getting started with online poker

Domlf

Hey everyone...I'm looking to start playing online for money. I have done some research on various poker web site review sites. I'm still a little confused and it would be great for some advice from experienced online players.

First...choosing a website. It seems they all have similar benefits/bonuses for signing-up. I'm wondering what a good, reputable site is from your experience. Some reviews say Full Tilt has the toughest competetion, etc.

Second...depositing money into your account. I have read that using a prepaid (non-gift) credit card is the best way to go as you can't get burned by using your regular credit card or using your regular bank account you don't have to supply sensitive personal information. Any suggestions?

Third...withdrawing money from my account (should I happen to win). I am considering opening a new checking account only for poker so I don't have to use my daily account. With this new checking account I could use one of the online services like Instadebit, etc. Does this sound like a good idea?

Any advice would be great!
Thanks in advance
Mike

Hobbes

Domlf;234172 wroteHey everyone...I'm looking to start playing online for money. I have done some research on various poker web site review sites. I'm still a little confused and it would be great for some advice from experienced online players.

First...choosing a website. It seems they all have similar benefits/bonuses for signing-up. I'm wondering what a good, reputable site is from your experience. Some reviews say Full Tilt has the toughest competetion, etc.

Stick with the main sites till you get a feel for the online world. FTP is a good start but be sure to get Rakeback.

Domlf;234172 wrote
Second...depositing money into your account. I have read that using a prepaid (non-gift) credit card is the best way to go as you can't get burned by using your regular credit card or using your regular bank account you don't have to supply sensitive personal information. Any suggestions?

Moneybookers or Instadebit are great.

Domlf;234172 wrote Third...withdrawing money from my account (should I happen to win). I am considering opening a new checking account only for poker so I don't have to use my daily account. With this new checking account I could use one of the online services like Instadebit, etc. Does this sound like a good idea?

Def a good idea to have an account for poker only. It's an added line of protection for your personal account funds.

GL

BuyinBank

I agree with the bulk of what Hobbes said, though with a few exceptions.

1) I've played online since 2004 and built my first roll from $20. I went to semi-pro in 2007 and pro in 2009. I didn't do that playing at Full Tilt, as I found the games to be much tougher than those on European sites open to Canadians, but not to Americans. Full Tilt is where I tried (and failed) to make big scores in huge tournaments and it mostly hurt my bankroll.

That said, make sure that whoever you sign up with that you go through an affiliate and get either rakeback or some other incentive on top of any deposit bonus.

2) I use Moneybookers, but as of Sept 2009 a number of Canadian credit cards (TD, Royal, a couple others) have stopped allowing deposits to MBs if you select an option that your deposit is for gambling sites (someone pls correct me if this has changed). This doesn't effect players with money already online unless you need to redeposit. I've been told Instadebit is the best choice for Canadians making their first deposit.

3) Great idea to keep your poker bankroll seperate from your personal funds. If you're serious about poker, opening an HSBC USD or EUR account is your best option.

If you have any questions feel free to PM me.

Cheers,
Aaron

Domlf

Oh...I didn't consider the currency issue. Do you need a US currency account to make a deposit? Would Instadebit do a currency exchange? Do you even need to make a deposit with a credit card if you set up a dedicated bank account and use Instadebit to transfer the deposit?

I plan to start with $600 for the full deposit bonus and play something like a 1/2 or 2/4 no-limit game. Also, maybe the odd low stake ($20-$100) sit'n go or freeroll tournaments.

I think I'll avoid Full Tilt (although I like the large number of players and tables always available). I think it would be best for a casual player like me to avoid the highly competitive web sites.

Hobbes

Domlf;234206 wrote I plan to start with $600 for the full deposit bonus and play something like a 1/2 or 2/4 no-limit game. Also, maybe the odd low stake ($20-$100) sit'n go or freeroll tournaments.

$600 is not rolled for 1/2 NLHE. Even buying in for 50BB that is only 6 Buyins. Hope you can reload easily. :)

Have a read:

Basic Bankroll Management

compuease

Domlf;234206 wroteI plan to start with $600 for the full deposit bonus and play something like a 1/2 or 2/4 no-limit game. Also, maybe the odd low stake ($20-$100) sit'n go or freeroll tournaments.

You're going to START off playing 1/2 and 2/4 NL online? If that's the same limits as you play live be prepared for a huge shock... The play at 1/2 online is Waaaaaaaayyyyyy tougher than live... 1/2 live is probably similar to 10/25 cent online and $600. is not enough at 1/2 unless you get extremely lucky.. likely busto very soon and we won't hear from you again...
You don't need a credit card if you are going to use instadebit linked to a bank account. Set up a separate US dollar account and link that to instadebit and whatever poker sites you play on.

Click on the links to the right of this page to download and create your poker accounts.

BuyinBank

Hey Domlf,

When I opened my first eWallet in 2004, I opened a CAD account and ended up paying a lot of fees for deposits and withdrawals to poker sites. I was playing on multiple sites and moved money around quite a bit.

I found it was much better to have an eWallet that was in USD, so I only had to pay a fee when I made a deposit to my eWallet from my credit card (hard to do now anyways). I also opened a TD USD account, so my withdrawals from the eWallet also were exchange fee free and I could make currency conversions on my own schedule.

I've never used Instadebit, but my understanding is that it links directly to your bank account and acts like a debit card. It issues eChecks to the poker room and they cash them out. If you're account is in CAD, you'll be charged a exchange fee, so if you have a USD account (the best being through HSBC) you'll save yourself some money. It's not a necessity, just a small way to save on fees.

Also, Hobbes beat me to it, but $600 for $1/2 or $2/4 NL is nowhere near enough from a bankroll management standpoint. The article he linked to is probably the best on the web.

With $600 I'd suggest either playing NL $0.10/0.25 with 100BB buy-ins or NL $0.25/0.50 with 50BB buy-ins.

Cheers,
Aaron

Domlf

Like I said...$600 to start...the casino I play at (cascades, Langley) has a 1/2 game with a maximum buy-in of $300...so I could go broke twice...for me the idea is to give it a shot, if I keep losing it all after a few tries I'll have to rethink the whole thing...of course I plan to keep my day job;-).

Domlf

yeah, I guess I'm a little optimistic...to be realistic I better try out the online game a little before playing 1/2. I assumed it would be like playing live where about half the time I win money and rarely lose the whole stack (sometimes start with 200 and go sit at the limit table once I'm down to 50 or so). I'm sure I'll have to learn the hard way but isn't online a lot looser than live? I really don't know, guess best thing is to try it out.

I'm going to set up the account Thursday...I'll do it in US funds...if Scotia can't do it, I'll go to HSBC. I still need to choose a poker site...suggestions?

compuease

Domlf;234256 wroteI'm sure I'll have to learn the hard way but isn't online a lot looser than live? I really don't know, guess best thing is to try it out.

Is that what you think? A typical 1/2 table online is probably running at under 22% vpip, live is often double that. So nooooooo, online is NOT looser than live, how could you even think that... Even rock garden 1/2 live tables are way looser than 10/25 cent online.. However the preflop raises live are much larger than online..

Domlf

I'm checking out full tilt and they offer a 100% first deposit bonus and entry to a 100K tournament for free. It doesn't say anything about a rakeback incentive...how do you get these benefits?

DennisG

Domlf;234211 wroteLike I said...$600 to start...the casino I play at (cascades, Langley) has a 1/2 game with a maximum buy-in of $300...so I could go broke twice...for me the idea is to give it a shot, if I keep losing it all after a few tries I'll have to rethink the whole thing...of course I plan to keep my day job;-).

lol..not being an ass...but, the Cascades game is horribly (but oh so wonderfully) soft...well, most games on the West coast are...but Cascades I found especially soft (and their dealers the shittiest). You are in for a shock....Online is not the same game my friend, as others have said...10/.25 is about the same online as 1/2 live.

I can't comment on the bankroll management aspect as I don't follow the "rules" myself...just be ready for a different game.

Welcome to the forums, always nice to see more Westerners!

Rakeback=rakebackpros.com I think is the site..

schabs

www.rakeswap.com might have a deal on FT like 27% i believe

sydeburn

I'm in a similar boat, although I'll likely start with less bankroll.

Are there any rakeback reviews around here? Forum search didn't turn up much.
Noticed a couple other sites like pocketfives offering rakeback as well.