05-28-09, LearnTexasHoldem:

How Do I Withdraw Poker Winnings?

I only play live games but want to play on the Internet too. Being cautious, how does one get one's money OUT of these internet games? Do they credit a bank account, mail you a check, or? And where are the rake amounts specified, BEFORE signing up and downloading software?

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Thanks!

Gecko

Hello Gecko

There are quite a few ways to withdraw money from poker sites. However, if you live in the U.S., the options are often a bit limited. To make sure what withdrawal (and deposit) methods a site offers, study that particular site's home page. All serious poker rooms provide information about this.

European players can usually use all the major credit cards as well as online-payment options such as Neteller, Moneybookers and Click2Pay when transferring funds. Although U.S. players usually are allowed to make deposits with Visa, Mastercard and Diners Club, they generally have to use checks or e-checks when withdrawing money. Neteller and most other online-payment solutions don't allow U.S. customers.

What a poker site takes out in rake is specified on the site's home page but the percentages don't differ that much between sites. Let's take Poker Stars as an example (the rake on PS is around industry average).

In No Limit games Poker Stars take 5 % in rake. If a pot becomes $5, the site will keep $0.25. But the rake will never be higher than $1 or $3 depending on the amount of players at the table (short-handed games are cheaper).

Regards,
Clark Jensen
Learn Texas Holdem

 

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