegal improper you broke that implied contractual agreement I disagree and that's why and that's why we're going to court cheating is using a device or using uh having information available that both parties aren't privy to then that could be considered cheating but having an advantage over casino like such as card counting or edge sorting or a sequencing it's a perfectly legal play I haven't found one expert not one expert that hasn't said that what I did was perfectly legal we contacted several game protection experts for interviews but most declined claiming conflicts of interest with international casinos they work for Jim Hartley was the only expert to talk to us on camera he agrees with Ivey and says the Borgata and Crocker's have no one to blame but themselves he made him look bad you know he played him for a chump um you know and they looked at it they said oh shit what are we gonna do you know so they went back after them on because Phil Ivey is maintaining he did absolutely nothing wrong that his requests were part of his advantage play strategy correct sound reasons it's exactly what it was so at the end of the day the Phil Ivey do anything illegal in your mind did the New Jersey State Police arrest him no no they did not so my answer is the same as the New Jersey State Police I do not believe that that was cheating he did not alter the elements a chance he didn't alter his wager he didn't mark the cards he did not physically do anything they did it for him okay and that's the way most scams work right now some people might react adversely to the to the use of the word scam yeah yeah that's aI don't consider the word scam bad at the heart of the matter is where the film Ivy's scam is cheating or Fairplay Ivy is waiting for a New Jersey judge to decide on the Borgata suit and this month his case against Crawford is being heard in a London Court he could lose his money and his reputation some people believe that it was cheating I know it wasn't the professional gamblers no it's not I wouldn't do anything close to cheating I mean my reputation is everything and gambling to risk my reputation over winning some money I will not do that the end of the day in your mind you did absolutely nothing wrong nothing illegal absolutely 100% I did nothing wrong nothing illegal you

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Channel: Jay Silva

Views: 6,445,084

Rating: 4.6753311 out of 5

Keywords: PHIL IVEY, BACCARAT JAY, LUCKY ANDY, LUKY ANDY, BACCARATKO.COM, BACCARATKO, NOR BACCARAT, MDB BACCARAT, GAMBLERS BOOKCASE

Id: YSPD1iWcyYY

Channel Id: undefined

Length: 16min 32sec (992 seconds)

Published: Sun Jan 10 2016

Reddit Comments

This seems like such bull shit on the casino's part. I don't know how any casino could grant his requests without knowing what he was trying to do and even if they didn't, I would hope they wouldn't be so stupid that it would take them 4 months to realize what he was doing. Also the casinos being upset that someone didn't play by fair rules when almost every game is in their favor, c'mon man. Seems like they just thought he wouldn't be able to pull it off.

👍︎︎ 5 👤︎︎ u/umbassa 📅︎︎ Nov 12 2016 🗫︎ replies

Ivey also lost the Borgata suit. He was found guilty of cheating but not fraud and Borgata is asking for $15.5M which includes 'expected earnings' based on a 1% win rate

The drama is far from over for Phil Ivey as Borgata wants the poker superstar to pay $10.1 million in restitution and another $5.4 million in “expectation damages” following a ruling last month by a federal judge that Ivey “broke the rules of gambling as defined in [New Jersey]” when winning $10 million from the Borgata at the game of Baccarat in 2012.

👍︎︎ 5 👤︎︎ u/jakblak90 📅︎︎ Nov 12 2016 🗫︎ replies

Casinos, gambling and gamblers. It's all so classy. /s

👍︎︎ 1 👤︎︎ u/ComplexLittlePirate 📅︎︎ Nov 13 2016 🗫︎ replies

Casino loses --> creates lawsuit against player
Casino wins --> do nothing

hmmmmm...

👍︎︎ 1 👤︎︎ u/[deleted] 📅︎︎ Nov 13 2016 🗫︎ replies