The year was 1946. For another 20 years that the mob maintained a steel clasp legalized gaming in Nevada.
It was during that period the”The Greeks” legend had begun to take hold. Though he was well known and liked in the hay of Damon Runyon’s 1920’s and 30’s, it had been his Vegas adventures that solidified the mystique surrounding the guy.
There are so many stories credited to the Greek that it is difficult to distinguish fact from fiction. The only reliable accounts I’ve were told to me by my dad who’d invested as much time at Vegas because the guys that drain from the slot machines bandarq.
As a young man in his very early 20’s, Nick was engaged to be married and the day before the marriage , his fiance ran off with another guy. Heartbroken, some friends took him to the racetrack to receive his mind off it.
As the story goes, without reason or rhyme, Nick proceeded to randomly pick 8 consecutive winners parlaying his basketball into almost $20,000. From there on the stage had been set along with our hero never looked back. Many folks believe in fate, some don’t. In this scenario it’s hard to call anything else.
At the craps tables that he was a confirmed”do not pass” bettor constantly putting full chances against the point. He was a daring gambler having an uncanny comprehension of the mathematical proportions of any gaming proposal. He had very solid judgment and an inborn instinct for finding an edge.
Just like the majority of seasoned gamblers, the approaches they use to raise their wagers if on a winning streak has been for the most part instinctive. When you have been about gambling for this long a time a lot of it becomes second nature.
The”Greek” was also know for using a system of plateaus, as he predicted. This was a way of locking up a portion of his winnings to assure he wouldn’t play with it all back once he had a winning session.
Utilizing an example; Beginning at $1,000, you strike a winning streak. You slowly construct the stake up to $1,500. He would then lock up $500 (50 percent of the starting stake) and continue to perform the remainder. When he won a second $500 he would lock that up and also be playing with the winnings only.
This really is a very intelligent money management system that protects your capital and allows the player to try build to another plateau with his gains. Each time he reached an additional $500 degree he would lock it up and refuse to perform it back regardless of any negative run of luck.
Nick The Greek appeared to have an inspired bent for any type of gaming. He was a believer in luck and recognized that all luck, good and bad, conducted in cycles. He knew the best way to make the most of these cycles was to gamble heavily when it had been working in your favor and also to decrease his bets to a minimum as it moved against him. This procedure would ensure that his winning wagers would all be significantly larger than his dropping ones.
1 night at a dinner celebration, Nick went to some high stakes poker game. About two hours later he emerged from the game having dropped $250,000. He went onto the dance floor laughing and laughing and having a great time. A friend came over and asked him how it was he could be dancing and at such excellent spirits having just lost a quarter of million bucks. With a huge smile on his face that he looked at his friend and said,”your life does not go with it.”
Perhaps why Nick the Greek’s legend is so enduring is because he was obviously, a very classy man. He was also famous for stating,”the only difference between a winner and a loser… is character.”
It had been said that The Greek won and lost about $400 million dollars in his lifetime, near a billion dollars in today’s money. Nick died broke in 1966 but I got the sense with a lot of money intended that much to him anyhow. It was only a method of keeping score.
Ray Walkoczy is the author of Players’ Casino Club. It’s web site was made to explain winning playing and betting strategies together with historic background. The players’ Club concentrates on the four finest casino table games of Blackjack, Craps, Roulette and Baccarat. Our aim is to present the very best ways to provide the casino player the best chance of winning consistently. The information is free to anybody interested in learning how to win. Your comments and questions are always welcome.