Cash App for Online Poker
A benefit of continuous technological improvements in American society is the steadily increasing speed and accuracy of digital payment solutions. Cash App is a part of that progressive technology and became popular in recent years, especially with younger generations.
Square Cash
It started as Square Cash, a mobile payment service launched by a company called Square Inc. The American-based company began in 2009, with Jack Dorsey (co-founder and former CEO of Twitter) and Jim McKelvey at the helm. They launched Square out of an office in St. Louis, Missouri, as a payment solution for small businesses. It allowed them to accept credit card payments via attachments for smartphones and tablets, serving as credit card readers had done in the past.
Square ultimately became a publicly-traded company in 2015 and eventually changed its name and branding to Block Inc.
One of the payment solutions that came from Square Inc in 2013 was Square Cash, the brainchild of Block founders and software engineer Bob Lee. Square Cash was a mobile payment service initially available to people in the United States and then in the UK.
Cash App
In 2015, the company introduced Square Cash for business use, which meant that people and businesses could use it as a payment method for goods and services. Operating as $cashtag, it became wildly popular and changed its official name to Cash App. It became even more widely used when it allowed bitcoin trading in 2018 and stock trading in 2019.
During this increase in popularity, online gambling platforms took note and began to offer Cash App as a payment method.
Advantages of Using Digital Payment Methods in Online Poker
Cash App was not only a digital and quick option, it was a reliable and trusted alternative to ewallets and credit or debit cards. At a time when many of those payment processors were moving away from online gambling, Cash App provided an alternative.
Specifically in the United States, the Black Friday crackdown on igaming, specifically online poker sites, scared many payment processors into banning online gambling transactions. Offshore sites accepted credit and debit cards – Visa, Mastercard, and American Express – but many individual financial institutions through which those cards operated decided to block transactions to and from gaming sites.
While cryptocurrencies like Bitcoin were becoming a popular way to conduct online poker transactions, not everyone wanted to dabble in crypto. And with options like Venmo and Zelle tied so closely to the same financial institutions that were blocking gambling transactions, Cash App was the best alternative.
For players, Cash App was an easy choice, as it was quick and digital, moving money for online poker the way they did for other online goods and services.
Introduction to Cash App and its Features
Cash App is an app, one that is available via cash.app or via the Apple Store or Google Play. The download is quick and simple, ready for immediate use after setting up a login for a new account.
Those using it can send money, request money, and receive money from other Cash App users instantly. Users can also order a Cash App Card – a customizable Visa debit card – from Cash App that works online for digital purchases as well as with merchants that require customers to swipe, insert, or tap a card in a machine.
Some of the ways that customers use Cash App:
- At participating ATMs to withdraw cash from a Cash App account using the debit card
- Transfer any amount of money between friends, to reimburse for purchases, meals, etc.
- Receive paychecks, tax returns, and government benefits directly to a Cash App account, faster than most bank processing
- Find discounts at some stores, restaurants, websites, and apps for using Cash App
- Buy, sell, send, and receive Bitcoin (BTC)
User-friendly Interface and Ease of Navigation
Cash App has been downloaded more than 50M times as of mid-2023. It is one of the most used financial apps in the world.
Users must be 13 or older. The company’s decision in late 2021 to reduce the user age from 17 to 13 opened its customer pool to millions more people. It became a regular way for teenagers to help each other pay for things or loan each other a few dollars, and parents used it to send money to kids for everything from lunches to allowance payments.
Its simplicity is one of its perks. Users can scan the code of another user to send money to them. Or they can simply use their $cashtag identification, phone number, or email address to set up another person or entity as a contact.
For poker players, the ease of money sharing is vitally important. Poker players, whether playing live or online, are notorious for backing or investing in other players, loaning money, buying pieces of action, or simply giving gifts.
When online poker sites began to open up to the use of Cash App, it was a game changer. Players didn’t have to worry about the fees associated with credit or debit cards or the fine print of PayPal that authorizes the seizure of funds. It was a quick and easy way to fund an online poker account or withdraw winnings.
Security Measures and Encryption Protocols for Cash App Transactions
Cash App encrypts data in transit, ensuring that the personal information of its customers travels through a secure digital connection. In fact, the company notes that it uses PCI-DSS Level 1 certification to encrypt data. And its servers are secure and encrypted, whether customers use a public or private Wi-Fi connection or data service, including 3G, 4G, and EDGE.
For user security, there are many ways to protect their information. They can set up a PIN number for entry, touch ID, or facial recognition. And in the case of a stolen or lost electronic device, the user can pause the card’s use instantly.
For those using Cash App for Bitcoin, their crypto balances are stored in an offline system, ensuring its safety.
Block does not use Cash App to share information with third parties. It also allows customers to request that their data be completely deleted.
The Intersection of Cash App and Online Poker
At first, Cash App appeared to be the ideal solution for online poker players, especially those in the United States and ring-fenced markets, to transfer money to and from their favorite poker sites. And it has been for a great many poker players, just not always used in the simplest way.
Overview of the Use of Digital Payments in Online Poker
The current state of online poker limits the way that players can deposit and withdraw money for online play. Many financial institutions have been soured on gambling transactions. They categorize poker in the same way as games like slots, and many banks don’t want to have anything to do with gambling. They have also been influenced by the UIGEA (Unlawful Internet Gambling Enforcement Act) of 2006, which forbid many said financial transactions.
Some banks that issue Visa, Mastercard, and American Express do still recognize online poker as a personal choice, and they will facilitate deposits – and even sometimes withdrawals. However, many players have had to find alternate methods.
The most frequently-used method in the last several years is cryptocurrency. Once a player has a crypto wallet and has mined for Bitcoin or another form of digital currency, they can deposit and withdraw instantly in most cases. They also leave no digital footprint and no paper trail, as said transactions are anonymous on the crypto side.
Not every player wants to dive into the world of cryptocurrency, however. And that is where alternate forms of payments have come into play.
Benefits of Integrating Cash App with Online Poker Platforms
If an online poker site accepts Cash App as a direct form of depositing and withdrawing funds, that is what many Cash App customers prefer. The digital transactions are quick and link directly with a variety of ewallets and banks. It is a straightforward transaction, secure and insured by a publicly-traded company.
Poker sites that don’t directly accept Cash App find players using that payment method as a surrogate of sorts. Since currencies like Bitcoin can be overwhelming for those new to the world of crypto, Cash App can serve as an intermediary to simplify the process.
Cash App has a direct relationship with Bitcoin, the most popular form of crypto. It enables the user to link their Cash App account or card with any amount, and that connects to the Lightning Network. That provides the opportunity to:
- Enable all or part of direct paycheck deposits to a Bitcoin account.
- Buy Bitcoin.
- Create a savings investment account.
- Avoid any government regulation of Bitcoin funds.
- Gift Bitcoin to other people and receive crypto gifts.
- Deposit and withdraw from online poker and other gambling websites.
- See immediate exchange rate value for Bitcoin.
All of this means that the multi-functional Cash App connection to Bitcoin makes deposits and withdrawals for online poker simple and smooth. And all funds are safe in a secure, cold storage solution overseen by Block Inc.
With a Cash App account linked to crypto, gone is the discomfort with Bitcoin transactions. When making a deposit to an online poker account, the player can simply use the Bitcoin method without worrying about mining for Bitcoin, creating a crypto wallet, or even understanding the ins and outs of crypto. Simply use Bitcoin through Cash App to complete the simplest and cheapest igaming transactions.
Setting Up Cash App for Online Poker
The steps to starting a relationship with Cash App are simple. It is no different than any other banking app. In fact, it is often quicker and more straightforward, especially with the help of the app and/or website that walks users through every step.
Download and Install Cash App
A new Cash App user can go to their Apple or Google Play app store and search by Cash App. It will come up immediately, as it’s often ranked as the top free finance app. A visit to the Cash App website will also bring up a QR code easily scannable into any smartphone.
The download takes just moments. The next steps are just as simple:
- Open the app.
- Enter your phone number or email.
- Enter the code sent to that phone number or email for verification.
- Link a bank debit card (or skip this step).
- Enter your legal first and last names.
- Enter a unique $Cashtag identity for receiving payments as instructed on the screen.
- Enter your zip code.
- Request a Cash App bank card (or skip this step).
- Invite friends to sign up for Cash App to receive $10 (or skip this step).
The initial process is complete. At that point, the new user can edit their profile by adding a photo, entering a bio, link banks or family members, set limits, determine notification preferences, and set up any details in the settings.
To buy Bitcoin for online poker deposits, simply go to the “money” tab on the home screen of the app, click on “Bitcoin,” and press “buy.” After selecting an amount, there will be a brief verification with a PIN and then confirmation.
Cash App is very self-explanatory and walks users through every step of any transaction choice.
Ease of Using Cash App for Online Poker
If there is one thing that is important to poker players and their money – besides winning money, of course – is being able to deposit and withdraw it quickly. Some methods of transferring funds to and from online poker sites take days, which is not helpful to players who want to move their money to other sites in time for a tournament series or for a live event. Prompt financial transactions are extremely important to poker players.
Cash App works well for this, as transactions are instant, even with buying and selling Bitcoin. In fact, it has honed the process of Bitcoin transactions down to a few simple clicks on the app.
Poker sites have been encouraging players to use Bitcoin for years, but many players were not ready to dip into the crypto world. With Cash App, they don’t have to invest a lot into Bitcoin, mine for it, or even understand how it all works. Cash App handles all of that with just a few clicks, then shows the user what happened and what the US dollar equivalency is, for simplicity’s sake.
Making Deposits and Withdrawals on Online Poker Sites via Cash App
The main thing to remember when depositing to and withdrawing from poker sites online is that the method to use is Bitcoin. Cash App does not appear as an option, as the currency will be Bitcoin. Cash App will me the conduit, the connection between the user and Bitcoin.
Step-by-Step Guide to Depositing Funds Using Cash App
Simply start by logging in to your account on the poker site you choose. Go to the cashier, indicate that you want to make a deposit, and then…
- Click on Bitcoin as your deposit choice.
- Choose the amount you wish to deposit, keeping in mind that there is typically a minimum amount of a $10 or $20 USD equivalent. When you enter the amount of USD, the site will automatically calculate the BTC (Bitcoin) equivalent.
- Type in a promo code if you have one. (Hint: We have promo codes for many US-facing online poker sites. Click on the review of any site to find the code.)
- The site will attempt to find a payment processor for your Bitcoin deposit.
- Scan the QR code on the screen with your Cash App, and the deposit will complete within moments.
At any point, if you experience any problems or questions, simply click on the “Help” or “Live Chat” button on the poker site. Any customer service representative will be able to provide assistance to complete the transaction.
Verifying identity and enabling security features
By using Cash App for Bitcoin transactions, the security features are built in. Cash App uses the Lightning Network and the latest encryption technology (PCI-DSS Level 1 certified) to protect each transaction and the money in every account.
Users can enable extra security features on their Cash App accounts. Available options are PIN codes, touch identification, and face identification. Also, by enabling all push, email, and text notifications, customers are aware immediately of every single Cash App transaction. If the customer notes fraudulent activity before Cash App detects it, a quick message to Cash App’s customer service department will allow them to freeze the account to stop fraud in its tracks.
Adding funds to the Cash App wallet
The easiest way to add funds to a Cash App wallet is through a bank account. Simply link Cash App to a checking or savings account at any bank, and transfer the amount desired.
Without using a bank account, a customer can also add cash – paper money – to their Cash App at a variety of retailers. In the app, choose the “paper money” option to find the nearest location. There is also a list that includes Walmart, Walgreens, 7-Eleven, Family Dollar, Rite Aid, Dollar General, and H-E-B. After the user verifies his or her identity, they can deposit up to $1,000 in cash every seven days, though only $500 at one time. And the minimum deposit is $5.
For those paid from employers via direct deposit, Cash App users can arrange for their paychecks to be deposited to their Cash App account rather than a bank account.
Withdrawing Poker Winnings to Cash App
The withdrawal process is just as simple as the deposit method of transferring funds for online poker. The only caveat is that the player must be withdrawing the minimum amount required. All sites are different, so pay attention to the requirements of $10 or $20 minimum Bitcoin withdrawals.
With that in mind, simply go to the cashier page of the online poker site, indicate the desire to withdraw funds, and choose Bitcoin for that transfer. The site will walk the user through the process.
It is at this point that the poker site may require some identity verification, especially if it is the first time the player withdraws in this way. This is likely to require the player to send a copy of a driver’s license, passport, or Real ID, as well as a copy of a utility bill or something to verify the address on their account. Copies can be scanned and uploaded, then sent to the poker site via email or an upload form on the site. This process is for the player’s safety, so hackers and thieves cannot find their way into a player’s account and drain their account.
Bitcoin withdrawals are typically processed in the same day, if not within minutes. The only time delay will be the verification process the first time the player withdraws in this manner.
Analyzing the Pros and Cons
As with any financial transaction – or any decision regarding money in general – there are pros and cons to choosing Cash App.
There are many more pros than cons, but the cons are quite important. Whether a recreational poker player who intends to play once or twice and withdraw winnings, or a more regular player who will need to transfer money regularly, the decision of the banking method is one that deserves more than a few minutes of consideration.
While a person can always change the method they use for depositing or withdrawing for online poker at any time, every player should feel comfortable with their decision and confident in its security, speed, and legality.
Let’s take a closer look.
Pros of Using Cash App for Online Poker
As mentioned, there are quite a few reasons to consider using Cash App for online poker or any igaming transactions.
- Security of funds, as Cash App employs numerous high-level encryption and fraud prevention techniques to ensure that funds and personal information are safe.
- Speed, as using Cash App to process Bitcoin transactions is a quick – often instant – method to transfer funds to and from online poker sites without waiting days or possibly a week or more for bank transfers and checks to process.
- Convenience, as Cash App is an app that anyone can download to any mobile device – Android or Apple – for ease of use.
- All-in-one banking, as users of Cash App can connect it to Bitcoin, bank accounts, a Cash Card, paycheck direct deposits, ATM withdrawals, bill payments, paper money deposits, person-to-person transfers, and even stocks.
- Investing, as Cash App facilitates investments in stocks, cryptocurrency, and savings accounts, with tracking available in the app.
- Confidence, as Cash App’s parent company Block Inc is a publicly-traded company and responsible for governmental audits and regulations.
- Tax reporting, as Cash App helps users file taxes with no fees for federal or state filing forms, and it provides free audit defense as well as step-by-step filing assistance.
- Support, as customer service representatives are available for Cash App users around the clock via online chat and Monday through Friday (9am to 7pm EST) by telephone at (800) 969-1940.
- Full transparency, as Cash App provides a status screen on its website to show every incident regarding technology glitches and bugs, app updates, and delays or outages.
The biggest pro for online poker players is that Cash App facilitates deposits and withdrawals via Bitcoin to almost every online poker site in the world.
Other Pros
Further, online poker sites often offer special bonuses, promo codes, and promotions for only for Bitcoin users. This is usually a larger deposit bonus and reload bonus, as well as occasional specials that operators will message to Bitcoin users. In addition, some poker sites have started offering Bitcoin and crypto tournament series, especially for players who use that method to accept winnings.
Since many players now use smartphones and tablets to play online poker, the use of Cash App to process Bitcoin transactions is even smoother. Everything happens on a mobile device, making it even quicker and simpler.
Cons of Using Cash App for Online Poker
As with any financial app or method of transferring funds, nothing is perfect. There are some downsides to using Cash App, though some of the cons also apply to other methods, like credit cards and bank transfers. Even so, it’s important to consider those downsides.
- Fees, as Cash App does charge a fee to exchange cash for Bitcoin and vice versa (amounts based on processing speed and mining fees), a fee for ATM withdrawals ($2.50 per transaction with some exceptions), and a processing fee for receiving cash to a Cash for Business account (2.75% per payment).
- Exchanges, as people wanting to use currencies other than USD and Bitcoin may pay exchange rate fees and differences.
- App outage, as there can be an app glitch that takes Cash App offline for a period of time or requires WiFi to complete transactions.
- Not universally accepted, as Cash App is not yet available for cryptocurrencies other than Bitcoin, not accepted with every bank (especially those based outside of the United States), and not an option for every poker or gambling site.
There is one massive downside to using Cash App for online poker transactions, and that is the possibility of being flagged for using the app for gambling purposes. While poker players realize that poker requires more skill than luck, poker is still lumped in with gambling in most businesses and financial institutions.
Other Cons
In truth, Cash App’s gambling policy is somewhat confusing. In the “Cash App Acceptable Use Policy,” gambling is listed as something not allowed, and gambling is defined as “risking anything of value to get something of value based on a certain outcome.” That ambiguous definition can be applied to a great many things. In addition, many people see poker as more of a calculated risk than a gambling risk.
It should also be noted that the Terms of Service for Cash App lists a group of prohibited activities, and the TOS reads, in part: “You will not use the Service (Cash App app) for any illegal purpose, including engaging in any criminal or tortious activity, including without limitation child pornography, fraud, trafficking in obscene material, drug dealing, gambling, harassment, stalking, spamming or theft of trade secrets.” Again, the type of gambling is not clear, as the app is likely permitted for the purchase of lottery tickets and fantasy sports. It is unclear if poker falls into the “gambling” category.
Thousands of people use Cash App to transfer Bitcoin to and from online gambling websites without issue. However, if Cash App chooses to accuse a customer of gambling, Block Inc can close that person’s entire Cash App account and ban them from using it in the future in any capacity. This has happened to a few players.
Security and Responsible Gambling
As previously discussed, the security used by Block Inc for all Cash App transactions and storage is top-level technology. There is no issue with the safety of funds in Cash App or the processes by which its users transfer money to and from other users or merchants.
There is the issue of responsible gambling, however, that is a part of every poker and gambling entity that values its players.
Cash App, itself, offers no responsible gambling advice. The onus is on the merchant to inform its players, and all of the top online poker sites provide a responsible gambling.
Responsible Gambling Policies in Online Poker
Poker sites should list their responsible gambling policies on their home page, somewhere for players to clearly see and be able to find assistance. Some examples are:
Ignition Poker
At the bottom of the home page, it reads, “Gambling should be entertaining. Remember that you always risk losing the money you bet, so do not spend more than you can afford to lose. If you think you may have a problem, click here.” That takes the player to a page of responsible gambling policies, such as preventing underage gambling, as well as listing advice for players to gamble responsibly and a set of questions to indicate if that person may have a problem.
There are several links provided, such as to Gamblers Anonymous and Gambling Therapy nonprofit organizations, and a note to contact a customer service representative to institute any self-imposed limits or full self-exclusion.
BetOnline Poker
The bottom of the home page provides a “Quick Link” to its responsible gambling page. This lists questions to ask oneself about gambling habits to assess any level of risk for dependency and addiction. This page provides links to Gamblers Anonymous and Gambling Therapy as well, along with services that BetOnline provides.
For example, players can set deposit limits for themselves by speaking with a representative in the player services department. They can impose a time limit, dollar amount limit, or a full exclusion for any period of time, including in perpetuity.
ACR Poker
A box at the bottom of the page notes, “Our responsible gambling program makes sure every player is of legal age and also gives you the option to self-exclude for a time period from our tables, sportsbook or casino.” The link to the Winning Poker Network policy, however, is only found through clicking on “Real Money” at the top of the page, then “Responsible Gaming” under “Security & Integrity.”
This shows the various ways that players can ban themselves from games, restrict buy-ins and deposits, set stop losses, disable certain games, or disable their entire account. Essentially, players can do all of this themselves in the Settings menu of their personal account, or they can contact a customer service representative for help.
Resources for Gambling Help
There are several organizations a person can contact if they feel at all uncomfortable with gambling or in danger of gambling too much or beyond their means. There are two major organizations available across the United States and beyond.
Gamblers Anonymous is the most well-known and provides a phone number and meeting locations on the home page. There are also online meetings, international services, and even help for family and friends of gambling addicts.
Gambling Therapy is another group, based in the United States but offering worldwide assistance. The home page provides links to everything from information about gambling issues to support options.
The Future of Cash App in Online Poker
There are a number of ways Cash App can choose to go in relation to online poker. The best way for players is for the app to continue providing a simple connection for poker players to their favorite poker sites through Bitcoin. However, if Block Inc goes in the opposite direction and begins to block more players for “gambling,” it could be a big problem for all players and the poker sites on which they play.
Potential Collaborations Between Cash App and Poker Platforms
The use of Cash App for depositing and withdrawing funds from online poker sites with Bitcoin seems to be a marriage made in poker heaven. The connection of players to crypto without having to dive into the crypto waters has provided the opportunity for many more players to compete.
The future of this financing path depends upon Cash App’s decisions about players using the app in this way. Poker sites have made a good argument about the game being one of skill over luck, and this may keep poker operators out of Block Inc’s focus. In this case, players will continue to use Cash App, and more of them will realize how simple it is to transfer Bitcoin through this method.
There is little likelihood that Cash App will ever work directly with offshore poker operators, those licensed outside of the United States. Cash App and parent Block Inc are US-based companies. With that said, it could work with licensed sites in states like Nevada, New Jersey, Michigan, Pennsylvania, and Delaware to facilitate direct deposit and withdrawals to poker sites without the necessity of Bitcoin as the conduit. This may happen, especially as legal online poker becomes more prevalent with state regulators.
Integration of New Technologies
There is also the possibility of Cash App expanding to other cryptocurrencies beyond Bitcoin. While Bitcoin is the safest and least volatile of all crypto options, there are others like Ethereum and Litecoin that have stood the test of time thus far. Should Cash App expand into other cryptos, more players could get involved in crypto investing and have more options for online poker transactions.
At the same time, it is unclear if Cash App will continue to allow its connection to Bitcoin or any other crypto to be used by online poker players.
Conclusion
In the early days of online poker, players could use a credit or debit card or ewallet to send money to their online poker accounts and withdraw winnings. It was a safe process and one that required little planning or consideration. Everyone was doing it.
Two decades later, everything has changed. The UIGEA and Black Friday forced online poker into some dark times, and offshore poker sites remain the only option – still – for the majority of poker players in the United States. And the growth of said offshore sites has made them even more appealing to the US poker community.
Funding those offshore poker accounts, however, has become tougher than ever. Banks and other financial institutions are more wary of allowing any gambling, a category many of them use to include online poker and sports betting. This makes the use of traditional debit and credit cards more difficult, and the use of sites like PayPal almost impossible.
This has led to players getting more creative. And the rise of cryptocurrency delivered a unique opportunity to partner Bitcoin and apps like Cash App to provide the best of both worlds for players. They are able to invest in crypto at the same time that they can easily and quickly fund their poker accounts and cash out when ready.
The future of this option for online poker rides on a number of conditions, including Cash App’s policy implementation and US lawmakers’ decision to act to legalize online poker.
