A very interesting ethics situation and a Bellagio Floor ruling

[iron81]

My understanding of the general rules is:

1. Chips cut into the pot represent a bet. A bet has been made at the instant the chips are cut.
2. Action out of turn is not binding.
3. Barring a forward motion rule (which the Bellagio does not have), chips in your hand which you do not release do not represent a bet.

Seems to me the best ruling is: Player 2 is obligated to call what Player 1 had already cut into the pot ($200) because that was clearly his intention. However, Player 1 should not be deprived of making whatever bet he wants because he was not done acting. Therefore, Player 1 may increase his bet size to whatever he wants, which Player 2 is not obligated to call.

Similarly if Player 2 had said "all-in": Player 1 had already released $200 into the pot, he bet that and should be stuck with it. The AI stands and Player 1 may fold or call with the $200 in the pot. I like it this way because the shot taking Player 2 gives Player 1 an advantage if Player 1 is bluffing, but Player 1 clearly meant to bet at least $200.