One of the things that people love about online poker is the ability to play at just about any time of day. To be able to play – unless you’re having a great deal of fun with the “play chips” – you must have some money in your account, however. Since “Black Friday,” that has become the major problem for online poker players.
For online poker players, not to mention online casino gamers, sports bettors, and daily fantasy sports (DFS) players, this is the highest hurdle to get over. The Unlawful Internet Gaming Enforcement Act (UIGEA) of 2006 expressly made it a crime for banks to accept online gaming transactions. There are ways, however, to fund your online account and not conflict with any banking laws. Here’s three ways for you to get some money into your online poker account so that you can get to playing on a site quicker.
BROTHER, CAN YOU SPARE A DIME?
One of the easiest ways to get about funding your online account is through a friend that is already there. Most sites allow for player-to-player transfers for at least a small amount of money so that newcomers can get on the felt. This is a usual method for players to go about funding their accounts and it is completely allowable.
There are two caveats to this, however. If you have used this method and hit a big score, there will be some holdup on any payouts by the online poker site. Most online poker sites like to see that there has been at least one online transaction by a player before they cash out, especially if it is a massive amount (and that could be just $100 or so). Always check the T&C’s (Terms and Conditions) to see just what the rules are.
Second, DO NOT go online and troll for money. There are plenty of scammers out there – and it goes both ways – who will say “wire me some money on PayPal and I’ll hook you up on (insert your favorite poker site here).” As stated, the scam can go either way – after you’ve sent the PayPal, no money shows up in your poker account or vice versa – and there is little to no recourse for the player. Unless you’re ready to lose the money for good, NEVER get involved in some transaction with a person you don’t know.
PREPAID CREDIT CARDS
Although it isn’t the usage they were created for – it is arguable that they were created for gifting purposes (OK, let’s pretend it is a legitimate reason!) – the prepaid credit cards can be an excellent way to get some money on your favorite poker site. You’ll have to test out the different prepaid cards out there and see which will work – yes, even for the prepaid cards, the credit card companies aren’t fond of funding online gaming accounts – but once you find one it is simple to use. The one drawback to the prepaid card comes when you cash out; since you don’t have any financial information between you and the site (PayPal, checking account, etc.), you’ll have to establish that.
THE OLD WAYS CAN SOMETIMES BE THE BEST
In some cases, the old methods can be the best methods. While it isn’t as immediate as a credit card or a player transaction, the old standby of Western Union is a solid resort. The transactions will take anywhere from a couple of days to a week to be processed but, if immediacy isn’t a necessity for you, then it is a way to circumvent some of the restrictions regarding financing your online poker account. It also is safe in the fact that the transaction is secure.
When it comes to cashing out, Western Union is also an excellent option. If the transaction is a large one, however, you might have to pay some exorbitant fees. There are also the legal ramifications in that, for transactions over $10,000, then they must be reported to the federal government for taxation purposes (much like a bank). Once again, it isn’t going to happen overnight, but Western Union would be a secure transaction.
SUMMARY
It isn’t like it was during the “golden age” of online poker slightly more than a decade ago. Back then, people would spot you a fiver and not think twice about it. Most credit and debit cards would work online and there were few, if any, issues in funding an online account. Now, you’ve got to jump through a few hoops to get it done, but it is still possible. And for some, it’s a necessity to go through the process lest they be unable to play poker at all (not near a casino). Try to hold to these three methods of transaction and you should be safe – at least as far as your financial transactions go!
