Bitcoin deposits and poker in the USA - Worth it?

[winbig]

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 Does anyone have experience with this method of depositing that has withdrawn afterwards?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

 

[ACR Rep]

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

 

[winbig]

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...

$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

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? 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?

 

[The Dude]

Not an official rep

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

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.

 

[jetset]

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.

 

[winbig]

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.

Thanks for looking into that, Bryan. Brand new user, first post, etc. Sounded shilly. Can never be too certain.

 

[Simmo!]

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...

https://www.casinomeister.com/gambling-news/

 

[cheetahwind]

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.

 

[ACR 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.

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

 

[ACR Rep]

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.

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.

 

[ACR Rep]

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? 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?

let me talk to the deposit department to give you the best answer possible. will get back to you .

 

[dunover]

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.

 

[winbig]

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.

And what if a player doesn't have utilities in their name? What other documents are acceptable?

 

[winbig]

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.

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?

 

[dunover]

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?

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.

 

[winbig]

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.

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.

 

[winbig]

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

You do not have permission to view link Log in or register now.

tldr;

Nov. 18 (Bloomberg)-- The Department of Justice said Bitcoins can be “legal means of exchange” at a U.S. Senate committee hearing, boosting prospects for wider acceptance of the virtual currency.

“We all recognize that virtual currencies, in and of themselves, are not illegal,” Mythili Raman, acting assistant attorney general at the Justice Department’s criminal division, said at the hearing.

 

[ACR Rep]

And what if a player doesn't have utilities in their name? What other documents are acceptable?

the thing is to double check the address on your poker account against an utility bill

 

[ACR Rep]

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? 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?

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.

 

[ACR Rep]

an infographic about how to use Bitcoin on ACR <snip>

 

[winbig]

the thing is to double check the address on your poker account against an utility bill

Yes, I understand that...I was asking, because I don't have utilities in my name. I have other ID that proves I live where I say I do, (a recent USPS change of address verification mailed to me). Will they accept that? If not, what documents will they take?

PS: There's many cases where people don't have a utility bill in their name. 2 examples are: 1) When utilities are included in rent 2) when you live with someone, and they pay the utility bill


.....

 

[The Dude]

an infographic about how to use Bitcoin on ACR <snip>

Please do not exploit this site for marketing purposes. I know you would like to have players read about bitcoins at your casino site, but it would be more appropriate to give them neutral information about bitcoins via Wikipedia or something similar:

You do not have permission to view link Log in or register now.

.

Please read our policies concerning iGaming reps in the forum. Thanks!
https://www.casinomeister.com/forums/help/forum-rules/

 

[winbig]

It's kinda funny, because up until recently, I was clueless about the inner workings of how to buy/sell BTC. Since they had it as an option, of course I assumed that CS actually would be able to push me in the right direction. I didn't even know the difference between a wallet and an exchange.

Boy, was I wrong about CS. Long story short, they sent me on my way and told me to rummage through their pages on BTC to figure it out - which, if you check out, tell you nothing about where to go/what to do.

ACR: If you guys want someone to write a detailed tutorial about the workings of BTC, where/how to get them, where (trusted/secure/insured places) to setup a wallet, and finally how to deposit them, PM me. I'll be happy to help - for a price, of course

 

[ACR Rep]

Please do not exploit this site for marketing purposes. I know you would like to have players read about bitcoins at your casino site, but it would be more appropriate to give them neutral information about bitcoins via Wikipedia or something similar:

You do not have permission to view link Log in or register now.

.

Please read our policies concerning iGaming reps in the forum. Thanks!
https://www.casinomeister.com/forums/help/forum-rules/

sorry about that, won't be using our URLs any more

 

[SlotMonster]

Well, speaking about KYC, I would remind that many casinos do not request documents until certain amount is reached, so with Bitcoins it can be the same: if a player reached certain limit - just request their document(s). IMHO, Bitcoins is the best option when comes with real money, I mean when casinos offer both real money + crypto currencies as deposit options. And few jurisdictions already have regulations for Bitcoins.

By the way, in some of our casinos players bet more that €1.000.000 in Bitcoins every month, and the % of fraud attempts is much less than with real money deposits.