One finds limits by pushing them.
Herbert Simon
26th October 2017  
 
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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.

 

Tell me more about the UK Supreme Court’s decision.

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.

 

How did Ivey win the game?

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.

 

There is someone who’s very happy about the decision.

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.”

 

Is this the end of Ivey’s legal woes?

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.

 

Takeaway

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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