Re:Borgata casino lawsuit: Phil Ivey cheated, won $9.6M?
by Sambdala on Sunday April 13, 2014 @08:12AM
(#7581075)
A friend of his has claimed privately that he takes advantage of specific lossback deals that certain casinos give certain high rollers, and this gives him a positive expectation at craps at least some of the time.
However, it's hard to know how much truth there is to that.
Re:Borgata casino lawsuit: Phil Ivey cheated, won $9.6M?
by parasubvert on Sunday April 13, 2014 @08:27AM
(#7581108)
This is likely true considering how low the house edge is on both Baccarat (1.06% on the banker) and basic craps (don't) pass/come with full 3-4-5 odds (around 0.37%) [1]
Any small positive edge in lossback, card or dice placement will lead to advantage. Some of them can't do math as well as others, apparently. This is how Don Johnson (not the actor) broke a few casinos several years back, including - surprise! - Borgata. [2]
[1] http://wizardofodds.com/gambling/house-edge/ [2] http://m.theatlantic.com/magazine/archive/2012/04/the-man-wh...
Re:Borgata casino lawsuit: Phil Ivey cheated, won $9.6M?
by tehwebguy on Sunday April 13, 2014 @07:26AM
(#7580990)
degen?
Re:Borgata casino lawsuit: Phil Ivey cheated, won $9.6M?
by baha_man on Sunday April 13, 2014 @07:45AM
(#7581029)
http://www.floattheturn.com/dictionary.php?word=d&page=3
"Degenerate, often simply 'degen,' is a well-known appelation for players who behave in a self-destructive manner away from the poker table."
It wouldn't surprise me if he was simply playing Baccarat genuinely, noticed the possibility for edge sorting, and went for it, then looked for other casinos that had the same problem.