Give me my money!

[saleen836]

I bet they wouldn't have complained if he lost that much!

http://www.dailymail.co.uk/news/article-2213888/Pu...

[Tycho]

daily mail said:

Although he is a respected figure in the poker world, casinos regard him as a ‘hit and run’ gambler, with a tendency to ‘quit after just a few hands if he wins big’.

So he's supposed to stay and loose it all then? The casino seem like sore losers TBH.

[Adrian W]

They should be shut down and fined, they can't prove he cheated,

[Steameh]

As has been said, would they have allowed an investigation had he lost his £1million stake? I doubt it.

[Jasandjules]

Adrian W said:

They should be shut down and fined, they can't prove he cheated,

Exactly.

Though I hope that other players will now go elsewhere for fear of being treated the same. It's funny how they don't complain when people lose a lot of money....

[NoNeed]

Isn't that the same place that Mike Ashley lost £5 million in a single night? I dont recalk him refusing to pay and jolding an investigation.

[CBR JGWRR]

Tycho said:

daily mail said:

Although he is a respected figure in the poker world, casinos regard him as a ‘hit and run’ gambler, with a tendency to ‘quit after just a few hands if he wins big’.

So he's supposed to stay and loose it all then? The casino seem like sore losers TBH.

I thought thatwas the whole point?

Get in there, win a bit, and quit while you are ahead...

[Jasandjules]

CBR JGWRR said:

I thought thatwas the whole point?

Get in there, win a bit, and quit while you are ahead...

Funny I had the same thought........

[strudel]

This bet?

http://www.telegraph.co.uk/finance/newsbysector/ba...

[Rouleur]

Playin' it cool...

Article said:

His mother, Pamela Ivey, who lives in Las Vegas, said: ‘He never mentioned it. It can’t have been very important to him, or I think he’d have mentioned it.’

[madala]

If he was playing up to £150K a hand that sort of win at Punto Banco would not be unusual and the only real way to cheat at P.B. is collusion with the staff which would involve using a fixed deck and that would only be a one hit shoe and that seems to have been ruled out so as far as I can see he should be paid and I think the Gamming Board will take a very dim view of the Casino refusing to pay the man.

Edited by madala on Monday 8th October 09:07

[fido]

A bit of good ol' Daily Mail racism in that article .. so he turns up with a 'beautiful Oriental lady' - must be a bit shifty then? No doubt his bodyguard was a midget with a sharp flying hat.

As for the casino - liquid nitrogen cocktails for the lot of them.

[fido]

anonymous said:

[redacted]

Seeing as the management 1. allowed him to increase his stake to £150,000 2. let him play on for a second day - it does seem a bit dastardly not to pay out.

[Ozzie Osmond]

Roulette - you lose slowly. The casino takes, on average, around 2% of each bet.

Punto Banco - you should lose a little more slowly. The casino takes around 1.2%.

Craps - depending how you bet the casino can be taking as much a 5%! Check the rules before playing!

Blackjack - If you want to have fun gambling, learn to play Blackjack and only drop about 1%.


Mr Ivey is either extraordinarily lucky, or isn't.....

PS The punters aren't supposed to win. Or at least, they're only supposed to win enough to encourage other suckers into the game.

[joe_90]

bbc said:

Mr Ivey, who once picked up £10 million in a poker tournament in Las Vegas, was playing in a small private room on the ground floor of Crockfords.

He sat next to his companion.

The only other people in the room were the croupier and an inspector.

All the action was recorded on ten cameras.

Just pay the man.

Hit and run = Hes not stupid.. You win a big a few times, you walk away.

Edited by joe_90 on Monday 8th October 11:24

[ofcorsa]

With games of luck like these. Surely the skill is knowing when to leave. Seems like sour grapes from casinos to label him "Hit and Run"

[retrobob]

He has a Wiki page >

http://en.wikipedia.org/wiki/Phil_Ivey

[SpeckledJim]

coyft said:

Ozzie Osmond said:

Roulette - you lose slowly. The casino takes, on average, around 2% of each bet.

Punto Banco - you should lose a little more slowly. The casino takes around 1.2%.

Craps - depending how you bet the casino can be taking as much a 5%! Check the rules before playing!

Blackjack - If you want to have fun gambling, learn to play Blackjack and only drop about 1%.


Mr Ivey is either extraordinarily lucky, or isn't.....

PS The punters aren't supposed to win. Or at least, they're only supposed to win enough to encourage other suckers into the game.

You seem to be saying he must have cheated is extraordinarily lucky, in order to come to that conclusion you would have needed to have calculated the odds.

£150k a hand, 1.2% advantage to the house, so what are the odds of ending up £7m. Please share your calculation.

Don't know about punto banco, but if you were playing roulette, putting £150k on a single number each spin, you'd only need to be right twice in 20 hands to walk away £8.1m up.

In 20 spins you have about 60% chance of getting it right once. Getting it right twice would be about 60% multiplied by 60% - so about 36%.

Of course, if you don't win at all, which has a c.40% chance, you leave £3m down. If you only win once, you walk out £2.55m up.

(this is miles off, isn't it!?)

[anonymous-user]

Ivey is a huge player in cash games in the Poker world and generally will bet anything that moves.

[Ozzie Osmond]

coyft said:

£150k a hand, 1.2% advantage to the house, so what are the odds of ending up £7m. Please share your calculation.

It's not complicated.

Stake £150k. A win will return the stake and add £150k (i.e. ususlly 1:1)

£7m / £150k = 46 wins needed.

The odds when you toss a coin and call heads or tails are 0.5 or 50%. The odds in Punto Banco are a bit less favourable at around 0.45

The chances of five wins are 0.45 x 0.45 x 0.45 x 0.45 x 0.45 = 0.0184, or about one chance in 50

but we need to win another 41 games as well!! The chances of 46 wins are for all practical purposes zero.