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Why You Need an E-Wallet for Poker

Evan Jarvis

categories General NLH

Online poker sites have tons of great promotions and bonuses for new depositors and for re-loading. To take advantage of this free value, it's important to be able to move money around quickly and easily. Credit cards often won't work with gaming sites, while bank-wires and cheques are too slow to move money around. This is why the smart players all use online e-wallets. Every edge counts, and not taking advantage of what an e-wallet can do for you is simply lighting money on fire. Don't be that guy who missed out on free money because he didn't take his time and do his research!

If you're like me (and chances are, you are), you love playing online poker - and if you're like me, you also loathe having to jump through hoops to get your money safely online to play. Fortunately, this isn't a headache you need to deal with anymore. In this article, I am going to show you how to level up your online game by teaching you how to deposit and withdraw money online so you have access to your cash when you want it. 

E-Wallets: The Ultimate Option

Online poker rooms will offer you a spread of transaction methods, but in my experience (read: my vast experience), e-wallets are by far the best options. One of my favourite reasons is also one of the lesser known benefits: namely, e-wallets allow you to make money every time you move money around, so you're making money effortlessly, doing something you would have done anyway. This isn't the only benefit of e-wallets, though - and I'm here to illuminate while you ruminate on the awesomeness of this e-commerce option.

The Benefits of E-Wallets

1. Speed

E-wallets are the fastest transaction method available for both deposits and withdrawals. Deposits are always instantly available, and withdrawals are at your disposal within hours or a couple days - the exact length depends on the poker site you're playing on. Some sites, like Stars and Full-Tilt Poker, have instant withdrawals, which definitely sweetens the pot. 

2. Data Protection

All your financial data is kept at the e-wallet. It is not sent out to poker sites, or any third party affiliates, so you can play away secure in the knowledge that your hard-won dough is safe and sound. 

3. Comfort

All the transactions work via e-mail, so they are easy, fast and safe. All you need is a one-time verification of the email and you're done. No entering and re-entering long credit card numbers with CVV codes and passwords, no running out to the store to buy pre-paid cards. You can play and pay easily from the comfort of your home, hassle free. 

4. Availability

There are multiple withdrawal options for your money. Via bank, credit card or you can even use your e-wallet card and get your money through an ATM. The transition from e-wallet to cash in hand is seamless and easy.

5. Security

Both Skrill and NETELLER (two of the best e-wallet options I’ll discuss in a moment) offer security tokens for two-factor authentication, which makes them more secure than most poker sites - most, but not all. This is the same system used by the most secure poker site in the world, Poker Stars. Skrill and NETELLER also offer money-back guarantees in the event of unauthorized transactions. They are also both regulated by the FSA in London (Financial Services Authority) and have to comply with a slew of regulations to ensure optimal security. In other words: your money is backed by the big guys. 


The Best E-Wallet Options

So now that you know why the smart bet is e-wallets, I want to talk about which e-wallets are the best, and what unique features each offers so you can decide which is right for you.

Skrill

I've been using Skrill for 5 years and ever since NETELLER pulled out of the Canadian market, Skrill has been a runaway for the best service and value. 

Here's why: 

  • Skrill is the only e-wallet to give you free money for depositing to an online poker site. If you sign up with Gripsed, you'll get 20% back up to $10. So, if you deposit $50 to Skrill, when you deposit that money to an online poker site, you'll have a sweet $10 sitting in your Skrill account. 
  • They also offer monthly cash-back in the form of VIP points, but if cash isn't your thing, you can also buy goods and services and concierge services with these points. 
  • Skrill also offers a prepaid MasterCard so you can make purchases in your everyday life using money from your Skrill account. You never have to withdraw money to your bank account to use it and the fees are quite low. 
  • If you do want to withdrawal, you can do this with Skrill bank wires, which in my experience take about 2 to 3 business days.

Here’s who:

Skrill is by far the best option for new players, small stakes players and players who don't plan to move their money between sites frequently. Their sign-up bonus is quite appealing to new players and the verification process is pretty quick and easy. In my 5+ years with Skrill, I have never had any sort of issue with their service or security. The ONLY caution I will give you is that the foreign exchange fees are rather significant, so make sure your Skrill account, your poker account and ideally, your bank account are all in the same currency so you won't get whacked with foreign exchange fees. 

NETELLER

NETELLER is by far the longest standing e-wallet that's compatible with gaming sites and the perks of using this service are as vast as they are impressive.

Here’s why:

  • Their service and system are both absolutely top-notch. 
  • I love that NETELLER takes no fees for peer-to-peer transactions, which is unique among all e-wallets, not just gambling friendly e-wallets. 
  • They also offer lower foreign exchange fees and higher cash back - up to 1.2% (as compared to 0.5% at Skrill). 
  • As for withdrawals with your pre-paid card, NETELLER's ATM withdrawal limits are 3.3 thousand dollars per day. 

Here’s who: 

NETELLER is the best option for players who move big money, move it frequently and who play for higher-stakes. Think back to those hefty withdrawal limits and higher cash back rates: these are the main reasons high-volume, high-frequency players should opt for NETELLER when looking for the best e-wallet. 

E-Wallet Optimizer

So now you know which e-wallet is best for you, but I want to make sure you really get the highest value for your e-wallet, I've brought on a partner who offers additional benefits on top of the ones offered by Skrill and NETELLER. The partner is e-Wallet Optimizer, and if you want to sign-up through them to get the ultimate VIP experience at Skrill and NETELLER, you can do so by using this link, and the partner code GRIPSED.

By signing up to NETELLER through e-Wallet Optimizer, you'll snag the special NETELLER Pro status, which will allow you to get those high ATM limits, and removes limits for deposits to poker sites and peer to peer transfers. You'll also receive additional security in the form of fraud guarantee, two factor authentication and double cash back. 

The normal NETELLER rate is 0.6%, but it can be 1.2% with e-Wallet Optimizer. The best part of signing up to e-Wallet Optimizer is that the service is free, and they offer additional customer support so you're queries are responded to in an even more timely manner. All your financial information remains with your e-wallet of choice; e-Wallet Optimizer simply acts as an agent to help you get extra bonuses and support. 

By signing up to Skrill through e-Wallet optimizer, you can get a $20 Welcome Bonus, faster advancements to get through the VIP levels via lower requirements, and should you get to VIP status, you will get the 100 Euro cash bonus from e-Wallet Optimizer. Lastly, you will receive a monthly cash back bonus of 0.3-0.5% on top of Skrill loyalty points, which on their own are worth about 0.2% cash back. 

You can see why e-Wallet Optimizer is my go-to spot when people ask me what's the best way to get the most money online for playing poker, and how they can cash-out as quickly as possible. So, if you're ready to truly level up your playing and sign up for an e-Wallet, weigh your options with the info I've provided here, decide what would work best for you and your type of playing, and (as always), Get Stackin'!


Looking for even more help on money management? Check out my video on even more options for depositing to online poker sites. These options won't score you the extra bonuses that Skrill and Neteller provide, but they will get you depositing so you can score those room signup bonuses!