Obrestad epitomizes the next generation of online gamblers: digital natives with the intuitive ability to rapidly assimilate and manipulate information online. She grew up with an independent streak after her parents divorced when she was five. Living with her mother, who worked at the same dry-cleaning shop for the past 25 years, Obrestad nursed her competitive streak in games of Spades with her mom, and bowling at her local alley. One night while watching bowling on TV, she noticed an ad for online poker in the background and decided to boot up.

There was just one problem. At 15, she was too young for online gambling which, in Europe, requires players to be 18 (in the United States, the age is 21). Of course, there are ways around this—like using your mom's credit card. When Obrestad's mother didn't go for that idea, Obrestad did the next best thing—playing in "freerolls," free tournaments online, and duping the age verification request. "The sites weren't as strict as they are now," she says, "you could just pick an age, and get in."

A gifted mathlete, Obrestad starting raking in cash. She found she had a flair for aggressive game play, putting players on the defensive when they were bluffing and keeping her cool under pressure. She also proved steely at keeping her real-life poker face. Logged on under the handle Annette_15, she meta-gamed her opponents, telling them she was a 23-year-old interior decorator. She didn't even risk telling her high school friends of her double life. "I was lying to everyone," she says.

While she had won money illicitly, in 2006, when she turned 18, she was finally able to legally withdraw her winnings. (Her mother knew all along and didn't mind, particularly because Obrestad was saving her cash.) Instead of blowing the money on toys, she invested it right back into her career and went to her first live tournament, the 2006 Ultimate Bet Aruba Classic. Word quickly leaked out that the notorious Annette_15 was in the house, and players took double-takes at her name tag. "A lot of them never believed I was a girl online," she says, "they thought was really a 30-year-old man."

She was happy to take their money—$13,000 of it. But there was plenty more to come. Last September, Obrestad entered the inaugural World Series of Poker European Championship, muscling through the 362 players. In poker, success isn't just in winning, it's in forging a TV-friendly identity—such as legendary poker stars like Doyle Brunson (the cowboy) and Phil Hellmuth (the brat)—that draws fans, sponsors, and book deals. Obrestad had the perfect hook—the ingénue—which she played up by flirting with her opponents between matches, then falling stone silent at the table. The cameras ate it up.

"This is my first live TV!" Obrestad confessed to Duke during the event.

"Trust me," Duke said, "it won't be your last."

Keeping sane in this business isn't easy, though, warns Kristy Gazes, a 40-year-old player from Los Angeles who has been at it since she was Obrestad's age. "If she was smart she would run for the hills now," Gazes says. "Unless she absolutely loves it, the lifestyle is not for everybody…there's a dark side to it as well. When you hit a pinnacle of success so young, it might take you years of grinding away to make that again."

Obrestad is starting to sound more seasoned—and jaded—herself. Ask her about the real Miley Cyrus and she doesn't hold back. "She's a bitch but don't tell anyone," Obrestad says. "She's too full of herself."