June US Payment Processing Report
Owing to the popularity of Lock Poker, it has been included in this report. Lock Poker recently acquired the Cake Poker Network and rebranded it the Revolution Gaming Network. Hopefully the new acquisition will resolve the sluggish payout problem that had been a constant feature of Cake Poker.
Intertops A
For a while now, Intertops has maintained its position at the top and recently occupied the first place. Intertops has been a part of the online gambling industry since 1996 and is extremely well versed with the processing of payments.
Players are receiving their checks in a little more than a week. A $50 fee is charged on these checks, which can be requested for amounts between $150 and $3000. A cash transfer from Intertops takes just two days to arrive. It costs $0 for a transfer of $150 to $500, $85 for $501 to $1000 and $180 for amounts between $1001 and $2500. Bank wires costs $50 for cash out that can amount to a maximum of $2500. But these are unavailable at the moment.
True Poker/ Americas Cardroom A-
True Poker and America’s Cardroom hold memberships in the Winning Poker Network. The payouts have slowed down a bit, although they still occur within a decent timeframe. Players receive their checks in about 10 to 20 days after they are requested. One free check can be requested by players every month and any additional checks will be charged at $65. Players in the US can cash out with their debit card, which works similar to an ATM card.
The special cash out debit card takes about one or two weeks to be delivered and costs $25. Cashouts with this card take around 4 days. Cash transfers get processed in 2 or 3 days.
Carbon Poker B-
Carbon Poker’s checks are slower compared to last month. Checks are currently taking about 4 to 5 weeks to arrive. This time frame was limited to 3 to 4 weeks in April. A 5% fee is charged on all cash transfers, which takes one week processing time.
Lock Poker B-
All US players have two cashout options on Lock Poker. You can choose cash or check transfer, depending on your convenience and requirements. The maximum cashout for a check is $3000 and for cash is $250 at present. The maximum for cash transfer is $850. One free cash payment is allowed for players per month. Any additional cashouts are charged at $25 for checks and 10% for cash transfers. All cash transfers requested by players get the 10% fee automatically deducted from the total amount even if the request is the first of the month. This amount can then be credited back to players’ accounts by sending out an email to Lock Poker support.
Checks take about 3 to 5 weeks to arrive. Cash transfers take a week to be processed. There have been instances of lengthy delays in relation to cashouts. If these issues are fixed by next month, Lock Poker will get a higher grade.
Bovada/Bodog C-
Bovada is Bodog’s US brand, which had a difficult month. The time for checks to arrive has been reported at 6 weeks by players, which is a rise from April’s 3-4 week record. Some players have even reported checks that bounced. Cash transfers are available to certain players, which take between 3 and 4 days. MyPayLinq cashouts take just 2 weeks, but cost a fee of 10%.
A bonus of $50 to $500 is awarded to players, who have delays with their check withdrawals. The necessity of a wager requirement for the bonus is unclear, but consensus shows a 3x point requirement for every $1 in bonus.
Cake Poker D-
The checks from Cake Poker are taking between 4 and 5 months to reach the doorstep of players. The situation just keeps getting worse. Players are hoping the recent acquisition of Cake Poker by Lock Poker will clear this check request backlog, which seems to be accumulating.
Everleaf Gaming F
Everleaf Gaming put a halt on letting US players play more than 3 months ago. The gaming network still has to pay its US players. These players can only receive payments if an offshore bank account has been created for this purpose. Players that are not from the US have reported cashout speeds of 2 to 4 weeks, causing some concern.
BetOnline No Grade
Poker players are contributing minimal information about BetOnline‘s cashout speeds. Players who bet on sports are receiving prompt payouts, but those who bet on poker have reported problems in getting their cashouts following big wins. BetOnline’s payments toward players in the US will be continuously monitored and we are hoping it will get a better grade in the future.
Thanks to PokerAddict for his permission to use information from his research. His full post is available here.