A personal diary - how the money works!
I appreciate this is becoming more of a simple diary and area to keep records, but I also hopes it gives my friends and family who read this blog and don't really have much knowledge of the poker world an idea of what I do and how my results go. I appreciate that I haven't really written any article style entries, but I will aim to do that as the year goes on. If and when I play specific live tournies I will try and report as best as I can on them.
An update on tonight -
- £100 on VC - I have had a bad spell on the site in terms of MTT results, despite some good cash sessions. I have a small bonus to clear so I will doubtless be back later in the week.
+ £121.99 on laddies. 2 x good cash sessions at $3-$6 and $2-$4, making and $270 and $350 respectively.
HOW DOES THE MONEY WORK
I know that a lot of people who I have personally passed my blog address onto are in the dark about the nuts and bolts of how the money side of things works. For those people I will just add this basic guide.
1st of all you need to have a real money account on the site or sites you play at. Once you have opened and account you can deposit using several means.I stick to the bigger sites, VC and Laddies on the UK for example which are both well established PLCs. For me this is important because I am much happier that the risk of fraud through these companies or the chances of them going broke and leaving me out of pocket are minimal. Because of this I will happily use my debit card.
Once you have registered your card, its simply a case of selecting how much you want to deposit.It is no different to depositing on pay pal or making payments on any other internet site. Once funded, you can select the game you want and off you go. In order to keep things simple I will use the example of a cash game. If you have deposited £50, and you have a winning session making say, £200, the you leave your game and after the hand that was in progress has finished. You check your balance and hey presto, you have £200 in your account. Its time to withdraw.
On most sites there are various withdrawal methods. With ladbrokes for example, you can walk in to any branch and get your cash, up to £500. Other options include cashing directly onto your card and generally 2 days later there it is. The guideline for a card refund as it is called is 2-3 working days. Some sites don't offer this facility, and VC for example will only refund what you put in. Any profit you have to use an alternative means.
BACS is a direct payment into your bank, and takes 3-5 working days. Cheques can take anything up to a month, although Poker333 sent me one within a week. Cheques are not something I use to often, as often sites send them to you in $. If this is the case you can get hammered by certain banks making money out of your exchange rate.
Online wallets such as Neteller can also be used. These are used by many people who are sceptical about giving out card details.
I have no real plans to play live this week, but if anyone can recommend a game within an hour of Hampshire on Thursday I will be interested.
Best wishes
An update on tonight -
- £100 on VC - I have had a bad spell on the site in terms of MTT results, despite some good cash sessions. I have a small bonus to clear so I will doubtless be back later in the week.
+ £121.99 on laddies. 2 x good cash sessions at $3-$6 and $2-$4, making and $270 and $350 respectively.
HOW DOES THE MONEY WORK
I know that a lot of people who I have personally passed my blog address onto are in the dark about the nuts and bolts of how the money side of things works. For those people I will just add this basic guide.
1st of all you need to have a real money account on the site or sites you play at. Once you have opened and account you can deposit using several means.I stick to the bigger sites, VC and Laddies on the UK for example which are both well established PLCs. For me this is important because I am much happier that the risk of fraud through these companies or the chances of them going broke and leaving me out of pocket are minimal. Because of this I will happily use my debit card.
Once you have registered your card, its simply a case of selecting how much you want to deposit.It is no different to depositing on pay pal or making payments on any other internet site. Once funded, you can select the game you want and off you go. In order to keep things simple I will use the example of a cash game. If you have deposited £50, and you have a winning session making say, £200, the you leave your game and after the hand that was in progress has finished. You check your balance and hey presto, you have £200 in your account. Its time to withdraw.
On most sites there are various withdrawal methods. With ladbrokes for example, you can walk in to any branch and get your cash, up to £500. Other options include cashing directly onto your card and generally 2 days later there it is. The guideline for a card refund as it is called is 2-3 working days. Some sites don't offer this facility, and VC for example will only refund what you put in. Any profit you have to use an alternative means.
BACS is a direct payment into your bank, and takes 3-5 working days. Cheques can take anything up to a month, although Poker333 sent me one within a week. Cheques are not something I use to often, as often sites send them to you in $. If this is the case you can get hammered by certain banks making money out of your exchange rate.
Online wallets such as Neteller can also be used. These are used by many people who are sceptical about giving out card details.
I have no real plans to play live this week, but if anyone can recommend a game within an hour of Hampshire on Thursday I will be interested.
Best wishes
posted by Mosside at 7:14 PM
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