[1] After his graduation in 1983 (with degrees in EECS and from the MIT Sloan School of Management), he was an investment banker in Brooklyn, New York for a number of years before beginning to play tournament poker.

[citation needed] Varkonyi is most well known for winning the 2002 World Series of Poker Main Event, taking the $2 million prize.

[3] In the WSOP Main Event the following year, Varkonyi was at the televised feature table, playing in defense of his championship.

In the 2003 World Series of Poker, Varkonyi's chance of a repeat championship was dashed when his K♥ K♦ met Nguyen's A♦ A♠.

He finished the tournament in second place, being defeated in heads-up play by 1983 world champion Tom McEvoy.