Phil Ivey is considered to be one of the best professional poker players in the world. Unfortunately, he’s in hot water with the Borgata in Atlantic City. This popular casino recently took all of Ivey’s winnings from the recent World Series of Poker event in Las Vegas.
It’s disappointing news for the poker star. Let’s look at why the Borgata is taking his money.
Phil Ivey Caught Cheating at Major Casino
Phil Ivey is an American poker player from Riverside, California. He’s been competing in poker since the 1990s and has gained a status as one of the most talented players today. Ivey has already won 10 World Series of Poker bracelets during his career and was inducted into the Poker Hall of Fame in 2017.
Not everything is going well for Ivey, though. Despite a reported $26.3 million from professional poker, he’s been engaging in what’s known as baccarat “edge sorting” at one of the top casinos in the US. The Borgata alleges that in 2012, Ivey has used the banned strategy, which involves recognizing a slight flaw in the pattern of casino’s playing card, to win nearly $10 million.
This obviously didn’t sell well with officials at the Borgata. They sued Ivey, who claimed that what he did isn’t against the law, and instead proves that casinos have a flaw in this operating system. As you might expect, the courts sided with Borgata.
Interestingly, it’s not the first time that Ivey was caught using this strategy, in 2017, he lost £7.7 in a London casino for “edge sorting,” as well.
Phil Ivey is now forced to pay all of the money back to the Borgata in Atlantic City. The courts are also demanding that Ivey pay an additional $504,000 from the money that his accomplice made at the casino. Some of that money is already being paid back.
Borgata in Atlantic City Receives Ivey’s 2019 WSOP Winnings
With such a decorated poker career, there’s reason to believe that Phil Ivey has millions in the bank. According to Ivey, however, he has no money in his bank account. Borgata has been able to find one US bank account tied to Ivey, yet there’s no money in it.
It’s assumed that most of his money is located in bank accounts based outside the United States. Ivey is one of the heads of Virtue Poker, an online poker platform that uses blockchain technology to protect player’s winnings. It’s also possible that Ivey uses Bitcoin to hide his cash.
That isn’t stopping Borgata from getting their money back. The famous Atlantic City casino has officially seized the money that Ivey made during his run in the 50th World Series of Poker Event. Ivey managed to take 8th place during the event, taking in $124,410 for his efforts.
MGM Resorts quickly notified WSOP officials that the money was being taken away. They transferred the cash to the US Marshals Service, and later back to the Borgata in Atlantic City. Now he just needs to pay the additional $9,800,000 and all will be forgiven.
Online Poker Options Available in the US
It’s disappointing to see Phil Ivey in such hot water. Don’t be like him! More people are choosing to skip the trip to their local casino and instead are making their bets over the internet. Today, there are a huge number of amazing US casino websites that offer poker gaming options.
One of the most popular internet poker sites today is Bovada Casino. This website has grown extremely popular in the country thanks to its wide range of different games and safe payment options. Here, you can find all major forms of poker including Texas Hold’em, Omaha, and 3-card.
Bovada allows its deposits to be made using all major debit cards. Fees for these deposits are extremely low. This site only allows players to withdraw their winnings using Bitcoin. Fortunately for those new to Bitcoin, they offer an entire page that explains how to use cryptocurrencies to collect your winnings!
Borgata in Atlantic City is going to keep demanding that Ivey pay back the money he won. Whether or not the casino will actually receive this money is questionable. Make sure to stay tuned for updates on the situation over the next few months!