The previous couple of weeks have been presumably the primary time Phil Ivey has breathed a sigh of aid relatively than exasperation for a very long time, the legendary poker participant profitable near a $million on the WSOP Europe. The previous few years, and even months, nonetheless, haven’t been sort to the 42-year outdated – and right here is why…
By: Andrew Burnett
Take a time-machine again to April 2011, a date that appears set to dominate poker historical past without end, and Phil Ivey was on high of the world.
With $15million+ in stay match earnings, near $20million in on-line winnings on Full Tilt and a stake within the firm, Ivey was thought-about poker’s GOAT in nearly each respect.
Eight WSOP gold bracelets studded his resume and the earlier summer time he topped a public ballot for the Match of Champions, forward of fellow legends Daniel Negreanu, Doyle Brunson and Phil Hellmuth.
Ivey was, to coin a phrase, on high of the poker world. A reputed $100million fortune, the face of poker and the biggest poker face recognized to the sport.
Quick-forward virtually a decade, nonetheless, and Ivey’s fortunes have turned the other way up.
A expensive divorce, prolonged and unsuccessful authorized proceedings in two international locations, a ‘mere’ two extra WSOP bracelets, years within the ‘wilderness’ and information that he’s now being staked for the very best buy-in occasions.
A Pricey Divorce
A seemingly amicable, although costly cut up from his childhood sweetheart Luciaetta in 2009 was revisited after Black Friday. Large alimony funds of $180,000 monthly could have appeared like pocket change whereas the Full Tilt cash was flowing, however nothing lasts without end.
Ivey had assumed $15.1 million in “playing and different debt” throughout the divorce, his ex-wife given thousands and thousands in jewelry and property over-and-above the month-to-month stipend.
Ivey’s Baccarat edge Backfires
Whereas a few of his poker earnings could have been minimize off, Ivey was nonetheless crushing the stay tournaments, large wins on the 2012 Aussie Hundreds of thousands and the next 12 months in Macau, with first rate WSOP cashes inbetween.
It was on the gaming tables that Ivey actually crushed it, nonetheless, his edge-sorting method resulting in $10million Punto Banco wins in each London and Atlantic Metropolis. The superb runs would, nonetheless, return to hang-out him to this very day.
London’s Crockfords On line casino refused to pay out, whereas the Borgata launched authorized motion to get better their $10million.
A number of and vastly costly trials on each side of the Atlantic adopted, Ivey shedding each single battle regardless of the ‘public’ seeing it as a gambler rightly sticking it to the on line casino after discovering an edge.
Three years within the Wilderness
Whereas the authorized wrangles grinded slowly, for over three years between 2015 and 2018 Ivey averted the very tournaments he had as soon as crushed.
Within the meantime, he performed the greatest money video games in Macau, however discovered time to chuck virtually $2.5million right into a PokerStars black gap on-line.
Throw in one other $6.32million loss on his post-Black Friday Full Tilt account ‘Polarizing’ and the web sport had simply taken again half of Ivey’s outstanding profitable run.
There’s no understanding how a lot Ivey received or misplaced within the nosebleed Asian money video games, in fact, and also you’d assume he’d have an enormous edge over even one of the best of the ‘whales’, however even one downswing at that stage may imply a number of $thousands and thousands misplaced to the east winds.
That brings Ivey’s story as much as current instances, reappearing finally 12 months’s Triton Poker Montenegro sequence and touchdown a couple of large paydays, with a temporary sorte to the WSOP.
The Borgata Bombshell
Nonetheless, by this time the Borgata have been eyeing up no matter remained of Ivey’s wealth, and by the flip of the 12 months that they had been allowed to chase the legend into Nevada, after turning up empty-handed in New Jersey.
“Ivey’s holdings have been estimated at $100 million, and the above reveals these holdings, at the least these which can be ascertainable, are primarily based in Nevada,” was the official authorized line.
What that meant for Ivey in observe shocked the complete poker world.
This summer time’s WSOP noticed Ivey money for over $120okay within the PPC, however legal professionals for the on line casino group turned to the Rio, writ in hand, and Ivey hasn’t seen a penny of his cash.
Staked by Jungleman?
Stranger nonetheless was what adopted, with Dan ‘Jungleman’ Cates and Ilya Trincher submitting their very own authorized declare that that they had totally backed Ivey for his WSOP run, and have been thus due a piece of the money.
Whatever the consequence of the case, if true and since Ivey couldn’t fund his personal buy-ins, it could be an unimaginable low level for him.
Lately, enormous Kings On line casino money got here from a €100okay buy-in. Ivey’s winnings are protected from any Borgata ambulance-chasing, however then once more, in mild of his WSOP staking we don’t know the way a lot of it belongs to Phil.
There’s one factor that’s sure…Phil Ivey stays a legend, and there are many individuals internationally keen to stake their reputations and cash on him bouncing again from a decade he’d a lot relatively overlook.