Online Poker Payouts + Withdrawal Options For USA Players

Are you wondering what the best payout options are at online poker sites? Well that is the exact reason why this page exists and its goal is to help you understand the different ways Americans can choose to be paid by online poker rooms.

This is very important because without reward, why would you risk anything? Getting paid is your reward and you should understand everything that comes with receiving payouts before getting in bed with any poker website. Once you get done with this page, you'll be prepared to select the best poker site that will meet your withdrawal needs going forward.

Before we jump into how to get paid, lets talk about why this process is made complicated and we're going to get right into that below. Here's what we know:

Even though some online poker laws like the UIGEA deal directly with depositing, they also have an impact on withdrawals and payouts from poker sites. Across the pond, most online players opt to simply have their payouts re-credited to their credit cards or debit accounts. Americans do not have that luxury, but they do have access to many methods that do work for getting money out of online poker accounts and into your hands. The most popular of which is simply getting a check sent to you viia courier.

Before going any further though, you should know that poker payouts usually come with fees attached but that most sites do not charge anything for the first "standard" withdrawal in a 28 to 30 day span. Unless you are using your poker account as a bank account (not recommended), one free payout every month should hold you over unless you just go crazy at the tables. While that free payout usually applies to a "standard" method like a check, high-rollers can probably demand that fees be waived for their payouts and the poker room will likely oblige to keep them happy.

Below we describe the ways that U.S. poker players can choose to get paid. Most of these options are guaranteed to work however each might not be right for your particular situation. Some of you will only have one viable option but that's ok because the options are proven and safe.

Checks / Bank Drafts - This is the most common method that players in the U.S. receive funds from their poker accounts. The drawback however is that checks do take time to get to you plus the time it takes for the poker room to process your payout and actually issue the funds. To compensate, websites usually send payouts through couriers like FedEx which are much more efficient than sending it through national postal systems.

Bank Wire - This method is known for being a poker deposit method but it is also a great option for anyone that needs a payout. Getting everything setup and in place is the key to using bank wire transfers but once it is done, users will not need to do anything else in order to keep using them. Unfortunately not many poker rooms still use this payout method but the ones that do have great success with it. Users will likely need to have had deposited using bank wire as a pre-requisite before getting paid directly to their bank account.

Wire Transfer - Many shy away from using wire transfers because they often carry fees attached to them which escalate depending on the amount of the payout. Like we said earlier, players with influence or big bankrolls can ask that payout fees be waived; most websites try to keep players, especially highrollers, happy so that they continue to play. Using a wire transfer is a guaranteed method for getting paid and that usually involves cash you can put in your pocket. You may need to go to the closest transfer station to get paid but once the money is in your hands, you are free to do whatever you wish with it.

Wire Transfer Services Typically Used: Western Union, Moneygram, "Rapid/Money" Transfer

Electronic Wallets - Another method popular with deposits but seldom found is that of the e-wallet which we do not think is a bad thing when it comes to payouts. Personally we feel that using an e-wallet for deposit is great but that users should find another method when it comes to getting paid. Typically, e-wallets that work for American have a short life-span and while great for a quick transfer into a poker site, it's not recommended for players to have money sitting idle in one. Instead, choose one of the methods above.

You can see all these methods are different but the first step to getting any payout is contacting the cashier at the poker website. That is where the whole process starts; it's where you request how much you want to be sent, etc. The cashier will guide you through all the particulars you need to know at that website plus the available options at the time. Each site is different so you always check for the specific details with each.

What To Do When You Win Money Playing Online Poker

Do I Have To Pay Taxes On My Winnings?

This question is probably best handled by your accountant but if you are playing at an off-shore website, you can get away without paying taxes. Like we said, those websites do not report anything to the U.S. authorities and that includes the Internal Revenue Service.

Basically, any regulated American brick and mortar gambling operator will issue players tax forms when they have won over a certain amount. For instance, Las Vegas casinos require tax information from patrons whenever they win a jackpot over $1,200. They collect the information and report winnings to the IRS so you can bet that the feds are expecting to get their share of your winnings.

But when playing online at offshore operators that is not the case as the IRS does not receive any records of what American players won while playing at those websites. In fact, if you self-reported those winnings, you could potentially expose yourself as being an online poker player...