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Ivey win would be a bookmaker's bath
"Ivey will be a terrible result for us and we think that the industry as a whole will have massive liabilities," a spokesperson for the PartyPoker sister site said.
"A big name on the final table of the WSOP is always bad news for bookmakers and, in fairness; they don't come much bigger than Ivey."
Despite the fact he's currently seventh in chips coming into the Nov. 7 final, PartyBets says it's sitting on a "significant six figure liability" on Phil Ivey winning the WSOP Main Event.
The odds on Ivey taking down the tournament are currently at 6:1, but were at 175:1 earlier this year and sat at 100:1 as the Main Event got underway.
"175:1 as a starting price for any player in a field of 6,494 players is short to say the least," the spokesperson said. "His true odds could have been double that, but we had to price him prohibitively short because punters back the name. We have our fingers crossed that he doesn't pull off a remarkable comeback. The bottom line is that for us it has to be anybody apart from Ivey."
Betfair currently lists Ivey as 7:1 and Bodog has him at 4:1.
PartyBets believes it is not the only site that will take a bath if the Team Full Tilt pro pulls of a victory.
"I'm sure we're not the only ones quaking in our boots," the spokesperson said. "It doesn't take long to get six figure liabilities with three figure prices. This would be the worst poker result for a bookmaker in history. Imagine the fear of those that Ivey may have backed himself with, they'll make our concerns look trivial."
PartyBets.com currently has chip leader Darvin Moon as the 4:1 favourite, followed by Eric Buchman at 5:1.
Ivey only has only a slim chip lead on Everest Poker qualifier Antoine Saout, but Saout is a 17:1 shot.
Despite a bevy of success since booking their seats at the final table, James Akenhead is still listed at 15:1 and Kevin Schaffel stands at 13:1.
PartyBets lists Jeff Shulman and Steven Begleiter at 7:1, while Joseph Cada sits at 13:1.
PartyBets customers can also bet on the winning hand, the final river card and its color and suit.