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Bitcoin deposits and poker in the USA - Worth it?

Discussion in 'Casinomeister's Poker Room' started by winbig, Jun 30, 2015.

    Jun 30, 2015
  1. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    I see that several USA-friendly poker rooms now offer BTC deposits...Americas Cardroom, Black Chip Poker, Full Flush Poker, etc.

    Is it really worth it? Does anyone have experience with this method of depositing that has withdrawn afterwards? If so, did they require you to cash out via BTC? I know the market could tank at any given time, and one takes the risk of cashing out worthless virtual currency. I still remember last year when BTC was at its peak of ~$1k/BTC....now it's worth almost 75% less than that...lol


    Thanks for any input :cheers:
     
  2. Jul 3, 2015
  3. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    Hi,

    I'm an official ACR Rep and indeed depositing with Bitcoin is one of the best ideas you could ever have :) .

    Bitcoin is the new Neteller, because, you can deposit into Americas Cardroom within minutes and cash outs take less than 48 hours.

    Also there are no fees involved when depositing/cashing out from/to Americas Cardroom using the Bitcoin

    Bitcoin Deposit Limits

    Minimum Single Deposit: $5
    Maximum Single Deposit: $1,000

    $1,000 per day, up to 2 transactions per day
    $4,000 per week, up to 4 per week
    $8,000 per month, up to 8 transactions per month

    Bitcoin Payouts

    Minimum payout: $25 USD
    Maximum payout: $5,000 USD
    One payout per day

    please don't hesitate to let me know if you need any further information
     
    1 person likes this.
  4. Jul 4, 2015
  5. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    Welcome!

    That's nice to know.....

    What I'd also like to know, is if the BTC market ever did tank (or lost a significant amount of value), would players be forced to withdraw via BTC, or would they be able to make a withdrawal via other USD methods? If we're forced to withdraw BTC, it'd be like playing both the stock market and poker at the same time.

    and...

    So you're saying that we can can make 2 transactions per day, but yet only 4 per week and a maximum of 8 per month? :confused: I can understand the 2 per day limit, but why such low limits for week/month? Or am I reading between the lines, and you mean 2 transactions of $1k per day, 4 transactions of $4k each week, etc?
     
  6. Jul 4, 2015
  7. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    Not an official rep

    As far as I can tell, you are not the rep for this company. Please do not solicit for player information on this website without going through the proper channels to become listed as a rep.

    To begin with, you need to register your forum account with an email connected to your business. You need to forward this to me as soon as possible.

    Further, bitcoins opens a big can of worms if the proper KYC screenings aren't being done. Being anonymous is not always a good thing - especially with gambling.
     
    3 people like this.
  8. Jul 4, 2015
  9. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    IMO you need to be very cautious with Bitcoin, both as operator and player.

    A recent illustration has been the operator taken for a million dollar ride by a player, and the anonymity of Bitcoin is making it difficult to track him down, according to press reports.
     
    3 people like this.
  10. Jul 4, 2015
  11. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    Thanks for looking into that, Bryan. Brand new user, first post, etc. Sounded shilly. Can never be too certain.
     
  12. Jul 4, 2015
  13. Simmo!

    Simmo! Moderator Staff Member

    Occupation:
    Web Dev.
    Location:
    England
    2 people like this.
  14. Jul 4, 2015
  15. cheetahwind

    cheetahwind Wind Blade Maker MM

    Occupation:
    Wind Blade Maker
    Location:
    Iowa
    The answer I got from America's Card Room and Black Chip Poker. Was that if you deposit via Bit Coin. That you could cash back out via Bit Coin, or one of there other methods if you didn't like the fluctuation price at the time.

    Otherwise I understand, this may make me more less of a fan favorite. Other than a player exposing a glitch in the system and exposing it. That to me would have given the operator the right to refuse winnings, because most software providers have a all glitches result in a voided win. Just maybe a refund of deposits at most. Why are Bit Coins so horribly frowned upon here?

    I mean compared to any other accredited casino on this site. I've received every single bit coin casino cash out to my bit coin wallet in less than 30 minutes. Then on a good day I can have my coins cashed out in under 2 hours. On a day like a Saturday or Sunday I might be limited to my cash out options, and have to wait until Monday. Otherwise the longest I've had to wait for a coin cash out was 4 hours and that was because the bank had a few questions to me about a $8,000 incoming wire. I just explained it was for the sale of coin. Then the bank cleared it immediately.

    Why isn't there more support for this currency, that has proven to me over the past 8 months. That it has a solid performance for fast cash outs. Compared to the standard head aches of receiving a standard wire from a casino, a check that may bounce from Canada, or even worse yet having Money Gram or Western Union blocking you for getting too much money.
     
    2 people like this.
  16. Jul 5, 2015
  17. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    Hello,

    thanks for the clarification. We are the Social Media Department for Americas Cardroom and will be sending the email as requested. In fact, will be sending you a PM to better understand the requirements :)

    once again, thank you
     
  18. Jul 5, 2015
  19. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    Couldn't agree more, that's why even though if a player deposits using Bitcoin at the moment of cashing out we will be requiring a copy of the ID and utility bill as our standart security procedure.
     
  20. Jul 5, 2015
  21. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    let me talk to the deposit department to give you the best answer possible. will get back to you .
     
  22. Jul 5, 2015
  23. dunover

    dunover Unofficial T&C's Editor CAG PABnononaccred PABnonaccred PABinit mm3 webmeister

    Occupation:
    International Money Launderer
    Location:
    the bus shelter, opposite GCHQ Benhall
    Sorry, but Sh*tcoins don't do it for me.

    The currency of kiddie-fiddlers, drug exporters, launderers, the under-aged and 'dark web'.

    Give me the audited folding-stuff I can withdraw from the machine any day. For the reasons above I predict that LGAs will prohibit their licensees to deal with them in the near future.
     
  24. Jul 5, 2015
  25. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    And what if a player doesn't have utilities in their name? What other documents are acceptable?
     
  26. Jul 5, 2015
  27. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    I take it you're not from the USA? At least in the past, Americans had the options of gift/reloadable cards such as Netspend (which worked everywhere), but alas, those days are long gone. It's not as simple as simply using your bank debit card, either. Just recently, I had a couple gaming transactions from my bank that actually went through, and low and behold, I found out my card was deactivated. (Keep in mind that I used this very same card last year and it flew under the radar.) When I called to ask why, they said I was using it for online gaming, gave me a stern warning, and told me that if I used it for that purpose again, my debit card would be canceled....forever.

    We can't use paypal. We can't use Neteller/Moneybookers/etc. All gift cards we have the option of buying specifically say "for use within the USA/Canada ONLY".

    And, as americans, why would we care if the LGA blocked bitcoin transactions?

    What are our other options? :rolleyes:
     
  28. Jul 5, 2015
  29. dunover

    dunover Unofficial T&C's Editor CAG PABnononaccred PABnonaccred PABinit mm3 webmeister

    Occupation:
    International Money Launderer
    Location:
    the bus shelter, opposite GCHQ Benhall
    Yeah, I understand the USA bit because it's illegal bar a few states for banks etc. to finance gaming transactions. All the big providers like IGT/MG/Playtech/netent already prevent sites offering the US their games so your choices are RTG/Top Game and other minor less generous RTP games of course licensed in banana republics which won't give a toss and that applies to whether they pay you too. If LGAs prohibit sh*tcoin transactions then it will marginalize and sites that do use it, which will inevitably be those you use in the US.

    It won't then take 5 minutes for the Feds to prevent the purchase or sale of paedo-pennies by US bank customers because their increase in use will be obviously linked to bypassing gaming transaction rules. They'll get you in the end. It's a shame Western Union can't carry the can as it's less traceable, but they are a US company so even there you'll be stuffed.
     
  30. Jul 5, 2015
  31. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    Understood.....the thing is, WU/MG is a viable option, but it's just so damned expensive when you count in their fees to send international payments. For a $100 deposit, you're looking at 12% juice (at least.) And if you're a low-roller, forget it. Most all casinos/poker rooms that accept this form of deposit require a minimum of $50. At least there's some places that will reimburse players for fees incurred using this method, if it's at least $100.

    As far as BTC go, if you're using a legitimate exchange/wallet, it's hardly anonymous and can be traced back to you at any point, so I don't see where the gov't would have a problem with it (other than its uses, but hey, you can get around the formalities at a bank just the same).....For instance, a few BTC wallets that I've seen actually have you take a *video* of yourself, showing the credit/debit card used to buy coins with, and various other identifying methods, before you can even make a purchase.

    Aside from gambling, there's plenty of legitimate uses for bitcoins. For example, there's a huge & popular gift card site (non-Visa/MC/AMEX) that accepts bitcoins (Gyft.) And as for anything that can be profitable, of course there's people that are just going to buy/sell/trade them all day long, just like the stock market.
     
  32. Jul 5, 2015
  33. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
    Bum
    Location:
    Pennsylvania
    Here's an interesting article by a reputable source, and not some fly by night news agency. A good read.

    You must register/login in order to see the link.

    tldr;

     
  34. Jul 6, 2015
  35. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    the thing is to double check the address on your poker account against an utility bill
     
  36. Jul 6, 2015
  37. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    yes, that means that if you do the daily max, you can't do more that day until the 1st transaction clears 24 hours. Then you will have that available to do another transaction. Limits work with what they reach first (not sure if that makes any sense) and they clear as they reach the 24 hour mark or the 7 day mark or the 30 day mark.
     
  38. Jul 6, 2015
  39. ACR Rep

    ACR Rep Banned User - Exploiting the forum for marketing p

    Occupation:
    Online Poker
    Location:
    Costa Rica
    an infographic about how to use Bitcoin on ACR <snip>
     
    Last edited by a moderator: Jul 6, 2015

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