Your Questions About Poker

Donald asks…

What happens with paying taxes and winning money in online poker?

Do people that make regular pay from poker have to pay taxes on it? Since there’s already a rake on it and all…

So say someone makes enough to withdraw $100k from like Full Tilt or PokerStars, would they have to pay taxes on that? Just wondering…

admin answers:

The rake has absolutely nothing to do with your tax liability to the IRS. The rake is just the way that the poker sites make their money.

If you make $100,000 or even $100 playing online poker you are legally required to report that as income. However, you are also able to write-off gambling losses up to the amount that you won. Talk to a tax professional if you have specific questions, but to make a long story short: YOU MUST PAY TAXES ON ANY INCOME. PERIOD.

Donna asks…

How long should it take to learn how to play poker?

minutes, days, weeks?

I have NEVER played any form of Poker a day in my life, but i’m curious to learn, but if it takes a long time then i’m not interested.

admin answers:

The great thing about poker is that it’s a relatively simple game that is very quick and easy to learn. 5 minutes to learn the rules I would say and from then there are so many places to practice and improve online (for free)

Helen asks…

What are the online poker portals and forums?

Tell me some of the portals and forums that are used for the poker game….

admin answers:

Online poker portals are websites offering poker-related content. Examples of such content could be news, tournament results, strategy articles, poker software, or reviews of online poker card rooms. Some portals have a considerable amount of content, while others attempt to act as mere conduits to other sites, where actual gambling games are offered. Poker forums exist that discuss poker strategy, card room information, gambling news, and other topics.

Ruth asks…

Where can I buy 500 plain plastic poker chips for dirt cheap?

I need 500 plain white poker chips for as cheap as possible. So far the cheapest seems to be a set at Walmart for about $40, but these aren’t going to be used for poker so I don’t wanna buy a fancy set in a case. I’d like to be way under $40 if possible.

admin answers:

I suggest you check on eBay.
You can also buy refill/extra chips at gambling supply sites.

Edit: Just saw these on eBay – 500 for $18 and free shipping. See link below, Auction ends fairly soon, but consider this an example, in that case.

James asks…

I play on a poker site and I was just wondering, How do you cashout your big winnings?

I use Central Coin, kinda like pay pal, if I start with 100 and cash out at 400, the banks dont really think anything of it. But If you win more than $250 in one tourney, the site sends you a check. There are players on there that average around 6 Grand a mounth. Wouldent the banks catch this and red flag it? How do they cash out? Online poker is illegal in all states.

admin answers:

I use a neteller debit card it is good at any poker site i get my money in about 1 hour

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