Funding Your Full Tilt Poker Account – Learning from the MyWebATM Debacle?

MyWebATM
MyWebATM

Americans who play poker online know that they can expect a lot of challenges when it comes to finding a poker site.  Many don’t even accept American players, but those that do are can’t receive money directly from American banks and financial institutions, thanks to the Unlawful Internet Gambling Enforcement Act (UIGEA), which was passed in law as a rider on a larger piece of legislation back in 2006.  Full Tilt Poker, for instance, is one of the easiest sites for US players to play poker online.  All you need is a Full Tilt referral code (such as GH600, so that you can get a better bonus with your initial deposit) and a way around the unfortunate legislation that ties the banks’ hands.  Full Tilt offers a few options.  While Epassporte and using an All Access prepaid Visa card are by far the most popular, Full Tilt, for a while, really seemed to push a third option called MyWebATM.

MyWebATM is now out of business, but the lesson that you can learn from this site still remains, as it came with many warning signs about how you should conduct your business where your money is concerned.  MyWebATM offered a service than the other online money transferring machines don’t– they would send you an ATM card, which you could use to do all the things that you would normally use an ATM card for.  Because they were a site that essentially moves money around from your bank account to your poker account, they were always at risk for eventual shutdown the way that other sites like them have been in the past.  When sites like this get shut down, users are in for a Neteller-like nightmare, where the site closes and takes your money with it.  Since most users were only using the service to transfer money back and forth, most poker players didn’t keep a hefty balance in their MyWebATM accounts for more than a few minutes, which failed to demonstrate to people the necessity of carefully choosing how you fund your desire to play poker online.

MyWebATM linked its account with your bank account, which meant that it could take over a week to process everything, which was never particularly helpful if you had a Full Tilt referral code that expires and the clock was ticking.  MyWebATM was not run from the United States (like Paypal, for instance), but rather from Panama and was not regulated by any particular authority, such as Epassporte was licensed by the Isle of Man.  This means that when you gave them your social security number, bank account information, and essentially all the other information that they could possibly need to steal your money and identity, you had no absolute guarantee that you’re safe.  You would think that this would scare people away, but many people just wanted to play poker online and didn’t carefully research all of their options to make sure that they weren’t shady.

When you’re ready to play poker online– you have your money budgeted and your Full Tilt referral code in hand– make sure you’ve taken the time to research your financing options before taking the plunge.  It’s the only way to keep yourself (and your money) safe.

Finding the Online Poker Site that’s Right for You

What makes the perfect online poker site?  There are many factors that determine the success of a site, but a site’s success alone is not a good indicator of whether a site will be right for a specific user.  With the number of online poker sites available, there should be a site for everyone out there– it’s just a matter of finding one that matches your needs.  Several websites, such as bestonlinepokersites.com, offer comprehensive lists of sites and what they offer.

Some online poker sites offer a large number of different styles of game, from Texas Hold ‘Em and the standard versions of draw and stud to less-common variants like Omaha High-Low and Follow the Queen.  For players who prefer less conventional forms of poker, or those who like a lot of variety, these sites can be ideal.

Other online poker sites cater to specific regions, such the United States.  Online poker playing in the US has been the subject of a great deal of legislation, and therefore a large number of US players don’t know where the law stands on internet gambling.  Although the US boasts the largest number of online players and the largest number of successful professional poker players, many people in the US are not aware that playing through online poker sites is completely legal on a federal level.  Because so many of the laws in the US are determined on the state level, a player may unwittingly violate state law by playing on a site that goes against the laws of the state in which they reside.  Therefore, it is best for US poker players to know the laws of their individual state, although if any violations are made, the online poker site is held responsible, not the player.

The challenge for most Americans who want to find US poker sites is finding sites that will accept deposits, because the Unlawful Internet Gambling Enforcement Act (UIGEA) put some serious restrictions on American banks, barring them from processing transactions to and from online poker sites.  This means that although you have a valid credit card and bank account and the deposit on the site seems to be approved, the bank is sometimes required by law to reject the transaction.  Many US poker sites have found ways around this, such as third-party deposits (such as PayPal and Western Union) or eChecks.  Many websites break down lists of online poker sites and inform readers which ones are accessible to Americans; others, like bestonlinepokersites.com, offer separate lists for US poker players.

Regardless of the challenges that Americans now face when trying to find a place on the internet to indulge their new favorite hobby, there are still many poker sites to choose from.  Each player will want something different from their online poker site, such as excellent customer support, teams and groups geared at helping the novice player, or a high volume of players.  No matter what you’re looking for, there is a poker site somewhere out there for you.

Internet Poker Sites can Give you the Best Moments

Internet Poker Sites
Internet Poker Sites

The thought of quitting your day job and becoming a professional poker is a dream for most people but sadly, it is not likely to happen for most people. The number of internet poker sites available to play on does give a great chance to play regularly but with so many people chasing the same dream, it can be difficult to win so frequently to afford to make it a full-time profession.

In reality, not too many people are upset about this, playing poker is a great way of relaxing from a hard day at work and if it provides some additional money, then it has been a great game or session for the player.

Poker is a social activity

It is easy for people to criticise internet poker sites for turning players into full-time players or people who use poker as a way of getting out of debt but this is not the case for the vast majority of online poker players. Poker is viewed as a social activity, which is fun and enjoyable to do. The pressure of big games and events are exhilarating if a player battles through to one but not everyone is cut out to do that on a permanent basis.

One of the reasons why internet poker sites are so popular though is that it provides players with a glimpse of what poker stardom is like but without the fuss and the hassle. Many internet poker sites provide poker events where players can go up against real life poker players and with a bounty on the celebrities head, there is a great opportunity to make some real money.

The thrill of facing a top name is a big prize in itself

However, the real prize comes in the kudos and adulation that would come from taking on and defeating a top class player. Playing online poker is certainly not all about the money, there are psychological benefits to be had from playing the games as well.

Another major reason for playing internet poker sites is the fact that some of them offer tournaments where you can win a seat at a top class poker event. The opportunity to play poker at a World Series event is a dream for most people and by winning games online, a player can find themselves battling the best of the poker community in plush surroundings.

With the right cards and the right attitude, some players can go far but merely getting to the event and seeing how poker stars live is a tremendous feat for most players. Playing online poker can give players memories and moments that they would not achieve otherwise.

Poker Stars Online Poker Room

Poker Stars

Poker Stars may not be just as great as live dealer poker, but is just a great online poker room offering a wide range of poker games.

With games ranging from $0.01/$0.02 micro stakes up to $200/$400 high stakes, as well as the sheer volume of poker game varieties available, finding a table is never challenge.

The diversity of games alone makes Poker Stars stand out from the rest of the online poker rooms out there. The available games at Poker Stars are outlined in the table below.

Games Available on Poker Stars

No Limit Pot Limit Cap Limit Fixed Limit High Hi-Lo
Texas Holdem Y Y Y Y
Omaha Y Y Y Y Y
7-card Stud Y Y Y
Razz Y
5-card Draw Y Y Y
2-7 Draw Y Y Y
Badugi Y

2-7 Draw comes in single draw and triple draw. In addition to the games displayed in the table above, Poker Stars also offers a number of mixed games.

Mixed Games

  • Triple Stud – All three stud games, Stud hi, hi-lo, and razz
  • HORSE – Hold-em, Omaha hi-lo, Razz, Stud, Stud hi-lo, (fixed limit)
  • HOSE – Hold-em, Omaha hi-lo, Stud, Stud hi-lo (fixed limit)
  • HO – Hold-em and Omaha hi-lo (fixed limit)
  • 8-game – 2-7 triple draw, no limit Hold-em, pot limit Omaha, limit Hold-em, limit Omaha hi-lo, Razz, Stud, Stud hi-lo

Tournament Play

For the poker players that love the intense, stamina testing tournament style of play, Poker Stars also offers a wide variety of poker tournaments to play. Tournaments vary in size and game types and can be found at any time during the day. They hold many special events in which various prizes or seats in large tournaments are awarded, as well as free-roll tournaments and fake money tables for the poker fanatics who don’t want to risk their money on the tables.

Overall, Poker Stars is a great poker room in which avid poker fans can find any game they want. The multiple choices of different poker games is hard to match on any other online poker rooms. Professional poker players often frequent the tables, and many of them have given some great advice on various poker strategies, available to anybody via Poker Stars website.