One finds limits by pushing them. —Herbert Simon |
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26th October 2017 | SHARE THIS | ||||
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The Story | |||||
The Britain’s Supreme Court upheld a lower court’s ruling that poker champion Phil Ivey and his buddy cheated to win £7.7 million in Punto Banco, a derivative of baccarat. |
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Tell me more about the UK Supreme Court’s decision. |
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The UK Supreme Court, through Supreme Court Judge Anthony Hughes, said Punto Banco‘s integrity lies on the cards being dealt at random—without the players knowing the cards’ face value. Ivey, however, took “positive steps to fix the deck,” which can be considered “inevitably cheating.” The court was unanimous in its decision against Ivey. |
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How did Ivey win the game? |
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Ivey won the money by edge sorting, which exploits a defect in the card manufacturing process to identify the face value of cards. On his part, Ivey said that what he did was completely legal. The crime was committed by him and his buddy Chen Yin Sun by playing Punto Banco at Crockford’s Casino in Mayfair, London in 2012. |
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There is someone who’s very happy about the decision. |
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Genting UK, which operates Crockfords, said that the Supreme Court ruling “vindicates” its decision not to award the money to Ivey. The lawyer who represented Crockfords even regarded the decision as “one of the most significant decisions in criminal law in a generation.” |
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Is this the end of Ivey’s legal woes? |
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Not quite. The poker player is also facing another suit filed by Borgata Hotel Casino & Spa. The said casino claimed that the $10.1 million in baccarat winnings that Ivey earlier earned was also due to edge sorting. |
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Takeaway |
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In gambling, it always pays to go legal and letting your luck decide your fate—or risk losing your winnings and your face. |
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Cyprus government commissions its first-ever gambling survey | |||||
The Cyprus government had commissioned a survey that will identify the extent of problem gambling in the Eastern Mediterranean island nation. |
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Portugal's online gambling market rebounds thanks to football, slots | |||||
Data from Portugal’s regulatory has shown that Portuguese-licensed online gambling operators generated combined revenue of €29.3m in the three months ending September 30. |
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Las Vegas Sands to spend $1.1b bringing London to Macau | |||||
Sands reported revenue of $3.2b in the three months ending September 30, up 7.7% from Q3 2016. |
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Rhode Island collects $457.20 per resident from gambling, surpassing even Nevada in its dependence on gambling on a per capita basis. |
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Doorway Page–A low-content page traditionally created expressly for the purpose of ranking on a search engine. Usually very keyword-heavy and user-hostile, most search engines now frown on these pages. |
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BtoBet's Chairman Alessandro Fried brings the “Technifying iGaming Tour 2017” to Germany |
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BtoBet is bringing the next European Technology iGaming Tour 2017 in Berlin. |
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Congratulations to the newly-appointed officers of Racing Post! Nikos Kryvossidis has been appointed as the new Chief Technology Officer (CTO) while Edgardo Savoy is the new Director of Software Engineering. |
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