Would you rather keep your money in a poker site instead of the bank?

Chebchoub

Chebchoub

Legend
Platinum Level
Joined
Feb 21, 2019
Total posts
2,258
Awards
2
MA
Chips
159
As we know, banks will deduct the account fee every month in addition to the annual insurance and other fees. For the poker site, the transfer fee will only be deducted once when withdrawing money from the site to the bank. Are these poker sites safe? And what is your opinion of this proposal?
 
D

DS3

Legend
Loyaler
Joined
Sep 9, 2019
Total posts
7,440
Awards
1
GB
Chips
189
As we know, banks will deduct the account fee every month in addition to the annual insurance and other fees. For the poker site, the transfer fee will only be deducted once when withdrawing money from the site to the bank. Are these poker sites safe? And what is your opinion of this proposal?

No bank deducts such fees from my accounts. No, I would generally prefer to keep money in the bank...however...as I have been concentrating on building bankrolls, I have yet to make any withdrawal from any poker site. I have faith that I play on the more responsible ones but I do factor in the idea I could get burned by a sites financial failure at any moment.
 
lcid86

lcid86

Legend
Loyaler
Joined
Feb 28, 2009
Total posts
3,191
Awards
9
US
Chips
418
Bank all day. Lost more money at poker sites than I ever did at a bank
 
Blackchipp

Blackchipp

Rock Star
Silver Level
Joined
Apr 2, 2021
Total posts
153
Chips
6
yes, is a good thing, but let your money in crypto coins is better than pokersites and so much better than banks... be your bank. ;)
 
TulasMoreno

TulasMoreno

Visionary
Platinum Level
Joined
Feb 6, 2016
Total posts
924
Awards
3
MX
Chips
110
No, it has more risks to keep it at a pokersite than in a bank!
 
Chebchoub

Chebchoub

Legend
Platinum Level
Joined
Feb 21, 2019
Total posts
2,258
Awards
2
MA
Chips
159
No bank deducts such fees from my accounts. No, I would generally prefer to keep money in the bank...however...as I have been concentrating on building bankrolls, I have yet to make any withdrawal from any poker site. I have faith that I play on the more responsible ones but I do factor in the idea I could get burned by a sites financial failure at any moment.

Yes, it is. I think that the only potential risk is that the poker account will be frozen, and the most important thing is the difficulty of recovering it. This requires a lot of time and complicated procedures. As for me, the banks in my country do not hesitate to deduct fees and taxes, and anything else
 
Chebchoub

Chebchoub

Legend
Platinum Level
Joined
Feb 21, 2019
Total posts
2,258
Awards
2
MA
Chips
159
Bank all day. Lost more money at poker sites than I ever did at a bank

It's okay my friend, this always happens when we get addicted to poker, it's a very fun game and dangerous at the same time, try not to let poker control you, you must control it
 
V

vladikov

Rock Star
Silver Level
Joined
Dec 20, 2014
Total posts
235
Awards
1
Chips
5







I used to read that some players lacked money from their poker accounts, I had a bankroll of 2000 + $ in my pokerstars account, but they never ran out of money, so at this stage I don't bother to keep them in my account.









ZPfBTNanAAAAAElFTkSuQmCC





















 
Chebchoub

Chebchoub

Legend
Platinum Level
Joined
Feb 21, 2019
Total posts
2,258
Awards
2
MA
Chips
159
yes, is a good thing, but let your money in crypto coins is better than pokersites and so much better than banks... be your bank. ;)

Yes, it is a good idea for those who have excess money and do not want to pay taxes on it, and have complete confidence between themselves and the poker site, I think there are players who benefit from this idea
 
Chebchoub

Chebchoub

Legend
Platinum Level
Joined
Feb 21, 2019
Total posts
2,258
Awards
2
MA
Chips
159
No, it has more risks to keep it at a pokersite than in a bank!

Yes, it may be more risky to keep it on a poker site, but I think the risk here changes from one poker site to another, or so from one player to another.
 
Chebchoub

Chebchoub

Legend
Platinum Level
Joined
Feb 21, 2019
Total posts
2,258
Awards
2
MA
Chips
159
I am not talking about professional players here, they are credible on the part of poker sites, they are active in the game, plus their money is in constant movement, some of them have more than $50k in their poker account or much more than that. I've already tracked some pros on pokerstars and 888Poker playing in more than five tournaments the lowest buy-in was $1050, and the biggest buy-in over $10,000 at the same time, this shows that there is no risk of keeping money in poker sites.
 
Djon25

Djon25

Visionary
Bronze Level
Joined
Jan 1, 2020
Total posts
725
Awards
1
UA
Chips
14
By mistake, they can be banned and the whole end:eek::eek::eek:
 
Garfield52

Garfield52

Visionary
Bronze Level
Joined
Apr 6, 2017
Total posts
693
Awards
2
Chips
28
No worries about the answer to that question of where to keep your money .... in the bank or at the poker site. I assume you are referring to the money from your winnings. The bank would laugh at me if I came in to deposit my poker winnings.
 
franken222

franken222

Visionary
Bronze Level
Joined
Jan 6, 2020
Total posts
543
Awards
4
Chips
0
Banks pay interest, and if you have a fee free account, that would be the option.

Also, you can get your money anytime from your bank. Not so with a poker site. With many sites, you have to do triple toe loops, quads, and sit spins, in order to get your money.

Funny, they don't have the same criteria for depositing.
 
KRANKES

KRANKES

Rock Star
Bronze Level
Joined
Jan 4, 2019
Total posts
461
Awards
1
Chips
25
Nothing is sure in this world but death and taxes!
Pokersites are businesses and can get broke or prohibited. As per se, the money is safe on the sites, regarding stealing. So if you want to build a bankroll, there's no problem at all, when the site is licensed. But why not better open a skrill account and transfer money every now and then. This way you have a gambling account and can get some bonuses maybe...
 
veltins

veltins

Legend
Loyaler
Joined
Feb 22, 2013
Total posts
2,756
Awards
2
JP
Chips
66
Bank is much safer than any poker sites. i have burnt my hands twice by keeping big funds in poker sites
 
PHX

PHX

Legend
Loyaler
Joined
Dec 7, 2014
Total posts
7,127
Awards
16
TT
Chips
68
On one of those regulated site like Pokerstars, party poker and 888 Poker I feel safe with my funds I can store it on one of those.

The others that are not regulated no thank you, I withdraw almost as soon as make the minimum withdrawal amount.

There are other options to store your poker funds these days not only bank. ewallets and Crytpo are cheap to free options that work well.
 
manzanillo53

manzanillo53

Legend
Platinum Level
Joined
Mar 13, 2017
Total posts
1,227
Awards
2
Chips
78
As we know, banks will deduct the account fee every month in addition to the annual insurance and other fees. For the poker site, the transfer fee will only be deducted once when withdrawing money from the site to the bank. Are these poker sites safe? And what is your opinion of this proposal?
I was trying to find an affiliated poker site that would hold the money for me. Then allow me to transfer what every I needed to what ever poker site I wanted play on that day. Instead of having to jump through hoops at each site just to get an account set up. This way, one trusted site can verify everything, accept your money which can be used at all poker sites. Right now you have to tie up money at each site you want to play on.
 
magister1

magister1

Rock Star
Bronze Level
Joined
Jun 17, 2021
Total posts
222
Chips
0
Well, since poker sites aren't FDIC insured or regulated in the USA I'm going to have to go with banks here.

There are always free accounts with no deposit minimums too if people are worried about fees.
 
M

moularaki

Visionary
Platinum Level
Joined
Apr 18, 2009
Total posts
879
Awards
2
MA
Chips
89
seriously ?
who's the fool
 
F

fundiver199

Legend
Loyaler
Joined
Jun 3, 2019
Total posts
13,265
Awards
1
Chips
262
I definitely consider my money to be safer in a bank account than on a poker site. Not only is there a risk, the company behind the poker site could go bust and not pay players back. There is also a risk, they might accuse you of breaking their TOS in some fashion and confiscate your funds as "punishment".

Not saying that poker players need to be overly paranoid about this, especially if we stick with the larger and more reputable sites. But claiming, that the poker site is some sort of alternative to a bank, is frankly ridiculous. So I would definitely not keep more money sitting on a poker site, than I need to be bankrolled for the games, I play. And if I play mid or high stakes, I would probably also prefer to either have the bankroll spread over multible sites or keep some of it tugged away in a regular bank account.

Just to give some random example lets say, you have a 10.000$ roll, and you are playing 22-88$ MTTs on PokerStars. Then why do you need to have all 10.000$ sitting in the cashier on PokerStars? You are not going to have anywhere near 10.000$ in play at the same time, and it literally takes seconds to top up your account with your credit card if needed. Withdrawals on the other hand takes at least a day even on PokerStars, and on other sites usually more.
 
T

ThouFallen1234

Rising Star
Bronze Level
Joined
Sep 7, 2021
Total posts
2
Chips
0
reply

most definetely it have no interest cost or tax
 
Xcoder

Xcoder

Rock Star
Bronze Level
Joined
Apr 23, 2011
Total posts
397
Awards
2
Chips
0
I personally only keep my poker funded with enough to maintain a certain bankroll I have decided for myself. Basically, I'll make 1 deposit and it will last me months if not longer depending on what events etc are going on at the time.
 
terryk

terryk

TheCanuckwithalltheluck
Bronze Level
Joined
Dec 14, 2016
Total posts
7,053
Awards
10
Chips
1
neither,,,,my money is safe in a shoebox right beside my gun,,,,can't get any safer then that! :deal: come get it,,,,lol
 
V

valeski 28

Legend
Loyaler
Joined
Sep 22, 2014
Total posts
2,573
Awards
2
Chips
310
Good afternoon.I prefer my bank account.Fortunately, I have a no fee account ,that is, every time I withdraw some money from PokerStars, 888 or Party Poker ,I pay nothing.,all the money direct to my bank account.
 
Real Money Poker - Real Money Casinos
Top