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During my
first year playing Blackjack in the casinos, I made €10,000 in a month.
During my
first year trading in Betfair's UK Horse Racing markets I made almost €100,000.
Nowadays,
I'm trying to make €1,000,000 playing online Hold'em poker.
Seems that
I got your attention, right? Here are more details about my life as a
professional gambler.
I was born
in 1979 in Greece. During my childhood, nothing extraordinary happened, except
the fact I had a serious injury at school which held me in a hospital's bed for
6 months and made me use crutches for 2 years. Since I recovered I started
physical exercising, swimming and weight lifting and I was in love with gymnastics and a
sporty, healthy life. At the same time, I began studying Chemical Engineering
in the university, but never actually finished it. The reason was that I needed
to stand out from the crowd, to make something out of my life, to get away from
the usual "school, university, job, retirement". Nothing wrong with that
honestly, I was just another strange, ambitious and extremely selfish kid. To
tell you the truth, if you haven't big ambitions and a huge ego, then you are
not going to make a big success in gambling. After all, even those, that in
fact have these characteristics, aren't guaranteed that they will not fail.
While I was
preparing my final diploma's work, I began reading and studying about blackjack
in internet. Exploring websites, registering in forums and visiting every
little corner in the web that could be valuable for me. I then visited the
local casino with €1,500 as my bankroll in Christmas. That was pocket-money I
was saving over the last months by not going out regularly, by not using the
car daily, and by not making too many calls with my mobile phone. Yes, I was
indeed a small Scrooge McDuck.
Although I
had that amount of money, I was ready to spend just €300 for the time being and
if I lost it, I would quit and return to my university tasks. Now that I think
about it, I really don't know if I would actually graduate as a Chemical Engineer,
but my options would be limited by then. The first day I gambled, I won about
€180. I was in high spirits. My first earned
money.
Surely, you
now expect the dreadful continue which should see me lose it all, correct?
Wrong. Maybe I was the one out of ten kids who would never look back again in
this adventure. Without doubt, I was extremely lucky during my first steps.
After a week (I played blackjack on a daily basis) I won €1,000 in just 2
hours. My bankroll had almost doubled (€2,800) in ten days.
Now, that
is called huge variance. I was playing certainly above my bankroll limits and
risking going broke at about 85% probability (risk of ruin). Fortunately the
following months made me realize that, without losing too much of equity. My
bankroll was neither increased nor decreased, it more or so fluctuated around
€2,400. We are talking about playing blackjack for 5 months, almost every day.
I was getting a bit nervous and finally, the day that changed my life came.
I was left
with €2,150 and I had decided it was time to change my mobile phone. I was
about to buy a new one with that €150 of mine. However, I had told myself that
if I dropped below €2,000 I would quit the whole idea and get my university
degree. I honestly had said that to myself. On that day I went to the casino
with a very close friend of mine, Petros. At this point I have to admit that he
had been a great companion and support during my early gambling days. He used
to come with me almost every day I went to play, and he kept on encouraging and
motivating me, although I had been a bit of a pain in the ass for him. On that
day I changed my €150 for chips telling him: "That is it, that is my last money
ever gambled on a blackjack table". He sat beside me only to lose €50 of his
money in a matter of minutes. He was unlucky at that moment, while I was about
to witness my best up to then day.
I made
€1,350 in just 2 shuffles of the decks. It was the first time I got a grip of a
€500 chip. It was the first time my winnings had to be counted with a money
counting machine. It was the first time my bankroll finally had broken the
psychological (for me) barrier of €3,000 (that is one million in the old Greek
currency).
In November
of that year, I was playing about 10 hours average per day. There were days
that I sat to play at 13:00 and stood up at 05:00 in the next morning. 16 hours
straight. 4 days in a row. I made €10,000 during that month, or €40 per hour of
playing. On 5th of December I was naturally barred from the casino.
Not long afterwards, automatic shuffling machines were installed in casinos
country-wide and blackjack was over for professional players. My blackjack
career ended in less than a year.
The next 6
months were really hard. I concluded my diploma work, I returned to gyms and
swimming pools (which I abandoned during my casino days) and spent over 10
hours daily on the internet searching for methods and ways to make money,
mainly through gambling. I tried sports betting, sports arbitrage and stock
trading. None was successful, but fortunately I was just paper testing them,
except arbitrage which made me €50 daily but with an enormous effort and only
to see a profit wipeout in a golf game, due to a mistake I made.
And then I
discovered Betfair in May. I registered without a clue of what was going on in
there. I had really trouble at first to understand the purple and blue squares,
but it wasn't long before I got it. Still, I hadn't found a way to make it pay,
and my anxiety was getting bigger and bigger. In late June, another fact
altered my way of life. Permanently.
I came
across the Racing Traders website. At that time, Adam, the site webmaster and
owner, recorded and published videos of him trading the UK Horse Racing markets
before the off in Betfair. He had just one 10-minute video trading a
Cheltenam's race of that year. I must have watched it over 100 times. That
video meant everything to me! I could see that someone made money and how (or at
least have a general idea of how). I deposited €500 in Betfair on the 1st
of July and started trading using a 56kbits dial-up internet connection.
The year
was 2004 and automatic browser refreshers, automatic bets' submission and
trading software were really hard to come by. However, after extensive research
you could have the betfair interface refresh using a little program called
"Privoxy". The bets though were still submitted using the standard way. I
turned those €500 into €1,100 using privoxy, a 56k dial-up modem (1-2 secs
refresh, occasionally internet resetting/logging out) and manual bet
submission. The trick was that while Adam entered the stakes as "300, 400, 600"
etc., I typed them as "333, 444, 666" etc.! Apart from that, given I had
already studied about stock markets, charting strategies and patterns, I could
point out a trend in the horses' charts. Adam on the other hand started
publishing more videos, and I could see how he exited bad trades or made the
most out of really good ones. That was also very helpful. Yet, the biggest
difference was made when I installed an ADSL phone line and setup for a
broadband Internet connection. I made €3,000 in August.
Then comes
that dreadful continue you were expecting to see. I keep hearing that every
gambler will face a tough situation, at least once in his gambling career. In
September I had mine.
I had lost
€4,500 in just one trade. That was huge money for me back then. I had all my
profits during my last 3 months wiped out in a matter of seconds. In late
August I lost €800 because I let my trade open in-running and never closed it.
In mid September I did the same and lost €3,500 but managed to make it all back
through very good trading in the 2 following weeks. And then I became careless
and didn't pay attention to the clock, which left me watching a horse race
in-play, only to be won by the horse I had an open trade on, costing me my
whole betfair balance. That actually read, Total funds: €0.00! (You can see some of those screenshots in the Sports Trading Gallery)
I rang my
friend Petros and met him in a matter of minutes. I was really disappointed by
my performance and discipline. Once again, he was proven a huge inspiration, he
encouraged me for the nth time and put me back on track. I took
one week off, and then deposited €2,000 with my credit card in October. I turned
it into €5,000 by the end of the month and withdrew €2,000 back to the card. In
other words I never in fact deposited money since then and made over €100,000
in the following months. It was like I took a short-term loan from the bank,
which I returned in less than a month, making the most out of it.
In summer
of 2005 I bought my new car with my trading winnings, a Mercedes SLK. The idea
of getting a very good car was a dream of mine since the age of 17, and I had
managed to make it real 8 years later. Fulfilling a dream is truly one of the
most amazing feelings.
However,
since then my sports trading performance has a declining progress and I have
stopped trading the horse racing markets in 2007. I have put a lot of hours
into researching a sports betting strategy which I applied throughout the
season of 2006-07. You can check the performance of that here.
Lately, I
am playing poker online and you can see here and here some interesting posts.
I have
started trading using a Compaq Presario 2702EA laptop at first, then purchased
an Acer Aspire 1804WSMi and then I got a desktop and a fanless (quiet)
Fujitsu-Siemens Lifebook 7120. You can see my desktop arrangement here.
I own and
design Jimmakos.com website since 2004. The main purpose of the site was to
inform my friends of my progress and performances, while getting in touch with
fellow traders and gamblers worldwide. The latest internet fashion trend is
called blogging and I have altered my website to look alike one, although it
started as an entirely flash webpage, then changed into an html page and lastly
in php form using Joomla.
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