How to Move Your Poker and Casino Bankroll from One Website to Another? Find Out Here!

1 month ago
How to Move Your Poker and Casino Bankroll from One Website to Another? Find Out Here!
14:45
25 Oct

The net is inundated with questions from players about how to move their bankrolls around various sites. We have personally used the services of several companies during our time in the online gambling industry and would like to share our thorough knowledge with you today.

Remember, when playing online, it is essential to manage your money well and never gamble more than you can afford to lose. The tips provided in this article are purely for entertainment purposes only.


Shift your Poker or Casino Bankroll from One to Another Website

The process of transferring your bankroll from one poker site to another is called 'cashout.' Although it sounds straightforward, there are various options like casino ideal payment that you probably are not aware off, and all of them have pros and drawbacks. That said, there are several factors that can delay your payment, and we have seen cases where transfers take over a month, so it is worth to consider what works for you the best.

Generally, the quickest way to cash out your money is via Bitcoin, as deposits and withdrawals using this method only take 24 hours at most (including processing time).

However, there is a minor drawback: the fee attached to each transaction currently stands at 0.0001 BTC (approximately $0.60). Another option we recommend is Skrill (formerly Moneybookers), where the minimum payout amount is only $20, and it can be sent using email or printed on a paper cheque.

The costs are 2% for bank transfers ($20 minimum) and 3.5% for credit cards (minimum $15). Skrill is available in over 200 countries globally, and you can be reasonably sure that it will work wherever you live (unlike Western Union, for example). If you prefer to cash out via bank transfer, you can use iDeal or SEPA in Europe or Transferwise in the UK.

Once you have selected which route to take, it is usually necessary to open an account with your chosen cashout company before transferring any money. I recommend using it for poker cashouts if you already have a Skrill account (formerly Moneybookers) because the procedure is relatively straightforward. However, this is not an option in some countries (e.g., India) where gambling laws have banned it.

If you do not already have an account with your chosen money transfer company, you will need to open one before transferring any funds into the poker site you are cashing out of. The procedure is effortless, and all you need to do is fill in some basic personal details, including your name, date of birth, country, etc.

The next step will be to give proof of identity (such as a scanned copy of the front page of your passport), which can be sent via email or uploaded to the cashier's website. Some companies request a scan of your credit card and a utility bill, too, just to be entirely sure that you are who you say you are.

Once the account is set up, it will need to be verified, which usually requires sending in a copy of an official document such as an ID or a passport (so use a real one!) This process takes anywhere between an hour and 24 hours to complete (usually the latter), after which you will be eligible to make cashouts.

The minimum redemption values of Bitcoin, Skrill, etc., are also determined by country, so it is vital that you check what your local laws require before sending any funds abroad. For example, you can only withdraw up to $5,000 AUD per month via Skrill in Australia.


Why Move your Poker and Casino bankroll from One Website to Another?

Simply put, because some sites offer better value for your money than others. You might have enjoyed playing at a particular website, but it would be nice to get even more excitement for your cash on another poker site.

A perfect example of this is PokerStars which is currently the best poker site in the world, according to most people anyway. However, unlike some fly-by-night poker sites that come and go regularly, PokerStars is here to stay.

In my opinion, it is the best place for your money because not only do they have more players than anywhere else, but you can win big prizes every day of the week from their 'satellites' or freerolls.


Conclusion

So, what are you waiting for? Start taking complete control of your online poker bankroll today! And do not forget that PokerNews is here to help you 24 hours a day, 7 days a week. We wish you the best of luck in your future poker endeavors!


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Writer and semi-retired poker pro from Edinburgh (UK).Read more

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