Tags: poker | star | 12 million | short | casino

Poker Star $12 Million Short After Casino Keeps Winnings

Image: Poker Star $12 Million Short After Casino Keeps Winnings

Monday, 13 May 2013 09:51 AM

By Alexandra Ward

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
U.S. poker star Phil Ivey has filed suit against Crockfords, claiming that Britain's oldest casino withheld close to $12 million in winnings from him, but the gambling house insists he cheated by reading the cards.

After a spectacular run playing punto banco, a baccarat game, last August at the Crockfords casino in Mayfair, London, Ivey racked up £7.6 million (U.S. $11.9 million). But the casino refused to pay, arguing that Ivey cheated.

"I was given a receipt for my winnings, but Crockfords has withheld payment," Ivey said in a statement. "I have no alternative but to take legal action."

Urgent: Is Obamacare Hurting Your Wallet? Vote in Poll

In punto banco, similar to blackjack, the idea is for a player to draw two or three cards with a sum total closer to nine than the dealer. At the August game in question, Ivey and an unidentified Chinese woman were playing alone against the dealer, in full view of 10 casino cameras. Ivey started his betting at £50,000 (about $77,000) per hand, and later raised that, with the casino's blessing, to £150,000 (about $230,000) per hand.

At one point, Ivey and the woman were as much as £500,000 ($770,000) in the red, but still somehow managed to come back to win millions. Ivey also persuaded the dealer to keep recycling the cards, instead of disposing of them after each hand, as per policy.

Crockfords is convinced Ivey was able to "read the cards" by spotting tiny imperfections on the backs, enabling him to identify when certain cards would be on the table.

The scam is similar to the one Warren Beatty used in the 1966 film "Kaleidoscope," where he starred as a playboy who breaks into a card manufacturer to mark the cards and then beat the bank at every European casino.

ALERT: Government ‘Blunder’ Spawns Massive Profit Opportunity

Ivey's companion is said to be banned from at least two casinos around the world after she reportedly won more than $1 million through a similar scheme in the U.S. in 2011. That casino also withheld the winnings in that case, a decision later upheld by the gaming commission.

Related stories:

'Sextortion' Prison Terms Meted 2 Hackers Who Threatened To Expose Poker Pro

Even as FBI Folds Online Poker, DC Offers Royal Flush

Online Poker Advocates Try Another Hand

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved