Nevada Online Poker Information
Nevada is now a pioneer of legal US online poker era as they became first state in the United States that has decided to regulate and legalize online poker. This is possible through the Assembly Bill 258 that was put into effect on June 10, 2011 and gave the Nevada Gaming Commission the authority to set regulations and rules for online poker. This includes handling the operator licensing requirements as well. Rewards that might be associated with legal Nevada online poker websites include hotel comps and deposit bonuses.
Nevada Online Poker FAQ
Q: Can players transfer money to other players
A: No.
Q: Do I need to be a Nevada Resident to play for real money?
A: No, anyone over 21 years old from any state or country can register and then play anytime they are physically in Nevada.
Q: Can I deposit BEFORE my trip to Nevada?
A: Yes, you can create and fund your online poker account ahead of time, so it’s ready as soon as you arrive in state.
Q: Can I get a line of credit at the poker site, like I can at their Casino?
A: No.
Q: Can I deposit with a credit card?
A: Yes, but most banks aren’t allowing the transactions yet. Mastercard has a higher approval rate than Visa. You can also deposit with an instant e-check, bank wire, check by mail or deposit (and withdraw) at the cage at the actual casino.
Q: How are winnings taxed?
A: Only if you win $5,000 or more in a single poker tournament. A W2-G will be issued to you and to the IRS.
The Current Players
- WSOP – Owned by Caesars and uses 888 software
Ultimate Poker– Owned by Station Casinos and launched April 30, 2013 and was first to go online. They shut down operations on November 17, 2014 citing a “challenging operating environment” which means they spent way more on advertising than was even close to the amount of revenue predicted.
Getting a License for Online Poker in Nevada
In order to provide an online poker website in Nevada, the company has to obtain a license to operate that website. Only established gaming companies are able to obtain this license. In addition, that company has to own a hotel that features 200 rooms or more. so basically, a brick and mortar casino with a hotel of >200 rooms. However, other types of companies (like poker software companies) that are interested in online poker have the right to apply for licenses by partnering with the main operator of an online poker website.
Online Poker Protection in Nevada
The regulations are designed to protect online poker consumers are in place as well. For example, online poker websites that are legal in Nevada have to provide loss limits, deposit limits and a 10% rake cap. Each online poker company must also make sure that the consumer can gain easy access to information regarding their company and dispute resolutions. Most importantly, the company has to make sure that a certain amount of money has to be separated from the company’s operating funds. This money must match the total amount of funds that all players have deposited into their account.
Legal Nevada Online Poker Companies
Quite a few different popular companies have been able to obtain online poker licenses. For example, this includes Boyd Gaming, Golden Nugget, Caesars Interactive Entertainment and MGM. Other lesser known companies have been able to get the license that is required for online poker in Nevada as well. These companies include Monarch Interactive, Sartini Synergy, Lottomatica, South Point and ACEP. However, it is likely that the bigger poker companies will be the major players in the online poker industry. This is because these companies will have the marketing resources, name recognition and financial resources that other smaller companies might not have.