Poker Deposit Methods

Read also Where to play poker online?

Each poker site offers different deposit methods, although a few options are becoming more or less standard across the industry. When you make your initial deposit, be aware of account minimums (and maximums) and possible transaction fees.

The first thing you learn when attempting to make an first deposit to an online poker site is that it's not as easy as it seems. In fact, you'll likely have to jump through quite a few hoops to get started. Unlike most other online transactions, you cannot (usually) just type in a credit card or debit card number to buy virtual chips. There are a couple of main reasons why setting up an account is so complicated.

First is that the major credit card-issuing banks do not facilitate online gambling transactions of any kind. (Banks often refer to these types of transactions as e-gaming transactions). This was an industry-wide change in policy that occurred a few years back. Credit card transactions are, of course, the most common way of paying for things online. Security and technology has progressed to the point that it is statistically safer to use your card online than in a retail store.

However, because credit card companies often compensate cardholders in cases of theft and fraud, it was deemed too risky to get involved with online gambling. There is also the concern that facilitating the deposit transactions could be deemed somehow illegal in the U.S. In any case, you're unlikely to be able to deposit money directly into a poker room account with any credit card issued by a major national bank. (It's possible that credit or debit cards issued by smaller local banks may work. Check your bank's policies if you're not sure).

And as discussed, wherever there are games played for money, there will be cheaters and frauds looking to work an angle. As a result, the online cardrooms and related third-party companies are very security conscious. There are usually several layers of authentication required to move real money into a poker room account. The poker sites want to be sure you are who you say you are and that the money you're playing with is really yours.

So be prepared to divulge personal information - your mailing address, credit card information, and so on. In fact, quite a few third-party companies require you to speak personally to a representative before finalizing an account. Get used to the idea that you'll have to provide a lot of information to set up an account. If you're not comfortable doing so, you don't have many options. Some sites may allow you to deposit funds by bank check or wire transfer, but this is slow and often prohibitively expensive.

While it can be a bit of a hassle, it's generally a good thing that setting up an online poker room account requires some effort. It should be a carefully considered decision, after all, and the extra security measures are worth a little hoop-jumping.

So you've decided to deposit some real money into an online cardroom account, and you've chosen a poker site that you're comfortable with. There's still the task of getting from Point A to Point B. Several approaches are available for moving your money into a poker room account.

Just as you would research and examine the final destination of your deposit, you also want to look at the method by which you are making the transaction. The most common and established way of paying for something over the Internet is to use your credit card. Unfortunately virtually all of the major credit-card-issuing banks have adopted policies prohibiting transactions for online gambling - poker included. There is still enough of a gray-market stigma to online gambling to scare off major corporate interests.

Probably the most common method of depositing funds into an online poker account is via a third-party service, sometimes called a financial processor. Simply put, these are middlemen-type services that allow you to deposit money from a credit, debit, or checking account into a new and independent web-based account. You can then take the funds from this new account and deposit them into your poker room account.

Some third-party services process credit card transactions, and some only process deposits via your personal checking account.These latter services are sometimes referred to as eCheck services.
All of the major online poker sites provide detailed descriptions of third-party services they offer.

Once your money is in place in your third-party account, you must move it yet again to your poker room account. You do this via your poker site cashier page. Choose as your deposit option the third-party service in which you have your account and enter the amount you wish to transfer. You're asked to provide your username, password, and whatever other security information established by the service. Provided that you have sufficient funds in your third-party account, the cash is transferred to your poker room account instantly.

Keep in mind that you don't have to move all of your cash into your poker room account - you can always keep some back in reserve.

If you want to avoid third-party transaction hassles, arrange a direct wire transfer from your bank to the poker site. All the major poker sites facilitate direct wire transfers.