Currently, online poker in the USA is in a state of transition. While the passage of the UIGEA laws in 2006 slowed down the progress of online poker in America, recent developments have made the eventual regulation of online poker in the United States seem more like an inevitability rather than a dim possibility.
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In most recent times, a number of US poker sites have been shut down under the UIGEA. We have worked hard and handpicked the best legal US poker sites that are still accepting US poker players. Check out the table below where we have listed our top ranked poker sites for people in the USA.
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Legality of Online Poker in the USA
By and large, the act of playing online poker in the United States is not illegal – probably. At times, the Justice Department has tried to say that online gambling should be covered by the 1961 Federal Wire Act; however, the Fifth Circuit Court of Appeals has ruled that this only applies to sports betting, and not other forms of online gambling. Some states have restrictions on online poker: most notably, Washington State has made playing online poker a felony offense.
On the federal level, the most confusing bit of legislation in this regard has been the Unlawful Internet Gambling Enforcement Act of 2006, also known as UIGEA.
Issues with Depositing from the USA
While this law did not make online gambling illegal in the United States, it did make it illegal for banks and other financial institutions to allow money to be wagered or deposited at gambling businesses with their knowledge. UIGEA is the major issue facing USA players who wish to deposit money into online poker accounts, or on other online gambling sites.
Current US Poker Deposit Methods
Despite the restrictions placed on American gamblers due to UIGEA, most online poker sites still have plenty of deposit methods available to USA players. Some players have found that credit and (more rarely) debit cards are still an effective method for funding their online poker accounts. In other cases, players may be able to use bank transfers or bank wires, or deposit by check (or electronic checks, also known as e-checks). Finally, while most e-wallets have stopped allowing American players to use their services to fund online gambling accounts, a few sites still have agreements with specified e-wallets that will do business with USA customers.
Many online poker rooms have also come up with their own unique or innovative solutions to allow USA players to deposit on their sites. Check your favorite poker room’s website for a complete list of deposit methods available.
Taxes on Online Poker Winnings In The USA
Regardless of the legality of where and how you gamble online, the income made from playing online poker is considered taxable income by the IRS. Worse yet, for most players, the method for computing taxes is one that may result in a significant tax burden on winnings.
In order to properly claim online gambling income (or offline gambling winnings, for that matter), a player must add up the total amount they’ve won in all winning sessions they’ve played during that calendar year. How to compute ‘sessions’ is a thorny issue; players have been known to use each day as a session, while others choose to get more in depth, keeping track of each table/tournament they’ve played or each time they’ve stopped playing. Adding up all of these winning sessions will allow you to computer your gross gambling income.
You may then add up your losing sessions from the year, and treat these losses as deductions. However, you may not take more in deductions than you have made in gross gambling winnings. If you wish to file your taxes correctly, this can really hurt, as the IRS expects gambling income to be reported even if you suffer a net loss for the year! Thus, a $10,000 win can only be offset with $10,000 in losses, even if you lost much more during the year. The worst part of this for most gamblers is that by itemizing deductions in this manner, you will lose the standard deduction you may have otherwise taken.
However, things are not quite as bad if you can file as a professional poker player. Professional players have the advantage of claiming only their net win on Schedule C, rather than adding wins and deducting losses. You may also be able to claim other business deductions associated with your profession, just as you would when operating a business. On the other hand, you will now have to pay a 15% self-employment tax on your income. It is also difficult to achieve professional gambler status in the eyes of the IRS; if you hold another job while you play online poker, it is unlikely they will accept your claim.
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Future Outlook for Online Poker in the USA
The future outlook for online poker in the United States is optimistic. While efforts at the federal level haven’t yet been successful, there has been increasing momentum since 2010 to repeal UIGEA and regulate online poker inside the USA, as has been done in France, Italy, and other major nations. Additionally, there has been great interest by a number of states in creating their own intrastate online poker networks in the absence of federal legislation. New Jersey recently became the first state to have such a bill pass their legislature, while Florida, California and Iowa have all had similar legislation debated in the past year. It seems likely that several states will give the green light for online poker in the near future, with federal regulation also a distinct possibility in the medium-term.
Gambling Laws In The USA State by State
In this section, we’ll be adding all the latest news and happenings with regards to online gambling legislation as it takes place, on a state by state basis. The list below provides reviews of state laws. This site (www.legaluspokersites.com) has a list of every state if you don’t see what you are looking for here. We look at the current laws, any pending bills or legislation in the state, as well as a general history of gambling in each state and the future outlook.
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While playing Texas Hold’em for fun can be…well, fun, it’s nothing like the real experience of playing Texas Hold’em for real money. Real Money Texas Hold’em is filled with intensity and drama that just doesn’t exist when you’re competing for play money chips. Whether you just want to casually play low stakes online poker for real money, or aspire to be a poker pro, Texas Holdem for real cash is where the serious action is. Take a look at the table below where we recommend the best real money poker sites below specific to your country.
Best Real Money Poker Sites for Players in United Kingdom:
Tutorial on Signing up and Playing Poker for Real Money
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This video by our US poker expert Matt explains how to play online poker for real money. Matt will guide you through the sign up process and answer any questions you may have about playing online poker at your favourite poker site. While this video is geared towards US poker players it still applies to non-US players and is very beneficial for anyone new to playing online.
Where to Play Real Money Texas Hold’em
There are literally hundreds of different sites available online for playing real money Texas Hold’em, from the huge sites that you’ve seen advertised on television and in magazines, to smaller sites that may not have the name recognition of their larger competitors, but offer great features and incentives to those who play there.
Each of these sites has something different to offer to players in terms of games available, the bonuses they offer, and their incentive programs. With so many options open to you, you’re certain to find a real money Texas Hold Em site that feels like home. Check out the table above where you will find the top real money poker sites.
Advantages to Real Money Texas Hold’em
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Playing online poker for money is where the cash is, so if you want to use poker as a way to earn some extra income, you’re going to have to play in real money games. But even for new players who are only playing casually, real money Texas Hold’em has several advantages.
First of all, players who wish to improve at poker will get way more out of low-limit real money Texas Hold’em games than they ever would from a play money game. The play will much more closely resemble the kind of play you’d expect to see in a competitive setting, and with real money on the line, you’ll be more likely to play your best game as well. Even if you’re not that concerned with improvement, though, real money Texas Hold’em is really the only way to get a true poker experience, since money is an integral part of the game.
Disadvantages to Real Money Texas Hold’em
All of that being said, there are some players who are best served by playing free Texas Hold’em instead of real money Texas Hold’em. If you’ve just learned the rules of Texas Hold’em, you’re probably not ready to jump into real money games right away (or if you do, you’d better be prepared to lose). Instead, playing free Texas Hold’em will allow you to get a grip on how hand rankings work, how the course of play flows, and other basics that you’ll want to be intimately comfortable with before you start playing poker online for real money.
In addition, playing for free is a great way to check out a new poker site you haven’t played at before. Instead of worrying about whether or not you’ll be happy with a site you pick, you can always jump in and play some free Texas Hold’em games first to see if you like the software client, features, and other aspects of a given site before committing. Once you’ve found a site you like, you can then make a deposit and move on to playing real money Texas Hold’em, confident that you’ll be happy with the experience.
Depositing To Texas Holdem Sites
Two of the biggest of these online eWallets are NETeller and MoneyBookers (not available to USA). The advantage of using one of these is that players can hold all their poker money in a separate account and move the money between accounts quikcly and easily. For beginner players it is not as important but the majority of experienced online poker players will usually transfer money using these eWallets.
Newer players, like most recreational players, normally use credit or debit cards to deposit. Cards are an instant deposit method and are much easier to use as they do not require the setting up of any other accounts. eWallets require first setting up account, then depositing into the eWallet and then depositing from the eWallet to the poker client. Since the UIGEA bill was passed, many US poker rooms are having issues accepting credit card deposits from players residing in the USA. Be sure to check the TexasHoldemOnline.com homepage as we list all the US sites that accept credit card deposits.
Cashing Out Texas Holdem Winnings
When cashing out, poker players are also presented with a large choice of options. Players may cash out to a large number of eWallets, direct to their credit/debit card or by bank transfer (credit card are normally not available to USA players where paper checks are the standard withdrawal option).
Players wishing to access their money in the fastest time are recommended to use direct bank transfer. Transferring out to a card will take three to five working days. Transfers to eWallets take up to 48 hours to process; however it will take further time if a player wants to withdraw from an eWallet to his or her his bank account. The advantage of withdrawing to one of these accounts is that the funds are available to use to deposit in any other poker client immediately. This can be a deciding factor for a serious poker player that wishes to keep their real life bankroll separate from their poker bankroll.
Many players who are just starting their poker careers, start depositing by card and withdrawing by direct bank transfer. As a player becomes more serious, they will usually start using an account such as Neteller to keep all their poker funds in the same place so there is no need to redeposit from a bank account.
Online Poker For Real Money In The USA
While 2011 saw the exodus of the two of the world’s biggest poker sites – Full Tilt Poker and Pokerstars – from the US market, there are still a wide number of options for players who want to play online poker for real money in the USA. Right now there are 4 poker networks that still take US real money poker players, including the Merge and Everleaf networks. Both of these long serving real money poker sites allowing US players have been around for several years and represent the top options for players residing in the USA who still want to play poker for money online.