The Legend of Nick The Greek

Of all of the gamblers who’ve ever lived, none was extra well-known than Nicholas Andreas Dandolos, aka; Nick The Greek. The 12 months was 1946. Benjamin “Bugsy” Seigal had simply opened the Flamingo Lodge & On line casino in Las Vegas and issues have been about to vary perpetually. For the following 20 years the mob maintained a metal grip on legalized playing in Nevada.

It was throughout this time that “The Greeks” legend had begun to take maintain. Though he was well-known and preferred within the hay days of Damon Runyon’s 1920’s and 30’s, it was his Vegas adventures that solidified the mystique surrounding the person.

There are such a lot of tales attributed to the Greek that it is laborious to separate truth from fiction. The one dependable accounts I’ve have been instructed to me by my father who had spent as a lot time in Vegas as the blokes that vacant out the slot machines.

As a younger man in his very early 20’s, Nick was engaged to be married and the day earlier than the marriage, his fiance ran off with one other man. Heartbroken, some buddies took him to the racetrack to get his thoughts off it.

Because the story goes, with out rhyme or purpose, Nick proceeded to randomly choose 8 consecutive winners parlaying his bankroll into almost $20,000. From that time on the stage was set and our hero by no means appeared again. Some folks imagine in future, some do not. On this scenario it is laborious to name it anything.

On the craps tables he was a confirmed “do not move” bettor at all times laying full odds in opposition to the purpose. He was a daring gambler with an uncanny understanding of the mathematical percentages of any playing proposition. He had very sound judgment and an innate intuition for locating an edge.

As with most seasoned gamblers, the strategies they use to extend their wagers when on a successful streak was for probably the most half intuitive. If you’ve been round playing for that lengthy a time a variety of it turns into second nature.

The “Greek” was additionally know for utilizing a system of plateaus, as he referred to as it. This was a way of locking up a portion of his winnings to insure he would not play all of it again as soon as he had a successful session.

Utilizing an instance; Beginning with $1,000, you hit a successful streak. You step by step construct the stake as much as $1,500. He would then lock up $500 (50% of his beginning stake) and proceed to play with the remaining. If he gained one other $500 he would lock that up and be enjoying with the winnings solely.

It is a very clever cash administration system that protects your capital and permits the participant to attempt construct to a different plateau utilizing his income. Every time he reached one other $500 stage he would lock it up and refuse to play it again no matter any opposed run of luck.

Nick The Greek appeared to have an impressed knack for any sort of playing. He was a believer in luck and acknowledged that each one luck, good and unhealthy, ran in cycles. He knew the easiest way to reap the benefits of these cycles was to wager closely when it was working in your favor and to cut back his bets to a minimal when it went in opposition to him. This process would assure that his successful wagers would all be considerably bigger than his shedding ones.

One evening at a cocktail party, Nick went upstairs to a excessive stakes poker recreation. About two hours later he emerged from the sport having misplaced $250,000. He went onto the dance ground laughing and joking and having a good time. A pal came visiting and requested him the way it was he may very well be dancing and in such good spirits having simply misplaced 1 / 4 of million {dollars}. With a giant smile on his face he checked out his pal and stated, “your life does not go together with it.”

Possibly the rationale Nick the Greek’s legend is so enduring is as a result of he was clearly, a really elegant man. He was additionally recognized for saying, “the one distinction between a winner and a loser… is character.” For our functions, we’ll name it self-discipline.

It was stated that The Greek gained and misplaced about $400 million {dollars} in his lifetime, near a billion {dollars} in right now’s cash. Nick died broke in 1966 however I by no means obtained the sense having some huge cash meant all that a lot to him anyway. It was only a means of holding rating.

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