The $20 Million Phil Ivey Baccarat "Cheating" Scandal/What Happened in "The Baccarat Machine" Case?
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Watch American Casino Guide Video: The $20 Million Phil Ivey Baccarat "Cheating" Scandal/What Happened in "The Baccarat Machine" Case?. Steve and Matt Bourie, from the American Casino Guide book, interview casino consultant Bill Zender to discuss the $20 Million Phil Ivey baccarat "cheating" scandal.
They recap what happened, according to published reports, and they also get extra "behind the scenes" details from Zender about the situation.
Zender specializes in table game protection for casinos, and he gives detailed information on exactly how Ivey and his gambling partner, Cheung Yin Sun (Kelly Sun), were able to win more than $20 million by edge-sorting at the game of baccarat.
They also explain how the situation was resolved with a series of lawsuits over the course of six years. And, finally, Zender gives his professional opinion as to whether or not "cheating" was involved, or if the win was legitimate by using advantage playing methods against the casinos.
00:00 Video introduction
00:55 Introduction to Bill Zender and his background in casino gambling
04:25 Confirming the public facts
06:47 How edge sorting works
10:45 How they used edge sorting to their advantage
13:30 The math behind how they made their money
20:21 The results of the court cases
22:00 Were they actually "cheating"?
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