Keeping bankroll in online wallet when not playing?

    • GraemeDR
      GraemeDR
      Bronze
      Joined: 19.01.2011 Posts: 156
      How to people feel about keeping their bankroll in an online wallet (like Skrill for example) and cashing it in and out every session, maybe just cashing in for the amount of your usual stop-loss. Playing different sites at different times etc.

      Does anyone do this? Or anything similar?

      Thanks
  • 4 replies
    • esowes
      esowes
      Bronze
      Joined: 07.06.2012 Posts: 65
      Some low- to mid-stakes regulars I spoke to do this. They're bankroll is in their bank account or online wallet and they deposit 10BI's or whatever to play. I think you're losing a lot on taxes in the long run if you just withdraw after every session, doesn't seem a reasonable option to me. You can withdraw when you pass over 30BI's for example.

      I do this myself.
    • GraemeDR
      GraemeDR
      Bronze
      Joined: 19.01.2011 Posts: 156
      Well I don't pay taxes on poker (or any gambling) I'm from the UK, so I pay tax on almost everything else you can think of but not poker.

      I was thinking it might help make use of a few different sites (stars, full tilt and unibet for example) but I suppose I could put 10 BIs in each and leave the rest in the wallet as a central account. Think I might start doing this.

      Thank you for your reply and advice
    • martinemem
      martinemem
      Bronze
      Joined: 05.07.2011 Posts: 596
      If im not totally wrong, you pay % tax, not fee. So in that matter, it doesnt matter if u withdraw everytime you change table and get a double up, or you only do it when you need them.
      But im not sure. You should check this before you start doing this imo.

      Maybe there is a small fee+the % tax you pay for it.
    • GraemeDR
      GraemeDR
      Bronze
      Joined: 19.01.2011 Posts: 156
      As I understand it, if I did pay taxing would be % not fixed fee or subject to any min/max so it wouldn't matter how little, how much or how often you cashed in/out, you'd end up paying same % tax.

      As a UK player though, I do not pay any tax at all on poker or gambling. Even when taxed abroad (for example if a uk resident is taxed on their winnings in Vegas) we get to claim our tax back from the authority that took it before we return to the uk.