How Visa Online Poker Site Deposits Work
If asked, most people would probably tell you that visa is a finance company, or they work in the area of financial services. However, the reality is that they are a technology company. The transfer of money is simply facilitated and the records are adjusted over a secured online data network. Actual real money only changes hands between the banks involved, and after your online poker deposit has been made.
There are a number of players involved any time you make a deposit at one of your favorite online poker sites. Think of the poker online room as the merchant, the business offering to sell or provide something you, the customer, want. Next up in the process is an entity called the acquirer, which is usually a bank or other financial institution that maintains a contractual business relationship with the merchant.
An issuer is also generally a bank or other financial institution. They have been authorized by visa to issue these types of credit cards. Technically, what happens when you make deposits at online poker rooms is that the issuer 'lends' you the money to do so. Obviously, this creates an obligation on your part, which is why they send a bill every month.
Making your deposit at any of the top real money online poker sites is a very carefully orchestrated process. After the issuer 'lends' you the money to make the deposit at your favorite poker room, the acquirer will then reimburse the merchant (poker site) for the transaction. Then, the issuer reimburses the acquirer. This should happen within 24 to 48 hours. Last of all, the issuer collects from you, the card holder, when the monthly bill is paid.
It really helps to think of all of this as simply bookkeeping entries. Although there is indeed real money involved, it is simply a game of transmitting digital information from one account to another over a data / technology network. This is why visa is really just a facilitator, and not a finance company. The real cash comes into play during the settlement process when you pay your visa bill and the issuing and acquiring banks settle their books of accounts.
Making Your Initial Poker Site Visa Deposit
Once you have found some online poker sites that do accept visa credit card deposits, making your initial deposit is very simple. If you have ever made purchases with your visa card before, the process will resemble this very closely. The main exception might be that you will probably do everything through your online poker rooms' software, which you have probably already downloaded.
Click on the software on your computer or open it up on your phone or mobile device. Since this will be the first time you are making a payment, the software will likely offer prompts to guide you through the process. Just fill in a few forms and then supply your credit card information. It really is that simple.
Bear in mind that although the process of making real cash deposits at the best, top rated poker websites is easy and seemingly fast, there is still a lot going on behind the scenes. Ultimately, most poker rooms will not receive any money for about 24 to 48 hours. In some cases, the Visa net (or network) system will classify this as a 'high risk' transaction and might flag it for a closer look and additional verification procedures could be requested (see the special considerations section).
The policies used by your chosen online poker sites will also determine exactly how your initial credit card deposit is handled. Most of the top websites will give you more or less immediate credit. Other, lesser known poker sites might require longer waits, a few even keep you from playing for real cash until after they get paid in 24-48 hours. Seems a long time to wait, which is another great reason to choose one of our recommended poker rooms.
Visa Deposits - Poker Room Bonuses
Poker rooms that offer Visa credit card deposits are also normally going to give out bonuses. Consider this a way of them saying thanks for you choosing their real money site. It is a way of them spending marketing and promotional money more effectively and getting the word out to other potential poker site players.
What types of bonuses can you earn and how do they work?
Generally, online poker sites are going to present their bonuses as a percentage of your deposit. Most will be offering this extra cash only on your first deposit, although some will extend the offer (or make a separate offer) to a few additional reload deposits. A typical online poker site bonus might be presented like this:
100% up to $1,000
Let's break this down a bit. The 100% part means they are going to give a bonus equal to 100% of your initial credit card deposit. So, make a deposit of $500 to your chosen poker room and you will receive an additional $500 in bonus money. Make a $750 deposit and receive a $750 bonus. With a 100% real cash bonus you are going to be doubling your money, essentially.
There is one limitation. Note the part which says up to $1,000. The maximum cash bonus these poker sites will offer is $1,000. Make a deposit of $2,000 and your bonus is still capped out at $1,000. Of course, you could always take your extra real cash and find other online poker sites, enhancing the effects of bonuses on your bankroll.
Sometimes you can also earn extra bonuses for specific payment types. Maybe some poker sites are looking to encourage more credit card deposits. Therefore, they can include an extra ten or even twenty percent bonus when you make your deposit using a visa credit card. Take advantage of such offers, since they are a great way to added real cash in your account.
Special Considerations For Online Poker Site Visa Payments
Always remember that Visa is making real money throughout this process. They take a cut before your deposit ever reaches the online poker sites bank account. If you deposit $100, the poker room is probably only going to receive something like $97.50. Done many times each day, this can really add up. Still, these online poker rooms have a love-hate relationship with Visa, understanding that the convenience these credit cards bring for their players has helped them gain a lot more new players than it might cost them in lost or hidden fees.
Since these online poker payments might be considered high risk by some banks and processing companies, you might experience a request for additional verification. This will usually come in one of two forms. The more interesting one is when you will be requested to sign and return an authorization form allowing these online poker sites the ability to charge your Visa credit card or debit card. You may also be asked to prove your identity by sending in copies of a driver's license (or other document to prove your identity) and maybe a utility bill. Once done, they will be kept on file, so the process should never need to be repeated at those poker online sites.
Furthermore, some of the Visa connected banks and companies have funny rules and standards. For them, it might be mandatory that you actually receive your payout or withdrawal from these poker rooms back on your Visa credit card. In some case, this just makes the processing go smoother and the bookkeeping easier. Don't fight it, just let them put at least the amount of your initial deposit on the Visa. The rest, your profit, can likely be withdrawn using whatever other method you like.
HOW WE RATE POKER ROOMS AND VISA PAYMENTS
If you reached this part, it is safe to say that you are interested in poker rooms that accept Visa as a payment method and maybe you want to learn more about how the listed poker rooms made the list.
We are happy to share our thinking and analysis so that our readers can make the best decisions for them when it comes to picking a new place at which to play poker online. Right off the bat, we are talking about real money play and this of course will require every player to make a deposit, making banking a crucial part of the experience.
Since Visa is hugely popular around the world and a lot of people already have a credit card from the issuer in their wallets, it is only normal for the top poker rooms in 2016 to accept it as a payment method. The sites which don’t, are deducted points and will thus have a lower rating.
The best Visa online poker sites must have large transactional limits to cater to different players and it is usually good if it ranges between $10 and $1,000, with no fees taken by the poker rooms.
Furthermore, each of the top rated poker rooms has an attractive bonus that is usually around 100% but can go up to 200% in some cases. Last but not least, the rating also considers the action and a soft competition is always a good thing.
