Is It Safe? & Other Q's From an Internet n00b

[tkp]

I'm an unambitious college kid - as in doesn't want to get a job - with a $350 bankroll. The local poker charity room offers $1/$2 NL hold em; I'd only have about three buy-ins. (Plus the dealers suck.)

So internet poker, with its low limit options, looks appealing - but I have some questions. Namely:

1) Is it safe? I'd be using a Visa debit card for transactions - so what about identity theft? Isn't it silly to give out all that information? And will my bank even ALLOW me to do that?

2) How the heck do I have access to the money I earn (hopefully)? Are my winnings deposited into my bank account, or what?

3) To those more experienced users, what limits do you advise? I'm a NL player, so with $350 is $.1/$.2 good? Or $.25/$.50? Pure bankroll question there.

4) Of course: what's the top online room? (I expect a lot of differing opinions) I'm talking about bonuses, software, everything!

Thanks for any information - but the big question I want answered is the safety of internet gambling when you give out credit card information.

And thanks for suffering beginner questions! (I'm sure I'll have more.)

[xDiamond_CutteRx]

1. The major sites are totally safe. I have never heard of a case of identity theft involving any of the major sites. Most banks I know of will still let you do it with a [i]debit card[/b]. Wells Fargo for sure, BoA I'm not so sure. But you can always use eChecks at PokerStars and Full Tilt.

2. The money stays in an account at the Poker site until you request it. Usually, you can receive an EFT or a paper check, and there is never any problem cashing a paper check. It doesn't even say "Poker" anywhere on the check.

3. The more inexperienced you are, the lower I would start. See how comfortable you are at $0.01/$0.02 and maybe play a little higher if you're doing OK. If that's all the money you have for Poker right now, I wouldn't start any higher than $0.05/$0.10.

4. PokerStars has the biggest player base and game selection, the most tournaments, and the most generous VIP program. Full Tilt is the second largest site, has a generous deposit bonus, and it is possible to sign up for rakeback through an affiliate like RakeFreeze (just google them). Either of those sites is fine--I like Stars, but the lack of rakeback is a turnoff to a lot of serious players who don't have the time to become a high volume player on Stars, when the VIP status is almost like rakeback. DO NOT use Absolute/Ultimate Bet/CEREUS, as they have been caught cheating their players.

[tkp]

Thank you.

Do most people do EFT? Or are checks preferred?
And does anyone know how much time it takes before you receive the check? And what does it say on it?

And doesn't it hurt the eyes to do a long poker session on the computer? And doesn't it the internet eradicate the excitement and "feel" of a real casino!?

How do you read an opponent!

Thanks to anyone who replies to this banter.

[Ensano]

obviously it's different than live poker but it really lets you get a lot of practice in the 90% of the common situations you face...

from stars (in canada at least) if the cashout amount is more than 1k they send you the check via courrier (fedex, ups, etc) and you get a tracking number that you use to track the check... and it takes 3 days...

under 1k takes maybe 3 weeks... regular mail

[LeeG]

Thank you.
And doesn't it hurt the eyes to do a long poker session on the computer? And doesn't it the internet eradicate the excitement and "feel" of a real casino!?

Between poker and work (programmer) I spend about 15 hours a day looking at a computer. If you have a good LCD monitor, it is no problem.

Live play is far and above more fun than online play. At equal money levels, live is MUCH easier (2/5NL live plays about like $.50/$1 online). Online is much cheaper with the micro stakes. When I was starting out with Omaha, I was able to play all night online for less that it costs to see a flop live.

If you can be an overall winner playing online, you will generally be an overall winner playing live. The reverse is not as often so.

As to your original question, I have no problems using a BoA debit card to deposit on Full Tilt, and no problems with eChecks on either there or Pokerstars. I prefer FT but PS has a better variety of games. Cashing out is not a problem from either site. FT has their Ironman competition for frequent players as well as a decent rakeback (I use Rakebackreview.com).

Good luck.

[tkp]

Thanks for all the replies so far.

I might as well ask about taxes - is it dubious not to declare them when you play online? Is it easier for the IRS to detect online winnings?

[xDiamond_CutteRx]

That all depends. But I just keep records and honestly report all my winnings. I use public services, so I'm not going to be a d-bag and get out of paying my taxes.

[Jauron]

The sites are outside of US, they aren't turning in tax info to US government. I think this usually falls into large deposits red flag issue.

IMO, the government is sending the wrong message if it wants to collect taxes on on-line poker. The average person thinks it's illegal why would they pay taxes on it?

[supafrey]

The sites are outside of US, they aren't turning in tax info to US government. I think this usually falls into large deposits red flag issue.

IMO, the government is sending the wrong message if it wants to collect taxes on on-line poker. The average person thinks it's illegal why would they pay taxes on it?

Someone needs to do a little research on a Mr. Al Capone.

[tkp]

Thanks for the replies so far.

Another question - I see online poker as a sort of means to an end, e.g., as a way to build up my BR to start playing in the local live games.

Is it conceivable to build a good bankroll from online microstakes, like $.02/$.04 or $.05/$.10?
How much does one usually win over time at these stakes? And what are the max buy-ins?

[Kemics]

max buying for .2/.4 is $5 and $10 for .5/.10. I think you would struggle to build a decent live roll from playing micro stakes, but if you worked your way up through it shouldnt be a problem. Question is really, how good are you at poker?

[Ensano]

max buying for .2/.4 is $5 and $10 for .5/.10. I think you would struggle to build a decent live roll from playing micro stakes, but if you worked your way up through it shouldnt be a problem. Question is really, how good are you at poker?

building a roll has nothing to do with longterm skill...


just look at pav...