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Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT*

04-15-2014 , 11:59 PM
Quote:
Originally Posted by dstock
Questions to any one of the final 27-

What were your realistic expectations? Is the 20k more or less than you expected? How far away is the judgment that what you expected( not hoped for)?
Between 40k-60k. I had about avg stack.

My biggest issues with the settlement is two fold.

First I agree with the people that state that there is no way to prove I or anyone else specifically would have finish better the 10th, but 9 of us would have. 450-28 place all have received the percentage of the total prize pool as indicated on the payout schedule, however the 27 people remaining combined lost 60%+ of their equity of the prize pool in order to pay the bust out that "May" have been affected by the cheater. They do not know who was or was not affected by the cheater but I have to pay them out of my equity. If the Borgata was not negligent why the refunds?

Second Joe Lupo VP stood in front of the 27 and said the Borgata would make this right for the 27 and they viewed us differently then everyone else. Apparently he meant that we were the cash cow that was gonna save the Borgata 900,000.

For all of the people itt that believe that the Borgata did nothing wrong I would like to pose this simple question. If the Borgata was only using 1 chip set instead of the 3 different chip sets, would it have been easier for players/dealers/floor staff to notice the fake chips?
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:01 AM
Quote:
Originally Posted by PSUMike1999
Maybe at 1 time but not anymore. The Venetian's attendance for their Deep Stack events during the WSOP last year was way down and imo will continue to drop. I think Adelson's ridiculous stance against online poker has hurt the crowds there big time. I know I won't play a Venetian DSE event and haven't played 1 for 2 years.

Has Venetian attendance dropped significantly? I go to vegas a few times a year but won't go in Venetian. I was under the impression that the poker room was doing just fine and there was no drop at all since adelson started pushing hard against online poker. Am I misinformed?
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:04 AM
Quote:
Originally Posted by JamesD816
Has Venetian attendance dropped significantly? I go to vegas a few times a year but won't go in Venetian. I was under the impression that the poker room was doing just fine and there was no drop at all since adelson started pushing hard against online poker. Am I misinformed?
I don't go in there either but from what I remembered last summer, the crowds for the DSE were down significantly, way way down from even 2 years prior. I think that had a lot to do with Adelson and people individually boycotting the place.

I expect more of the same this summer.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:05 AM
Quote:
Originally Posted by Oneof27
Joe Lupo VP stood in front of the 27 and said the Borgata would make this right for the 27 and they viewed us differently then everyone else. Apparently he meant that we were the cash cow that was gonna save the Borgata 900,000.
Lupo is a snake.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:07 AM
Quote:
Originally Posted by JamesD816
Has Venetian attendance dropped significantly? I go to vegas a few times a year but won't go in Venetian. I was under the impression that the poker room was doing just fine and there was no drop at all since adelson started pushing hard against online poker. Am I misinformed?
Attendance has dropped off a little since they got hacked and has not returned to the pre-hack levels yet.
I avoid any Sands properties b/c of Adelson
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:15 AM
Aross I am not familiar with hacking incident. But it does look like last year there was some backlash


Quote:
Originally Posted by PSUMike1999
I don't go in there either but from what I remembered last summer, the crowds for the DSE were down significantly, way way down from even 2 years prior. I think that had a lot to do with Adelson and people individually boycotting the place.

I expect more of the same this summer.
DeepstackIII which coincides with WSOP. This is main event attendance last few years . Each was a 5k buyin. Looks like last year was affected for sure.

2008. 173
2009. 260
2010. 282
2011 374
2012. 398
2013 242
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:19 AM
Quote:
Originally Posted by Schneids
If I was in charge of a rival casino in the AC area I'd offer up the chance for the remaining 27 to finish the tourney at my poker room... Let them each start with their published remaining chips, make the prize pool be $900k and proportion it to what the published % of prize pool was for each of 1st to 27th, offer to comp the 27 a flight and room, and watch the amazing PR roll in... Would for sure become a national story and the PR of it would more than be made back for whichever casino had the guts to do a move.
this thread has taught me that people have great ideas about how to easily spend others' money.

the above idea is insane. Poker players do not need to be catered to. They don't need to be shown fairness or even slight concern. You certainly do not need to spend 1 million on buying their good faith.

They are widely viewed as spineless whiny degenerates. Spineless in that there has been minimal shown backlash at the borg over this decision. There has been a lot of chatter on twitter and here about it but that accomplishes 0. Whiny in that they will cry and moan over the outcome and still show up for the next supersat or survivor tournament.

If you don't think this is how casino giants see the poker community then you're not being honest with yourself. Increased juice, decreased room discounts, decreased comps, decreased dealer competence, etc etc. No company is going out of their way to cater to poker players and we've given them no signs that they have to.

Borg just has to weather this initial burst of sentiment from places like this board- stay quiet and slowly all this energy will dissipate and it will be back to business as usual.

---

oh, and i didn't get a refund and never thought i deserved one even if i was playing in the same room.

i definitely feel for the last 27. they've been given the high hard one. love lupo bold face lying right to them. stay classy and professional my friends.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:27 AM
Quote:
Originally Posted by willie
this thread has taught me that people have great ideas about how to easily spend others' money.

the above idea is insane. Poker players do not need to be catered to. They don't need to be shown fairness or even slight concern. You certainly do not need to spend 1 million on buying their good faith.
I was thinking it would buy good will among all casino-going patrons when I typed what I did. If the move gets even just a few whale pit players to come visit your casino instead of some other casino because they perceive your place as a place that goes out of its way to treat customers well, it can pay for itself. And for whatever they pay for commercials, print ads, radio ads, etc, a story like this could reach millions and millions of people while both painting your casino glowing and trashing a rival. I dunno for under a million doesn't seem so insane to me if you were a huge casino corporation.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 12:28 AM
Quote:
Originally Posted by Oneof27
Between 40k-60k. I had about avg stack.

My biggest issues with the settlement is two fold.

First I agree with the people that state that there is no way to prove I or anyone else specifically would have finish better the 10th, but 9 of us would have. 450-28 place all have received the percentage of the total prize pool as indicated on the payout schedule, however the 27 people remaining combined lost 60%+ of their equity of the prize pool in order to pay the bust out that "May" have been affected by the cheater. They do not know who was or was not affected by the cheater but I have to pay them out of my equity. If the Borgata was not negligent why the refunds?

Second Joe Lupo VP stood in front of the 27 and said the Borgata would make this right for the 27 and they viewed us differently then everyone else. Apparently he meant that we were the cash cow that was gonna save the Borgata 900,000.

For all of the people itt that believe that the Borgata did nothing wrong I would like to pose this simple question. If the Borgata was only using 1 chip set instead of the 3 different chip sets, would it have been easier for players/dealers/floor staff to notice the fake chips?
Your points are extremely valid. Seems absurd that those already paid get their full shares, while those who were still playing at the time the tournament was halted did not. Too much trouble to chase down and recoup from all those others who cashed, so we'll just take it out of your equity instead. That appears to be the logic.

I hope a suit is filed, if only to make both Borgata and the Gaming executives sweat. They need to answer questions. One would be whether any casino is capable of negligence when running a tournament? In other words, if this isn't negligence, what is?

Lastly, its clear that neither Borgata nor the Gaming Commission had any kind of contingency plan for this kind of a situation. If they did, they could have told you from day one what was likely to happen. That alone should be construed as some sort of negligence wouldn't you think.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 02:10 AM
Quote:
Originally Posted by JamesD816
Aross I am not familiar with hacking incident.
http://www.lasvegassun.com/news/2014...sinos-go-down/

Quote:
Las Vegas Sands Corp., owners of the Venetian and Palazzo on the Strip, has restored its websites about a week after they were apparently taken over by hackers.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 03:15 AM
Borgata should run a freeroll for anyone who entered this event. It'd be the only way I'd even consider playing in the Spring Open.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 04:04 AM
Quote:
Originally Posted by Maltlicky
Borgata should run a freeroll for anyone who entered this event. It'd be the only way I'd even consider playing in the Spring Open.
Not to pick on you in particular, since this thread is full of whacked out people suggesting a never-ending stream of creative ways to spend the Borgata's money, and this isn't even one of the particularly bad ones. But this is the latest reminder of something that I've been thinking about, and meaning to post.

Suppose that Borgata wanted to do something nice for the poker community and/or tournament players after this terrible event - not because they have to, or because they're at fault in any way - but just because they're a great poker institution, and they want to make their customers happy. One look at this thread would make them realize that there's absolutely, positively, no upside to it. There's no possibility that they could do anything remotely reasonable that wouldn't have hordes of fuzzy-thinking, irrational entitled morons criticizing them, clamoring for more, and redoubling their lawsuits. As a great poker room, I bet they considered what they could do for their customers, and reluctantly came to this very conclusion.

Many of you guys are your own worst enemies.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 04:07 AM
I was curious how much Borgata made running the rest of their WPO events... Assuming no typos or mis calculations on my part, here are those totals for each event (the first number after the event is the rake):

Event 2: $37,207 (615 entrants, $500 buy in with $100 bounty, $208,793 prize pool)
Event 3: $64,788 (578 entrants, $560 buy in, $258,892 prize pool)
Event 4: $8,890 (140 entrants, $500 buy in, $61,110 prize pool)
Event 5: $49,489 (818 entrants, $400 buy in, $277,711 prize pool)
Event 6: $7,175 (113 entrants, $500 buy in, $49,325 prize pool)
Event 7: $13,279 (271 entrants, $340 buy in, $78,861 prize pool)
Event 8: $90,216 (1392 entrants, $400 buy in, $466,584 prize pool)
Event 9: $6405 (134 entrants, $300 buy in, $33,795 prize pool)
Event 10: $20,724 (327 entrants, $450 buy in, $126,426 prize pool)
Event 11: $4,820 (85 entrants, $450 buy in, $33,430 prize pool)
Event 12: CANCELLED WEATHER
Event 99: $13,608 (378 entrants, $230 buy in, $73,332 prize pool)
Event 13: $20,449 (338 entrants, $500 buy in $100 bounty, $114,751 prize pool)
Event 14: $12,480 (64 entrants, $1650 buy in, $93,120 prize pool)
Event 15: $44,760 (373 entrants, $1090 buy in, $361,810 prize pool)
Event 16: $6,223 (98 entrants, $500 buy in, $42,777 prize pool)
Event 17: $44,165 (730 entrants, $400 buy in, $247,835 prize pool)
Event 18: $6,375 (85 entrants, $560 buy in, $41,225 prize pool)
Main Event: $383,471 (1229 entrants, $3500 buy in, $3,918,029 prize pool)
Event 20: $28,730 (260 entrants, $450 buy in, $88,270 prize pool)
Event 21: $36,072 (1002 entrants, $230 buy in, $194,388 prize pool)
Event 22: $9,792 (272 entrants, $330 buy in $100 bounty, $52,768 prize pool)
Event 23: $9,360 (260 entrants, $230 buy in, $50,440 prize pool)

Grant total: $918,478 dollars taken out of the prize pool...

Typically casinos remove a couple percent of the prize pool to be withheld for staff/dealers etc (I didn't bother trying to find if it's published anywhere how much Borgata does withhold for staff)... Which means roughly 1/5th to 1/7th of that grand total above went to staff and not the house... Putting Borgata's net gain in the neighborhood of $735,000-790,000 for the rest of this WPO. So if they reimbursed buy ins themselves instead of making the top 27 eat that bill, they'd have lost money for the entire series (not withstanding effects of rooms being booked, food being ate, pits being played, cash games being raked).

Original source of the event totals from: http://www.bluff.com/tournaments/201...-open-3013.htm
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 05:08 AM
Quote:
Originally Posted by pipes
The governing body specified the minimum that must be paid out. Nothing is stopping the Borgata from making extra payments to the 27, most notably those with more chips. The Borgata decided to not do anything more. Thus players can decide what to do in response to that and one such response is to never show up again.
this
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 05:34 AM
The bottom line is that every single person running a gambling entity, as well as most people in the gambling industry, when push comes to shove, are complete ****ing scumbags. That's it. When the time comes, every single company- and most players- will screw you over if it comes down to that or a profit loss for them. Basically, going forward, every single person should be completely aware that this entire industry is run by complete scumbags.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 06:25 AM
This is a joke. In a country where you can get millions of dollars in compensation for ****ing NOTHING by absolutely incapable judges and juries, the final 27 should have no chance if they sue?? If that's right, I'm once again baffled by the US legal system.

The ruling is an absolute joke for the final 27 and I wish them the best of luck and the best lawyers.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 06:49 AM
Quote:
Originally Posted by dstock
Questions to any one of the final 27-

What were your realistic expectations? Is the 20k more or less than you expected? How far away is the judgment that what you expected( not hoped for)?
I'm 22nd in chips, I thought 28K+ was the least I would get.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 07:16 AM
Quote:
Originally Posted by BlkJakShelak
I'm thinking NJDGE or Borgata should have some kind of insurance that covers something like this. 1 or 2 Million in 2014 is kind of weak to dodge considering the bad publicity.
Insurance is always a losing proposition for those who can afford to self-insure, which these guys clearly can.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 08:57 AM
Quote:
Originally Posted by Oneof27

Second Joe Lupo VP stood in front of the 27 and said the Borgata would make this right for the 27 and they viewed us differently then everyone else. Apparently he meant that we were the cash cow that was gonna save the Borgata 900,000?
They did make it right. Each of the final 27 got 10th place money.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 08:58 AM
Quote:
Originally Posted by pninwin
I'm 22nd in chips, I thought 28K+ was the least I would get.
pninwin- I hired a legal counsel. please get in contact with me. We played the main event together and you saw my face as I was knocked out. I am the same guy that you asked to go to dinner with but I had already had dinner by that time.

Any other remaining 27 players, please get in touch with me as well. What they are doing is not equitable and agreeable for the players with still significant amount of chips. It's really horrible what they did with our portion of the prize pool. We were playing for 372K at top. It is not even close what our ICM would have been.

soccerh86@gmail.com
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 10:04 AM
This is a disgrace, will never step foot in the Borgata unless they make it right
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 10:11 AM
So what becomes of the class action suit they cut in half lol they were real sneaky about this. Pay for half the fields refunds with the final 27 money. So the class action lawsuit goes away and they only have to go against some of the final 27 in court.


Never again. Everyone go to parx big stax better structure.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 10:21 AM
I hope the final 27 sue them. I'd chip in to a legal fund although i'd imagine they'll be able to find a lawyer to take on the case on contingency
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 11:05 AM
Quote:
Originally Posted by BigO6377
I doubt you can confirm this... I have yet to find an ICM calculator that can compute payouts for more than 10-12 players. Turns out its a very cumbersome calculation that gets exponentially more memory/time intensive as you increase number of payoffs. For you comp-sci geeks, I believe the computational complexity of the ICM algorithm is ~O(2^N) where N is number of players.
I'm not a comp-sci geek (at any rate, I don't grok the math the way some do on these forums) but even I know that 0(N) = 0! No matter what value is given to N. 0 x anything equals 0!

Maybe ICM isn't the best approach, either because:

Quote:
Originally Posted by ohsnapzach

Now I'm really confused, because this chart shows the top people with chips getting way less than the payout table......

And the payout table clearly shows that only the top 9 players would have been getting more than the $19K+ that they receive under the payout plan. So how are the rest being shorted??

As for the pinwin, who posted

Quote:
I'm 22nd in chips, I thought 28K+ was the least I would get.
Why would you think this, when if you had ended up cashing in 22nd you would only have gotten $8,140. Less than 1/2 of what you are getting?

Even if you had come in 9th somehow, you still would have "only" gotten paid $26,747 - still under the $28K+ you think you deserved....

Lee
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote
04-16-2014 , 11:29 AM
Quote:
Originally Posted by Lovesantiques
Why would you think this, when if you had ended up cashing in 22nd you would only have gotten $8,140. Less than 1/2 of what you are getting?

Even if you had come in 9th somehow, you still would have "only" gotten paid $26,747 - still under the $28K+ you think you deserved....

Lee
Probably had a "Feeling", that he was making the final table.
Borgata finds counterfeit 5k chips in WPO #1-Cncls event-Arrest made-Lawsuit filed-*RULING OUT* Quote

      
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