Posts Tagged ‘poker rooms’

Popular Online Poker Currency Bitcoin watched by US Govt.

Sunday, March 24th, 2013

Bitcoin (a.k.a. bitcoins) has become a very popular currency in the online poker world. Bitcoin isn’t backed by a central bank or country, and it can be sent across the internet anonymously through “wallets.” This allows poker players to easily make deposits and withdrawals from poker rooms without worrying about huge delays and hassles.

Unfortunately, it looks like the ease of use aspect could be gone because the US government has been focusing on bitcoins. Furthermore, the American government has applied money laundering laws to virtual currency in a move designed to target Bitcoin.

The Wall Street Journal discussed the money laundering laws by writing, “online cash will now be regulated in a similar manner as traditional money-order providers such as Western Union. They would have new bookkeeping requirements and mandatory reporting for transactions of more than $10,000.”

At first, this may seem like another selfish move by the US government to hurt the online poker industry since they’re not drawing tax revenue from it. However, applying money laundering laws to Bitcoin and other virtual currencies is more about eliminating drug-based crimes. The WSJ discussed both the legal and illegal side of bitcoins with the following:

Bitcoins can be used in a host of legitimate transactions—for example, website Reddit allows users to upgrade services using bitcoins and blog service’s store accepts them as a form of payment. also lets bitcoin savers pay for deliveries through Domino’s and other pizzerias.

On the other hand, at least one online service takes bitcoins as payment for illegal drugs, according to a Federal Bureau of Investigation report last year. Bitcoin’s backers point out that criminals will use any currency for money laundering or illegal purchases.

After the new stipulations placed on virtual currencies, the value of bitcoins has already fallen from $60 a unit to $49. Of course, this doesn’t mean that the currency will suddenly become obsolete. However, its use among US online poker players may drop significantly. Seeing as how many US-friendly poker sites are relegated to paper checks, which can take weeks to process/send, this definitely isn’t good for the game.

How to Choose a Real Money Poker Game

Saturday, September 19th, 2009

Choosing a place to play poker for real money online can be challenging. After all, there are literally hundreds of online poker rooms to choose from. I’m not here to push any specific online poker room on you, but I will offer some tips to help you choose one for yourself.

The first thing you need to think about is which poker games you want to play. Do you want to play Texas Hold’em? Omaha Hi-Lo? Caribbean Stud? Choose a poker room that offers the poker rules of your choice. Many sites offer multiple games, but few offer all the variations. Looking into the welcome bonuses as different poker rooms can also help you narrow down your selection.

Once you have narrowed things down you can try out several online poker rooms to see which strikes your fancy. Try our free poker or Most poker rooms allow you to download their software and play a free game so check out the interface and design and find the experience that you like best.

Once you’ve chosen an online poker room that suits you, watching some real money games before jumping in can be helpful. You want to see what kind of other players you are up against-are they aggressive? Loose? Tight? Check statistics to find the average pot size and other information about a table before you jump in.

Following these steps should lead you to a great real money poker experience online.