Online Poker F.A.Q.

I've fielded these questions a lot from a bunch of people that I've talked to about poker casually. Hopefully this answers a lot of common questions people may have about online poker or poker in general.

Isn't playing online poker illegal?
Short answer: Nope!

Long answer: In late 2006 the UIGEA title was passed into law contained within the Safe Port Act. It stated that it was illegal for financial institutions to transfer funds to and from internet gambling sites. In November 2008 the rules were put into place and the law went into effect days before the start of Obama's term.

Despite this:
- No off shore companies have been prosecuted because they lie outside the US's jurisdiction
- No players have been prosecuted because the act targets financial institutions and the law isn't defined well enough for any sort of conviction to be possible

So while this act has been translated by most to be "Internet Poker Is Illegal", the reality is "It Is More Difficult To Get Money To And From Poker Sites".

Luckily, through things like phone cards, player transfers from those outside the US, debit cards through payment processing companies etc, the direct tie from banks to poker sites has been removed and play has continued as normal, though with a smaller population.

Congressman Barney Frank currently has an online gambling bill waiting for approval which is currently backed by 30 other representatives. Many poker players have confidence that the dwindling economy could help have the regulatory bill passed since untold amounts of money could be made from the gov't taxing poker sites that operate within the US.

Not one single online poker player in the US has ever been arrested or harassed by the government and there are literally tens of thousands that play each and every day without fear.

How can you beat a game based on luck?
With games like craps, slots, roulette etc you are playing against the house. The house has a statistical edge which over time guarantees them a winning game. Players may win money in the short term but any long term expectations should be negative.

In poker, you are playing against other players and the edge is up for grabs. While there is a factor of luck in poker, the vast majority of your success or failure is based on decisions that require skill.

What does my opponent have?
Do I have odds to call this bet?
How can I maximize the gain of this hand?

By consistently playing better than other players, I ensure myself the same kind of edge over other players that the casino has. While I may lose over the short term, I know I will win in the long term.

And I have. :)

What sites / stakes do you play at?
While I have bankrolls on 4 sites now, the main ones I play at are Full Tilt Poker and Cake Poker. I play cash games mostly with the occasional tournament to break things up.

Full Tilt has a huge player base and allows something called a HUD which allows you to keep details stats on all of your opponents to help influence decisions during play. I play .02/.05 or .05/.10 no limit holdem at this site.

Cake Poker is a smaller site but the players are horrible on it so it's worth the wait. I play very similar stakes here of .02/.04 and .05/.10 no limit holdem.

The X/Y values are the small blind (x) and big blinds (y) during that cash game. The buyin for these games is 100 times the big blind. So I am usually sitting with between $4 and $10 when I sit down at these tables.

It doesn't seem like much, but I've started at the very bottom and even then it can add up quickly since I play 3-4 tables at a time during a session.

What prevents the online casino from cheating?
Two things.

1. They have no reason to.

The casino makes it's money without actually playing against you. This is called "rake". In cash games, the casino takes a small (usually about 5%) percentage out of every pot as their fee. In tournaments, the same kind of percentage is taken out of the tournament buy-in to act as income. Online casinos are making BILLIONS of dollars a year off this money alone so the consensus is that there is no need to do anything underhanded to make more.

2. They get caught if they do.

There have been times where players have outed either bots or disgruntled former employees who decided to write code that allowed them to see other players hole cards. Poker players by nature take ungodly amounts of statistics against all players they play against. There was actually a story recently on 60 minutes about a site called UltimateBet.com which had one of these cheating employees. Several players compiled tons of reports showing that there was no statistical way this player could be acting the way they do and making the kind of money they were without being able to see their opponents cards. The code was fixed, funds were reimbursed to the players who were taken advantage of and everything went back to normal.

So in short, I feel more safe playing in an online casino than I do going to one in Vegas.

What does "Nit" mean?
A nit is someone who plays really tight poker but used in a derogatory manner to describe someone who never has the balls to gamble on big hands or make huge bluffs. That's me. I play squeaky tight poker with the "when in doubt, fold" motto. Brave? No. Profitable? Yes. :)

I hope this helps clear up some misconceptions about poker and gives you some more info about it's workings and history. If you have any questions feel free to add them in a comment and if it's a juicy one I can add it to the FAQ.