Even though commerce on the Internet has been around for easily 15 years there is still a lot of tepid speculation concerning depositing on an online poker room. For those who absolutely refuse to deposit for fear of it can partake in a free poker bankroll deal from sites like Pokerspace.com, but for those who are ready to start either seriously playing or want to take up online poker as a recreational hobby here is how to make your first poker room deposit.
What to Use to Transfer Money to a Poker Room
Most major poker rooms give potential players a number of deposit options. These range from direct credit card charges to bank transfers and even e-wallet services. Each has their pros and cons, especially for American based players where depositing money on an online poker room can be troublesome, but not impossible.
The major means of depositing money on a poker room is through a credit card. There are a number of different ways poker rooms let you use credit cards, such as Visa check cards, debit cards, and regular Visa and MasterCard. This being the most used form of first time depositors, banks have targeted credit cards in complying with new U.S. legislation that prevents funds from a U.S. financial institution to an online poker room. It’s not illegal to play online poker, it is simply more difficult to transfer money to a poker room.
It has been noted by many online poker players that the main poker room that has been effected by the new U.S. legislation that began on June 1, 2010 is the largest in the world, PokerStars. Other major rooms like Full Tilt Poker, Carbon Poker, Absolute Poker, and the Cake Network appear to have been mostly ignored.
Outside of credit cards there are a number of other transfer options, the most popular being e-wallets. E-wallets are a series of web based companies that act as a third party transfer company. Potential players load money onto the e-wallet either through a credit card or bank transfer and from there the e-wallet can be used to transfer money to any number of rooms. Some online poker rooms have different e-wallet depositing options but the most popular are Moneybookers, WebMoney. eWalletXpress, and EntroPay.
Determining How Much to Deposit on a Poker Room
After determining which deposit method is best, the next step is figuring out how much to actually deposit. The first issue to think about is what kind of stakes will be played and why to play online poker. For those who are recreational first time players keep the first deposit under $100. There are a lot of excellent low buy-in tournaments, Sit’n’Go tournaments, and small stake cash games to be played. The chances of building a solid bankroll from less than $50 is very possible. A recent PokerStars pro proved that players can make $100,000 in less than a year by starting with just $5.
For more serious players who are contemplating becoming an online poker pro there is a lot to think about. Very few players ever make enough to grind the virtual poker tables day after day to make a living. If those players still insist on playing for a living consider beginning with $250 and moving up the stakes as winning percentages move higher and higher. Poker has a lot of variance, making it impossible to win every time. A lot of patience is required.
Withdrawing From an Online Poker Room
For U.S. players the safest withdraw option is to be issued a check from the poker room. It is possible to attempt a direct bank transfer, but these can be difficult. No matter what withdrawing isn’t normally a problem. Identification will have to be sent to the poker room, but the money is due to any player who requests it. For those outside the United States there are a number of great options. Withdrawing straight to an e-wallet or a bank account can take a few days, but isn’t normally a problem. Again, proof of identification is required, but that’s part of the poker room’s security.
If depositing is still an issue, either for U.S.-based players or those first time online players unwilling to front the money themselves, a free poker bankroll is the best option. Pokerspace.com does not require an bank information and is risk free. No matter what, online poker is becoming part of mainstream entertainment and commerce and rooms are always looking for new players, but remember to have fun and good luck.