2019 WSOP ME 7th place finisher, Nick Marchington being sued by a staking group.

Allegedly Nick Marchington contacted a staking group, c biscuit poker staking, to buy a piece of his WSOP action in the following 2 tournaments:

$5k NLh 6max

$20k WSOP ME

Both parties agreed to a 1.1-1.2 mark up and the staking group bought 10% and sent Nick $1,750 for the action.

3 weeks later the staking group asked for proof of receipts that he had bought into each tournament, at this time Nick said that he was most likely not playing either tournament. The staking group was fine with it and requested the money back. They tried to get a 3rd party to pick it up.

Shortly after that, Nick messaged them that he’d still likely play the main event but wanted a higher make up (1.7). That same day, he sent them a picture of the $5k 6max receipt. The staking group was confused and asked if they still had action. He said yes to the $5k but unsure about the ME.

On July 1st, Nick contacted the staking group and said their action was cancelled. On July 4th Nick played the Main and bagged, and on July 5th tried to return $1,200.

It’s unclear if they accepted it or not, but I assume they didn’t. Once he finished 7th, they filed the lawsuit. Caesars had already paid Nick but they cancelled his check. Nick was made aware of the lawsuit several days later when he tried to cash out from another event and Caesar’s wouldn’t let him.

The staking group is suing him for $152.5k + attorney fees.

Original source: https://www.pocketfives.com/articles...t-deal-625927/

What a mind fuck this situation is.

He sells action, then isn’t sure he’s going to play. Then says he isn’t playing, then plays one of the events, and at last minute cancels the 2nd event but still plays it.

The one thing Marchington has going for him is that he contacted them before playing the event to say they didn’t have action, and he tried to return the cash prior to even making the money in the event.

It feels super dirty, but I think I have to side with Marchington here and say I don’t think he owes the $150k. I think the investors are just upset they lost out on what would of been a HUGE ROI.

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Originally Posted by AhoosierA

What a mind fuck this situation is.

He sells action, then isn’t sure he’s going to play. Then says he isn’t playing, then plays one of the events, and at last minute cancels the 2nd event but still plays it.

The one thing Marchington has going for him is that he contacted them before playing the event to say they didn’t have action, and he tried to return the cash prior to even making the money in the event.

It feels super dirty, but I think I have to side with Marchington here and say I don’t think he owes the $150k. I think the investors are just upset they lost out on what would of been a HUGE ROI.

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I think he owes them and their attorney's fees along with a broken leg. He's angle shooting bastard.

So.. Caesar's cancelled his check because of a lawsuit from a third party? Hows that work? I win money at a casino and some third party can prevent them from paying me?!? Or they (Caesars) chose to do this?

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Originally Posted by donkdowndonedied

So.. Caesar's cancelled his check because of a lawsuit from a third party? Hows that work? I win money at a casino and some third party can prevent them from paying me?!? Or they (Caesars) chose to do this?

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Basically this is a repeat of the Jamie Gold fiasco of 2006.. Very likely the backers got a court order injunction to keep Ceasers from paying him until the issue is resolved.. Otherwise theres no guarantee they will ever get their money even if they prevail in court finally..

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Originally Posted by donkdowndonedied

So.. Caesar's cancelled his check because of a lawsuit from a third party? Hows that work? I win money at a casino and some third party can prevent them from paying me?!? Or they (Caesars) chose to do this?

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It's basically a Garnishment procedure. In this case, Caesars the Garnishee was served with process and is simply trying to comply and avoid liability. Different jurisdictions handle them in their own way. So, Caesars is going to look to the court as to how they will disperse the funds. They do this because some jurisdictions can apply judgements against Garnishees if they do not comply with the process.

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Originally Posted by Cerveza Fria

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Originally Posted by donkdowndonedied

So.. Caesar's cancelled his check because of a lawsuit from a third party? Hows that work? I win money at a casino and some third party can prevent them from paying me?!? Or they (Caesars) chose to do this?

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It's basically a Garnishment procedure. In this case, Caesars the Garnishee was served with process and is simply trying to comply and avoid liability. Different jurisdictions handle them in their own way. So, Caesars is going to look to the court as to how they will disperse the funds. They do this because some jurisdictions can apply judgements against Garnishees if they do not comply with the process.

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It's not a garnishment as there hasn't been a judgment, just the filing of a complaint.

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Originally Posted by Tellafriend

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Originally Posted by Cerveza Fria

It's basically a Garnishment procedure. In this case, Caesars the Garnishee was served with process and is simply trying to comply and avoid liability. Different jurisdictions handle them in their own way. So, Caesars is going to look to the court as to how they will disperse the funds. They do this because some jurisdictions can apply judgements against Garnishees if they do not comply with the process.

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It's not a garnishment as there hasn't been a judgment, just the filing of a complaint.

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you can get a pre-judgment writ of attachment (lien) when it involves money and a business dispute so that the funds don't disappear.

I think he owes and seems scummy ...

Hailey did a much better write up that includes a few quotes that were not in the p5s article as well as screen shots of the texts from the court dox: http://www.flushdraw.net/news/poker-...k-marchington/
There's a lot to the story that we don't know.

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Originally Posted by Tellafriend

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Originally Posted by Cerveza Fria

It's basically a Garnishment procedure. In this case, Caesars the Garnishee was served with process and is simply trying to comply and avoid liability. Different jurisdictions handle them in their own way. So, Caesars is going to look to the court as to how they will disperse the funds. They do this because some jurisdictions can apply judgements against Garnishees if they do not comply with the process.

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It's not a garnishment as there hasn't been a judgment, just the filing of a complaint.

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Technically, you are correct. Hence the word "basically". It is similar in nature. They are just telling Caesars don't pay out until the court sorts everything out.

He just posted a more complete skype log on 4:

His Skype chat IMO basically screws the backing group. Especially when they are saying “All we want at this point is our money back” and then they accepted and confirmed their money back.

once they accept the refund thats their claim done, imo

Marchington got the 10% held by the Rio released.

This does not affect the status of his case, but he is holding the money now, possibly making it more difficult for the plaintiffs to collect if they win.

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Originally Posted by Dan Druff

Marchington got the 10% held by the Rio released.

This does not affect the status of his case, but he is holding the money now, possibly making it more difficult for the plaintiffs to collect if they win.

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and he just binked 5th place in EPT Barcelona. Great run

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Originally Posted by donkdowndonedied

So.. Caesar's cancelled his check because of a lawsuit from a third party? Hows that work? I win money at a casino and some third party can prevent them from paying me?!? Or they (Caesars) chose to do this?

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I doubt it, seems unlikely.

Why not just wire the money into your bank account?

Or just accept cash.

I would not accept a check from Caesars, they are not good for it.

What the fuck is this crap with people charging excessive markups?

Fuck You...you fucking assholes are not worth it.

:facepalm4

Update: Las Vegas Judge clears way for Marchington to collect entire collect entire $1.525 million prize:

https://www.beatthefish.com/nick-mar...aking-lawsuit/