Phil Ivey Ultimately Unsuccessful In Bid To Reclaim £7.7 Million

Published on October 25th, 2017 8:55 pm EST

The Phil Ivey vs Crockfords Club court case has now come to an end, with Phil Ivey ultimately losing out.

Earlier today, the Supreme Court of the United Kingdom ruled unanimously to uphold a Court of Appeal judgement that allowed Crockfords Club to keep £7.7 million of Ivey's Punto Banco earnings. The Supreme Court was ultimately Ivey's last hope, and his case against Crockfords is now lost.

In 2012, Ivey and an associate, Cheung Yin Sun, stepped into Crockfords to play punto banco. Using "edge sorting", the duo were able to turn Ivey's initial £1 million stake into a profit of £7.7 million. Ivey cashed out and asked that his stake and the £7.7 million profit be wired to his account.

Crockfords was suspicious of the victory and ended up conducting an investigation. In the end, they found that Ivey and his associate had used "edge sorting" to gain an advantage over their casino and elected not to pay Ivey his £7.7 million in winnings. Ivey felt that he was rightfully owed the money, and a long, drawn-out court battle between the two sides ensued.

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"Edge sorting" occurs when you use improperly cut cards to gain an advantage over the casino.

By asking that certain asymmetrical cards be turned 180 degrees, Ivey and his associate were able to increase their odds of winning by knowing when face-down cards contained a certain grouping of cards. Certain cards hold enormous importance in Punto Banco, and Ivey and his associate were able to increase their odds of winning by taking advantage of improperly cut cards.

Ivey admitted that he had used improperly cut cards to gain an advantage over the casino, though he maintained that he did not cheat. Ivey argued that he did nothing wrong and that the casino and the card manufacturer were to blame.

In the end, the Supreme Court noted that Ivey had staged a "carefully planned and executed sting" against Crockfords and was not entitled to his winnings.

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In the end, Ivey's court cases against both Crockfords and the Borgata have proven to be unsuccessful. These two unsuccessful court cases have resulted in Ivey's net worth dropping by roughly $20 million, as well as the untold millions he likely spent on top legal representation over the past five years.

Source: BBC.com - Poker Player Phil Ivey Loses £7.7m Casino Case

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