Online Poker Funding

Has online poker playing really brought the game of Texas Hold’em to the masses? There are a select few savvy web surfers have no problem finding, joining and funding online poker accounts. Then there are the rest of us, poker enthusiasts eager to get online and test our skills. We are bursting with the thoughts of being able to log in and play 24/7. Until we actually try to make that initial deposit, then the dreams come crashing down faster than our hopes of winning a pot with a busted flush. Yes, there are thousands of people playing poker online, but there are many more that are having a difficult time depositing money.

Declined credit cards, confusing forms and invasive security procedures all add to an already overwhelming process. The question that remains is - what are my choices? The answer is not always black and white. Some people have more options than others. Depending on where you live and bank, playing online could be as easy as a credit card approval or as difficult as a quantum physics exam.

Luckily the wide world of online commerce has given us several options that allow everyone the opportunity to quickly and safely deposit money. When it comes to banking options you have three basic choices. Credit cards, certified bank checks or e-cash companies.

Ninety-nine percent of online poker rooms will accept credit card deposits. Unfortunately that doesn’t mean such a high percentage of players will actually be able to fund their accounts with credit. Depending on your location and the government laws of your area, you may not be permitted to make a charge to a gambling company. Banks prevent the charge from going through by attaching a gaming code to the company you are attempting to make the purchase from. If the company has a gaming code, your card will be declined. This happens with nearly 60% of all credit card transactions. It has nothing to do with your credit limit or ability to pay; it is simply the banks choice not to approve such charges.

Adding to confusion of credit card depositing is the fact that even if you can make a deposit you may not be able to withdraw your winnings as easily. All online poker rooms have a policy of only being able to credit back to your card the amount of your original deposit. From there you can leave your winnings in the poker room or you can request a money transfer to an e-cash company or a bank draft.

Sending a bank draft is a great option if you don’t have a problem waiting a few weeks to get in the game. Bank drafts can sometimes take several weeks to arrive.

It is a very safe, secure method and unlike credit cards it assures you a level of self regulation. By using a bank check you are not gambling on credit. Hopefully you are only using the amount of money you can afford to play with. This option is the perfect fit for several people. As with credit cards, the hassle comes on the back end after you win. In order to receive your winnings you will need to request a check from the poker room which can take days, even weeks.

Solutions do exist for those of us looking for “nearly” instant gratification. The boom in e-commerce has made e-cash, or electronic cash companies, a thriving industry. E-cash companies are the logos on the banking center page of your online poker room that you see everywhere but may not be familiar with Companies such as Neteller, FirePay and PrepaidATM are leading the way in offering gamblers another alternative to credit card hassles and bank draft downtime.

Once you open an account with an e-cash company it functions as your online bank account. Keeping your information private and allowing you to move money quickly and cheaply to anyone from Ebay merchants to your favorite poker room. Does this sound to good to be true? As with everything, there is a catch. E-cash companies are notorious for confusing new players with extensive registration forms and invasive security protocol. Many argue the security procedures are there to protect the player and should be looked at as a benefit. These companies must abide by government security regulations to ensure their service is not being used to launder money or other illegalities.

If you decide to use an e-cash company for your online poker needs, plan on at least two days to get everything set up and approved. It is not instant, but it is faster than waiting for a check to clear. It is also much more reliable than trying to get your credit card approved. Once your e-cash account is set up, many of the hassles talked about above will no longer apply to you. Since you are funding an independent account with a separate company, you will have no problem using any credit card you choose. You will also have a wide variety of options not offered by online poker rooms including direct deposit from your checking account and Western Union.

A funded e-cash account makes depositing online as easy as writing your name. Since your funds are already confirmed, you simply select the e-cash company logo from the banking options on the site and key in the amount to be transferred. Instantly you are ready to get in the game.

Unlike credit cards, you can request any amount to be withdrawn. You will no longer be limited to only receiving your original deposit. Since you have already gone through the sign up process, your account is established and you can now be paid within minutes rather than weeks. Just as instantly as you made your deposit, you will be able to withdrawal and have your winnings.

While opening and making a deposit is by no means a walk in the park for new players, it is comforting to see that there are options. At first it may take some time and even a few calls to tech support, but once you get in the game you’ll realize the ability to play real money online poker with people from around the world is well worth the hassle of making that first deposit.