Mason Malmuth, head of popular online poker community TwoPlusTwo, has taken the decision to stop accepting advertising from offshore poker room Americas Cardroom (ACR).
The decision has not been taken because ACR continues to accept US players without any regulatory oversight in the USA. In a post on TwoPlusTwo, Malmuth explains that he has become aware of several security issues affecting ACR and that despite raising these in a letter to ACR and Winning Poker Network (WPN) CEO Phil Nagy, he has not had a response.
“… according to many posters on our site, some problems have developed on Winning Poker Network and we in Two Plus Two management agree that they need to be addressed.
Coinbase Americas Cardroom What Is Coinbase and How Do You Utilize It? Cryptocurrencies have been one of the fastest growing financial trends in current history, with roughly 150 million individuals participating in the digital coin market since its 2009 creation with Bitcoin. Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide.
So, to this end, on Saturday February 24, we sent their CEO Phil Nagy an email letter where we addressed four issues: late tournament registration (which we now understand has been addressed), bots, possible super users, and other possible collusion. We also made some suggestions as to how some of these issues could be addressed.”
TwoPlusTwo doesn’t make money from subscription fees and relies on advertising and affiliate income for its revenues, so it has a strong incentive not to reject ACR’s business, nevertheless Malmuth explained:
“As of the time of this writing, March 1, 2018, we have not heard back from them and have decided to take the following action. Two Plus Two Interactive LLC will not accept any more advertising from Winning Poker Network and their sub-forum will be closed. Of course, this can all change if we do get a positive response from Winning Poker Network and they still want to advertise with us.”
Chicago Joey Ingram raises the alert
The current situation has come to the attention of poker players mainly because high stakes player and popular online poker blogger Joe “Chicago Joey” raised the issue on social media.
At the beginning of February, Ingram released the first of three YouTube videos attacking Americas Cardroom. He accused Nagy of failing to provide fair games that, in his opinion, were full of collusion and bots.
Ingram presented prima facie evidence that there was a security weakness in the algorithm for seating tournament players and showed statistics on players that provide strong indications that bots were active in SNGs and cash games even at the lowest stakes.
The evidence was presented alongside clips of Nagy explaining in interviews what his attitudes were to running an online poker room. Joey also said that he had discussed the issues directly with Nagy, but that he was unsatisfied with the response, and their “friendly” relationship had now been ended.
Any streamers & players that continue to promote @ACR_POKER to their audiences I will never work together with, promote, want anything to do with, etc. until ACR addresses the massive security concerns & their overall not giving a fuck attitude changes.
Coinbase America's Cardroom
— Joey [GTO] (@Joeingram1) March 1, 2018
In short, Ingram’s complaint is that ACR rightly prioritizes player fund protection and making sure that players always get rapid access to their money, but that this isn’t enough. To genuinely look after the players, ACR must also address the very real issues of game security presented by collusion and bots, mainly emanating from Eastern European countries.
Phil Nagy responds to USPoker
USPoker contacted Phil Nagy to get his side of the story. In a long Skype call, Nagy’s frustration with the situation was very evident. He clearly feels that the criticism is unfair and believes that he takes game security more seriously than most of his competitors in both the US facing and rest of the world market.
Firstly, Phil acknowledged that some of Ingram’s criticism was fair. ACR did have an issue with the tournament seating algorithm.
Players who entered a tournament at the same time would indeed find themselves sat at the same table – a loophole that was exploitable by colluders. However, this algorithm has now been changed with a “hotfix” that was not widely publicized, although some players who had been affected by the problem were emailed about the change.
Nagy said that it was true that Ingram contacted him about the issues, and that he agreed to speak further about the issue. But when he had the conversation with Joe, he was on holiday with his family at Macchu Picchu in Peru, and didn’t therefore get a fair chance to reply before Joe posted his first video only eight days later.
Nagy says that any claims of being unable to talk to ACR about these issues are unfounded.
“We take phone calls, we take live chats. He could have got on the phone and talked to me!”
Nagy explained that he had even given Ingram his own personal Skype details so he could make contact.
Privacy issues are a barrier to communicating on security
One issue which Nagy raised which definitely rings true is that ACR doesn’t publish details of any accounts that it has banned for reasons of privacy. Talking off the record with a member of the PokerStarssecurity team, I have been told that they are also caught in this trap.
The operators would like to name names, but privacy laws and data protection provisions as well as general law make this difficult for them to do. The PokerStars security guy told me that contrary to popular belief, the vast majority of bots and collusion are identified by their own procedures well in advance of any complaints by other players.
As at ACR, action to ban these accounts is taken privately and in line with the site’s terms and conditions. Using the law to prosecute is beset with problems and only works in the most blatant cases.
“It’s my job to investigate, but not to say. That’s privacy, just like if your ex-wife called me to find out if you were playing.”
Phil Nagy explained that while hand histories have a value in identifying bots and collusion, “following the money” is much more effective.
“I know exactly where the money comes from and I know where it goes,” Phil explained. “Have we banned people and their bots? Yeah! Have we caught them? Yeah.”
But, he continued, if ACR were to abandon its privacy policy to “out” these players, everyone would hate the consequences – and mistakes would inevitably be made as some honest players could be banned in error.
Phil stands by his emphasis on making sure player funds are safe, something that both Mason Malmuth and Joe Ingram have praised, but he thinks that his efforts to ensure game fairness have not been appreciated.
He explains that the reason he has not taken to social media to counter Ingram’s claims is that to do so would be counter-productive and simply give credence to claims which he rejects as unfair.
From a business perspective, this PR strategy makes sense. Phil, himself explains that despite the appearance of this criticism on 2+2 forums and social media, “it hasn’t hurt the business.”
The real problem lies with US politicians
Watching Joe Ingram’s videos, a viewer can’t help but feel that he has a point. Security at ACR isn’t able to prevent collusion and bots. But then again, there is a war between cheats and online poker operators, virtually an arms race where the crooks constantly seek new ways to abuse and evade security systems.
The question is whether ACR and the Winning Poker Network are doing enough to make the games as fair as possible. Phil Nagy would say “yes,” and he too makes a persuasive case.
In a free market, players would be free to make their own decisions, to enjoy the big money tournaments and VIP scheme that distinguish Americas Cardroom or to go to another site of their choice.
Unfortunately, that isn’t the case in the US.
As Ingram points out, for US players outside the states which regulate online poker, the choice is pretty much between ACR and Ignition – and Joe says that the problem of bots and collusion is if anything worse on Ignition.
Players who want to play online poker in the US still have little choice. In states where politicians have failed to establish a safe, regulated market, the consequence has been to hand over the market to offshore sites like Americas Cardroom and Ignition or real-money sweepstakes sites like Global Poker.
No matter how much personal integrity someone like Phil Nagy brings to running his company, players can never have the same legal protection as they would have if their state allowed online poker under a legal framework.
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Which Online Poker Sites Accept Bitcoin Payments?
While for players, enjoying real money poker at offshore sites is completely legal, US banks still do their best to block deposits. Thankfully there is a super-reliable solution available – Bitcoin. What was once in the realm of technical ‘geeks’ is now very much mainstream. Anyone can set up a Bitcoin wallet, fund it and deposit at online poker sites quickly and easily.
On this page you will learn the following;
- Why Bitcoin has become a popular banking method for US players
- How to deposit and withdraw and access payouts using Bitcoin at poker sites
- Which US poker sites cheaply and easily accept Bitcoin
- History and information on how to get started with Bitcoin for poker
USA poker rooms continue to thrive. Most are based out in the Caribbean, or in Central America. In the past, you would need to make an international credit card purchase (or money transfer) to get money on-board – now you can use Bitcoin at all of the main networks.
If you want to deposit to an online poker site using Bitcoin, check out the list below!
Also on this page: Top Bitcoin Sites >What is Bitcoin > Deposit & Withdrawal Limits > Types of Online / Offline Wallets > Downloading a Wallet > How to Buy > How to Cashout > Pros & Cons > FAQ > Terms
Which Sites Are The Best Sites for Bitcoin Deposits ?
1. Ignition Pokeris the single biggest Bitcoin site. Their software features anonymous gaming, and a restriction on multi-tabling which keeps grinders away and the games easy. This poker site has a detailed explainer video, which shows you how to use Bitcoin to get your money on board. You’ll find more Bitcoin poker, games, and tournaments here than at any other US friendly poker site.
2. Bovada Poker is a top online poker site for tournaments. Their weekly schedule is packed full of small-to-mid buy-in games, many with guaranteed prize pools including use of Bitcoin poker. Look out for the tournament festivals known as the ‘Online Super Series’, which often include a tournament with a $1,000,000 guarantee.
3. BetOnline Poker is the final major legal US poker site welcoming Bitcoin. This is a long-running sports betting brand which is based down in Panama. BetOnline is a leading site on the Chico Poker Network (another US site on this network is Sportsbook Poker). You’ll find plenty of cash games and a lot of action generated by the sports betting crowd.
With so many other legal poker deposit options available, there are fewer international brands making the move to Bitcoin. NetBet have started accepting BTC at their UK Licensed sportsbook and casino – we hope that some poker rooms will join this list soon.
Non-US players are welcomed at both the Winning Poker Network (America’s Cardroom) and the Chico Poker Network (BetOnline.ag).
What is Bitcoin?
Bitcoin is the world’s largest cryptocurrency – the coin that started the crypto revolution. Bitcoin allows for peer-to-peer money transfer, which are written in a digital ledger, a bit like an accounting transaction. There’s no coin or physical manifestation of Bitcoin – it’s simply code, which represents a value in fiat currency.
Getting into definitions about Bitcoin can become quite technical, and quite quickly, so it’s best just to think of it as a digital payment method that does away with the banks, payment providers, and prying eyes of the government.
Bitcoin was first released in 2009, following a white paper explaining the fundamentals of this new technology. The cryptocurrency is attributed to an anonymous inventor – Satoshi Nakamoto – who’s true identity remains a mystery to this day.
Today, you can buy bitcoin on exchanges and wallet services like Coinbase or Bitpay. These are probably the easiest option for those new to buying or selling bitcoin for fiat, providing both access to the bitcoin market as well as a digital wallet service for storing and transacting with your bitcoin.
Bitcoin wallets are the digital equivalent of the wallet in your pocket. From this wallet, you’ll send and receive funds using your unique wallet address and corresponding private key, which secures your bitcoin. Don’t lose any of this information – lose track of your wallet or your private key, and you might end up getting locked out of your funds.
Multiple different wallet services exist. While the likes of Coinbase roll all the services you’ll need into one, downloading a wallet and buying/selling bitcoin yourself remains the cheapest option.
Downloading a Bitcoin Wallet
If you don’t want to download and maintain a wallet and you’re just looking for the easiest way to buy, store and send your bitcoin, check out Coinbase. Otherwise, you can follow these simple steps below to get up and running with your own bitcoin wallet.
Bitcoin.com offers a wallet app which can be quickly and securely downloaded to your smartphone – perfect for both bitcoin core (BTC) and bitcoin cash (BCH).
1. Head to your device app store.
2. Type ‘bitcoin.com wallet’
3. Find the bitcoin.com wallet
4. Tap ‘Get’ or ‘Install’ to begin the downloading process.
5. Open the app to reveal your new wallets – one for BTC and one for BCH.
You’ll find send and receive tabs below your main wallet balances, which will guide you through the process of transacting in bitcoin.
If you’re buying from an exchange like Coinbase, you can then send your funds from the platform to your wallet, using the unique address generated under the receive tab.
How to Buy Bitcoin
Bitcoin is bought from exchange services, or from brokers, depending on your requirements. We’ve already mentioned Coinbase, which is the market leader, but there are others you can use, like like BitPay and Blockchain.info. You can also buy bitcoin from any individual – it’s a peer-to-peer market, after all.
Follow these simple steps to buy your first bitcoin to play Bitcoin poker and other games.
1. Download and set up your bitcoin wallet – you’ll need your wallet address for storing the bitcoin you’re about to buy.
2. Choose an exchange service, such as Coinbase or Kraken.
3. Create an account with the exchange – you will likely be asked to verify your ID before you can begin purchasing bitcoin.
4. Go to the ‘Buy’ section of the exchange, and enter the amount you want to buy in either BTC or your local currency.
5. You’ll be quoted a price for your transaction. Once you accept this, the transaction will be processed and your bitcoin will show up in your exchange account.
6. From your exchange account, send your bitcoin to your external wallet address.
Easy instructions on how to buy Bitcoin for poker deposits.
Be sure to write down your private key and treat it like cash or anything else that’s highly valuable – lose this, and you lose your money in most cases. So if you do intend to store your bitcoin in a software wallet, make sure you don’t lose the digital keys to the door.
What are the Main Benefits of Using Bitcoin
Bitcoin has exploded in popularity since its launch, to the point where an increasing number of merchants online now accept payment in bitcoin. If you use Bitcoin for poker, a lot of these benefits cross over.
- Peer-to-peer: no third parties required
- Anonymous transactions (kind of)
- Secure payments
- Variable value: holdings can increase in value
- Low transaction fees
- Minimal counterfeit/fraud risk
What are the Disadvantages of Using Bitcoin
Of course, bitcoin does have some disadvantages you should weight up.
- Not fully anonymous
- Lots of hackers and scams; it’s up to you to securely store your funds
- Processing times for BTC can be sluggish (BCH is quicker)
- Variable value: investments can go down as well as up!
Bitcoin Deposit and Withdrawal Limits
Deposit and withdrawal limits vary with each Bitcoin accepted poker room, along with the processing times. You will find both the deposit and withdrawal limits for each poker site. The minimum deposit varies for each site. Ignition and Bovada both accept deposits as low as $10 with Bitcoin, Sportsbetting and Betonline accept deposits as small as $20 while America’s Cardroom has a $50 requirement via Bitcoin.
- Bovada Poker: Deposit up to $5,000, unlimited withdrawals. Usually takes around 1 day for withdrawals.
- Ignition Poker: Deposit up to $5,000, unlimited withdrawals. Usually takes 1 day or less for withdrawals.
- Americas Cardroom: Deposit maximum of $25,000, withdrawal maximum of $10,000. One withdrawal per day, up to 5 per week.
- BetOnline Poker: Deposit maximum of $25,000, withdrawal maximum of $10,000. Withdrawals take a maximum of 48 hours.
- Sportsbetting Poker: Deposit maximum of $25,000, withdrawal maximum of $10,000. Withdrawals take a maximum of 24 hours.
Pros & Cons of Using Online or Offline Bitcoin Wallets
The pros and cons of using both online and offline Bitcoin wallets
There are two main types of cryptocurrency wallet – online and offline. Online wallets are probably the easiest to use. You log in, do your business, and log out. This leaves your coins sitting in the wallet. But this convenience comes at a price – security.
These are called ‘hot’ wallets, because bitcoin is being held online. This means you’re always more susceptible to hacks and thefts, versus storing your coins on a hardware wallet. If you’re only sending $10 here and there, it might not be worth going the whole hog and getting yourself a hardware setup. But if you intend to be a regular user or you’re sending and receiving larger amounts, this can be a good investment in the security of your bitcoins. And we know you want to keep your Bitcoin at poker sites safe.
Coinbase: The leading online wallet and exchange service, this platform is great for those new to BTC. It’s easy to use, secure and probably the most trustworthy name in crypto. However, it can be expensive relative to other services, and some users get understandably nervous about holding large balances with any online wallet.
Electrum: A ‘cold’ wallet, which stores private keys offline. This is the choice for the more security conscious, protecting your funds from the risks of hacking faced by so-called ‘hot wallet’ funds. Not as easy to use as the likes of Coinbase.
BitPay: An easy to use app which does it all for you. Like Coinbase, this can be a more expensive choice, in terms of fees and exchange rates. However, it is simple to use, and widely regarded as a trusted bitcoin wallet and payment service. Play Bitcoin poker and other games safely and securely.
Blockchain.info: Send, receive and trade with a Blockchain.info wallet, which offers up some of the lowest fees around. It’s still an online service, so not quite as secure as the hardware options, but over 29 million users trust Blockchain.info to handle their crypto transactions and store their coins safely.
Ledger: A hardware wallet that lets you store your cryptocurrency entirely offline – the most secure option available for safeguarding your funds. Probably not for the casual user, and there’s the hardware cost for buying a Ledger wallet, but the security benefits make this more than worthwhile for those regularly using bitcoin, or sending larger transactions.
Bonus offers with Bitcoin
There are plenty of playing crypto poker and & crypto poker online. One of them is generous bonsues. A number of online casinos who offer online gambling have generous welcome bonuses and deposit bonuses for using Bitcoin to play Bitcoin poker and other games. It is pretty much free bitcoin to use! Here are some bonus offers to play Bitcoin poker and games today.
1. Ignition- Ignition offers a 200% Bitcoin match bonus up to $2,000. If you make your first deposit with Bitcoin you will get an additional 100% bonus up to 100%. It is a top Bitcoin poker experience.
2. Bovada – Bovada offers a bevy of Bitcoin promotions to meet your gambling needs. In sports, Bovada offers a 50% match bonus up to $500. In Casino games, they offer a 150% match bonus of up to $1,500 (redeemable 3X). Bovada is a worthwhile Bitcoin poker experience.
3. BetOnline – They offer a 100% 1st-time cryptocurrency bonus with a max deposit of $1,000. They also offer a 35% crypto bonus on reloads. Use bonuses on their sports, poker games, and more! There are few places for Bitcoin poker.
How to Cashout from a Poker Site with Bitcoin
So you’ve got a Bitcoin poker balance after you cashed out from the poker room and you want it in cold, hard local currency. Simple – this is a ‘sell’ transaction, so you’re basically going to go through the buying process in reverse.
- Login to your exchange account and find your exchange wallet address. The exact process here varies depending on which platform you’re using, but this is usually not too difficult to find. Platform-specific instructions will be available from the ‘Help’ section of your exchange.
- From the wallet where your bitcoin is currently stored, you want to send the amount you’re intending to withdraw to your exchange wallet, so your funds are primed and ready to go. Alternatively, if your funds are already stored in a wallet linked to an exchange, you can just directly sell them for market value.
- Head to the ‘sell’ section of the exchange, and input the amount in BTC or local currency equivalent you want to sell.
- Confirm the transaction and wait for funds to appear in your exchange account. From here you can withdraw to your bank account through your verified exchange account.
How to cashout from the poker room to Bitcoin wallet and finally, to your bank account.
Bitcoin Poker FAQ
Are Bitcoin Poker Sites Safe to Use?
Bitcoin for poker is entirely safe, as long as you’re careful with where you’re sending your money. If you transact through an exchange like Coinbase, and you double-check you’re sending to a verified, trusted bitcoin address, that’s a perfectly secure transaction. However, there are scammers out there who will do their best to get you to part with bitcoin, your private keys or other sensitive information – so you should definitely be careful, at least until you know what you’re doing.
Is Bitcoin Legal?
Using Bitcoin for poker is legal in most jurisdictions worldwide, although some countries like Russia and China take a more restrictive approach to its use. There’s nothing illegal about bitcoin in itself, just as there is nothing illegal with any cash payment. Bitcoin is just another currency, albeit in digital form – even if some countries don’t yet recognize its status as legal tender. But if a site accepts it, you can use Bitcoin for poker without worrying.
Is Bitcoin available to use on mobile devices?
Bitcoin is available to use on your mobile device paired with a Bitcoin wallet (details listed above) when you are playing on a mobile-friendly site or on a casino-specific app. Mobile devices ensure great Bitcoin poker action.
Coinbase To Americas Cardroom
Is Bitcoin Really Anonymous?
Bitcoin is anonymous to a point. There’s nothing with your name on it, but all transactions are permanently recorded in the distributed ledger, and it may be possible to trace transactions that originated from the same accounts. So it’s anonymous in most cases. But if you’re doing something illegal, you should still be concerned about this being traced back to you, in part through the clues you leave on the bitcoin ledger with each transaction.
Can I Use Bitcoin to Deposit and Cashout of Poker Sites?
Yes! Bitcoin is supported across a growing number of real money poker sites. Check out Bovada Poker, Ignition Poker or Americas Card Room for great sites that allow you to deposit and cashout with BTC while having a great Bitcoin poker experience.
Which Bitcoin Poker Sites Process Withdrawals the Quickest?
Coinbase America Cardroom
Bovada and Ignition Poker are the quickest in terms of handling withdrawals, with less than one day required before you get your hands on your cash.
Terms to Know for New Crypto Users
Cryptocurrency: Any virtual currency like bitcoin or ethereum that is bought and sold digitally.
Bitcoin address: The unique address, a string of letters and numbers, which makes up your bitcoin wallet. Send and receive funds to this address, like an email address. You’ll need one if you want to use Bitcoin for any poker site.
Private Key: The main security feature, you’ll need this private key to send transactions from your bitcoin wallet address. Guard this with your life, it’s the equivalent of your PIN number.
Bitcoin Wallet: The digital wallet identified by your bitcoin address, which holds your bitcoin and, for example, you Bitcoin poker winnings. Again, this is essential if you’re planning on using Bitcoin for poker.
Blockchain: The distributed ledger technology that supports cryptocurrencies like bitcoin. Blockchain has a number of use cases aside from cryptocurrency and is widely regarded as one of the most fundamental tech revolutions since the Internet.
Decentralized: The opposite of centralized – bitcoin transactions are recorded on a ledger spread across multiple different ‘nodes’, rather than one single server. This improves security, as well as being fundamental to the smooth operation and recording of cryptocurrency activity.
Value: The market price for bitcoin at a given time. Bitcoin is valued based on supply and demand, and is still subject to volatile price swings. As a result, the value of bitcoin is always changing – hence why many see it as a vehicle for investment, as well as a digital currency.
Supply: The total number of bitcoins that have been mined, or that are available for purchase. Bitcoin’s supply is restricted to ensure value.