Quote:
Originally Posted by elendil200
This is some scumbag pretetory behaviour. Just pure greed in my opinion. Doesnt suprise me this is common practice in poker.
Sounds like a great way to reverse freeroll youself. You may win more chips but you may never get the money. Or your opponent runs hot and wins your money back with your money. jfc.
Please clarify something ....
Did the "loan" consist of simply pushing over $1.0 million in chips and then continuing play?
If so, I would not be surprised at a final outcome if this proceeds to judgment of "No loan, because you cannot "loan" chips, they can only be used for gaming purposes; chips can't be "walked" and used for any purpose other thn gaming, you can loan money but doubt you can loan casino chips.
(In a case from NJ, the "not-yet-POTUS' owned a casino which borrowed $2 million from his Dad and gave him chips as collateral. After bankruptcy, Trump's Dad sought priority for cashing in his chips, instead of collecting on the debt)
Presumably, Mat won back the chips and cashed out, so the "freeroll" aspect is all his at this point.
Both sides have an incentive to settle, but, ironically, Mat may be risking the most. Don't bet against Leon's lawyer in this.
The gaming licensee who allowed this "chips loan" transaction also may have some" 'splainin' to do".