Poker Star Phil Ivey in $11.7 Million Dispute with UK Casino

Poker Star Phil Ivey in $11.7 Million Dispute with UK Casino

11 Oct 2012 | 12:12 Author: Seth Shafer

Phil Ivey is known for his poker prowess but he’s making headlines recently for a big win at Crockords casino that he’s yet to have been paid for.

Ivey turned up at Crockford’s (one of the largest casinos in the UK) in August ready to get his gamble on, having wired £1,000,000 to back his action on the tables.

While Ivey usually prefers to play craps this time he tried his luck at Punto Banco, a card game similar to baccarat.

Accompanied by a “beautiful Oriental woman” according to the Daily Mail, Ivey started out playing £50,000 per hand and was quickly stuck £500,000.

Ivey asked for permission to up the stakes to £150,000 per hand and casino management agreed.

Ivey then went on a heater to not just get back even but to eventually finish up his session £2.3 million ahead.

Like many gamblers Ivey was back at it the very next night, putting his winnings back in action looking for a bigger score.

Back for More the Next Night

That’s exactly what Ivey found, so it seemed, as the cards continued to treat him very, very well. Ivey hit for a total profit of £7.3 million before he and his companion finally called it quits.

This is where the story got even more interesting, as Crockford’s allowed Ivey to cash in his original £1 million stake but refused to pay him any of his winnings -- a nearly unheard of move in the world of high stakes gambling.

The casino claims that its investigation is still ongoing. Some have also pointed out that his beautiful companion has in the past been barred from numerous casinos in the UK.

Crockford’s is rumored to be closely examining all the dealers involved as well as security footage and other factors, with no timetable on when it plans to pay Ivey his winnings.

Ivey has racked up some huge gambling losses in the past -- including several million-dollar sports bets gone wrong as well as some epic losses at the craps tables -- so he’s no stranger to big wins and losses on the casino floor.

Follow Me On Google+

Let’s know more about Seth Shafer

Seth - The true Casino Diehard!

Free Roulette

Free Roulette

Free Roulette

The thrill of watching the spinning red and black Roulette wheel has long served to grip many avid gamblers around the g...

Play Now

Bonus Calculator

Play Blackjack

Free Blackjack

Free Blackjack

With its great payouts, easy-to implement strategy and simple rules, Blackjack has become one of the most popular casino...

Play Now