If you do not have a bank account, or simply prefer not to share your bank or card information with a poker site – then WebMoney is ideal. This service sits between your bank and the poker rooms, meaning you never have to share that information. It is even possible to upload funds to your WebMoney account using a prepaid card or at a retail terminal in some countries. You can manage your account through either a PC version or an App. The PC (browser) version is called WebMoney Keeper, while the app is named ‘Lite’.
Security is enhanced by the deposit process. You will log into your account separately from the poker site to confirm your payment. This transaction will be fast too, with the money available to play with right away. The final benefit is that you can withdraw funds back to your account, and if required cash out to your bank account too.
On the ‘cons’ side, you will have one more account to set up and manage. The setup and verification is a one-off task. Smaller poker sites, including many of the offshore / Caribbean-based brands will not accept WebMoney payments. With their demographic skewed to the US, this is probably more to do with lack of demand than anything against this service.
Step by Step: Making a WebMoney Poker Payment
First you will need a WebMoney account. This is a very fast process, simply head over to wmtransfer.com and click the ‘Sign Up’ button. You will need to enter your mobile phone number, then personal details. After this there is a verification step via text message. The process will take a couple of minutes to complete. You can then follow the instructions to upload cash from your bank (via wire) or debit / credit card.
If you have not done so already, you’ll need to find a poker site that welcomes this payment option. 888 Poker are my strong recommendation here. This popular site is now the 2nd largest online poker room – and offers a mix of big promotions and easy games. There are many more options. You can find the right site for your location and games via our main poker sites page.
After you have both your funded wallet and poker account, you are ready to fund your poker account. Head to the cashier section of your site, and click on the WebMoney logo. You will see a simple screen asking for your account details (not password!), and the amount you want to deposit. There is often a space for a bonus code at this point in the process.
When you click submit, you will need to log on separately to your WebMoney account. Make sure you are doing this in a secure browser session. When you complete the log-in, you will see the transaction which you initiated at the poker room. All you have to do now is verify this by hitting the pay button.
Next you return to the poker room, and your balance should be available right away.
When you come to withdraw, the process is even easier. You simply enter your account details, along with the amount you want to withdraw and press the ‘submit’. Most poker sites will manually review withdrawal requests, which will create a delay of 24-48 hours’ minimum before your cash out is processed. Keep in mind that most poker sites will ask for Id along with your first withdrawal.
How Does WebMoney Compare to Other Electronic Wallets?
There are a lot of electronic wallet services around these days. While WebMoney has been around longer than most, this is far from the only option available. Here are some alternatives:
PayPal: This is the most popular online wallet service around, and was famously started by Elon Musk and Peter Theil, before being sold to eBay. The key benefit to this service is the strong buyer protection offered. Keep in mind that the fees are a little higher than for most services, and only a small number of the biggest poker sites accept it.
Neteller / Skrill: I am putting these together since they are owned by the same company. Both have a long history with online gambling, and both charge fees when you send money – rather than when you receive it.
iDebit: This is one of the few electronic wallets which is available to Canadian players – as well as in many other jurisdictions around the world. Here you upload money from your bank, and then create virtual MasterCard numbers to use for your payments. iDebit is not ideal for withdrawals, though is a quick and easy way to make poker payments without using your own bank account.