Updated: The Correct Way to Fund Poker Sites

The best way to do it is to find a friend that already can fund the poker site and have him transfer you money.

A 10% commission should be expected to be paid to your friend, however. It usually costs around 9% if you go thru the hassle of setting up your own accounts with internet banks. So an extra 1% is a small price to pay to avoid the hassle.

I have heard some credit cards work with some poker sites. But you have to send the poker site a picture of your driver’s license, both sides of the credit card, the credit card number, and that small number off the back. To cash out after using a credit card, the poker site will sometimes ask for a copy of your passport also. Hell, might as well send them your 401K info while you are at it. I don’t like that option.

With the closing of Netteller to US players, some new internet banks have entered the void. Ah, capitalism! It always works. If you are going to set up your own accounts, try using both ePassport and eWalletXpress.

ePassport is used by most sites still accepting US players (see the list of “Where I Play” on this site).

eWalletXpress is used at BoDog Poker, which also happens to accept sports betting. BoDog is the only sports betting site I have found in my research - for news information only - using an internet bank for US players at this time.

If you want to fund your poker sites yourself and have your profits transferred electronically back to your bank, this is the safest way to do it:

Step 1. Open a checking account with your internet poker stake money in a bank that you do no other business with. This will be your ‘poker’ account bank (PB).

Do not use a savings account as those accounts do not allow transfers.
For the sake of discussion, let’s say you open your PB with $500.

Step 2. Open an internet bank account (IB) on-line.

Step 3. Transfer $200 to the IB using the account and funds you deposited in your new PB.

Be sure to leave the minimum required in the checking account so you can transfer winnings back.

Step 4. Once it has all cleared, transfer $100 to your selected poker site using the IB.

This way, the poker site can only reach back to the IB and the IB can only reach back to your poker checking account.

NEVER use your main accounts for anything on-line. I am pretty sure the IB’s and the poker sites I suggest are on the up and up, but better safe than sorry.

NPP strongly suggests that Poker Stars be a newbie’s first stop. It is simply the best site out there. Then try some of the others for a change of pace, scenery or the infamous ‘deck change’ or ‘seat change’.

This is just another friendly public service announcement of NPP. - Faldo