Phil Ivey vs Full Tilt Poker - What Is the Truth?

New data has surfaced indicating that Phil Ivey borrowed money from Full Tilt poker on many occasions and it seems like he has not paid it back yet.

Subject:Poker has recently published a report that contains all the player transactions made between Ivey and Full Tilt. This data shows that he owes the poker room more than $5 million. It is important to note here, however, that we do not know anything about other possible transactions which would be necessary to tell what the truth is.

It is a fact, though, that Phil Ivey filed a lawsuit against Full Tilt Poker (more specifically Tiltware, its operator) in early June, to which Full Tilt replied that Ivey owes a large sum of money to the site.

The report that has just been published states that between June 2009 and April 2011, Phil Ivey borrowed money from Full Tilt at least eighteen times (making $10,715,000) and repaid money at least five times, totalling around $5 million. So the assumption is, that Ivey still owes Full Tilt around $5 million.

Ivey was taking the loans mostly in sums of $500,000 or $1 million, and it can be observed that whenever Phil won big online, he paid back parts of the loans. During the time Isildur1 was playing the high stakes games, for example, a series of loans and repayments occured. This makes me think that the money was used to finance other players' high stakes games.

You can read the full report here.