What "mediums of exchange" do you take at your home game? (1 Viewer)

[trever]

As true as all the detailed reasons are, this is the heart of it for me.

I know it's heresy on Poker Chip Forum, and it's definitely not best practice, but I don't even mind playing with straight-up cash piled up on the table.

Poker is about winning and losing cash for me, not nudging digits up and down on some app. I know both are money, but it doesn't feel the same at all.

I miss the days when Vegas let you use cash at the poker table. Nothing is more fun than stacking your chips on top of a pile of $100 bills

 

[JustinInMN]

I miss the days when Vegas let you use cash at the poker table. Nothing is more fun than stacking your chips on top of a pile of $100 bills

I caught they very tail end of this era in 2011 when 100s were allowed to play, but I guess somewhere along they way they decided it was better for action/security/whatever

 

[jamesjkim]

This is mostly dependent on your own group, how well you know them, the size, and format of game. For us, we often don’t even pay first. We’re close friends and play 5 or 6-handed winner takes all tourneys. It’s easier for us to give $ in whatever form to the winner at the end.

 

[NeutronHim]

"Poker is about winning and losing cash for me, not nudging digits up and down on some app. I know both are money, but it doesn't feel the same at all."

Wow! I feel the exact opposite. With the cash in my hand I'm thinking more about what I can buy with the cash and I feel a lot of pressure. With the money in an online account it becomes an abstraction -- similar to trophies in Clash Royale, with stakes being like arenas, if anyone here happens to be young enough to know what I'm talking about. I have the good fortune of having a venmo account almost solely for poker and a bank account almost solely for life, so it helps mark the contrast between "life money" and "trophies," if you will.

Feels way worse to lose money than to lose trophies but it felt pretty bad to lose trophies back in the day as well; the swings / strategy are fun.

 

[Poker Zombie]

I prefer cash, but we have had 2 players that rarely have cash, so they insist on Venmo.

Between the two of them, 167 buy-ins, 28 cash outs.

Are you really going to say "no"?

 

[Jimulacrum]

I prefer cash, but we have had 2 players that rarely have cash, so they insist on Venmo.

Between the two of them, 167 buy-ins, 28 cash outs.

Are you really going to say "no"?

I'm not going to say "no."

I'm going to say "Find someone to sell your Venmo funds for paper money, and then buy in with that."

The "rarely have cash" excuse is nonsense. It's not like they're expected to show up with a bag of uncut emeralds. Take 10 minutes to hit up a bank or an ATM.

 

[allforcharity]

Up here in the Great White North all the banks got together to make a decision to allow direct account transfers between bank accounts for free. No need for 3rd party apps or anything. Has made transition to cashless games easy for those who want to do it.

 

[Poker Zombie]

Up here in the Great White North all the banks got together to make a decision to allow direct account transfers between bank accounts for free. No need for 3rd party apps or anything. Has made transition to cashless games easy for those who want to do it.

What's your Bankroll for tonight?

What do I have in the bank?

I doubt that would ever fly in the land of the "free"

 

[Taghkanic]

I caught they very tail end of this era in 2011 when 100s were allowed to play, [...]

The thing I don’t like about it is when people place their cash in a way that makes it hard to count.

(If someone is rebuying or topping off, I’ll let cash stay on the table until they get their new chips.)

 

[timinater]

Cash only on the day of, if you want to buy-in ahead of time bank to bank transfers (Interac E-transfer) are ubiquitous, instant and for most bank accounts, free in Canada.

 

[JustinInMN]

The thing I don’t like about it is when people place their cash in a way that makes it hard to count.

(If someone is rebuying or topping off, I’ll let cash stay on the table until they get their new chips.)

Part of why the rules had always been 100s only for cash in play, makes it somewhat easier to count in plain view.

Definitely a good practice to let cash stay on the table to represent chips in transit though .

 

[NotRealNameNoSir]

What's your Bankroll for tonight?

What do I have in the bank?

I doubt that would ever fly in the land of the "free"

Wells Fargo and many other US banks use Zelle, very helpful.

 

[B0mbp0t]

Both are welcome. I keep a ledger that splits cash and electronic going. If you use electronic, I reserve the right to pay you however I see fit (cash or electronic).

 

[maloviz]

I do cash in the bank. Electronic is fine as long as it is backed up by cash.
For example, last week someone showed up to our $25 tournament with only a $100 bill. I told them if they sent me $25 on cash app I'd buy them in with cash.
I've also had players run out of cash and cash app/venmo other players that did have cash so they could buy them in.

This way the cash is always on hand for pay outs.

 

[jcooper911]

I do cash in the bank. Electronic is fine as long as it is backed up by cash.
For example, last week someone showed up to our $25 tournament with only a $100 bill. I told them if they sent me $25 on cash app I'd buy them in with cash.
I've also had players run out of cash and cash app/venmo other players that did have cash so they could buy them in.

This way the cash is always on hand for pay outs.

This is my way and works well every time.

 

[MeridianFC]

I do cash in the bank. Electronic is fine as long as it is backed up by cash.
For example, last week someone showed up to our $25 tournament with only a $100 bill. I told them if they sent me $25 on cash app I'd buy them in with cash.
I've also had players run out of cash and cash app/venmo other players that did have cash so they could buy them in.

This way the cash is always on hand for pay outs.

To me this seems the best use of electronic payments. "Cash always on hand for payouts".

Interesting insights from everyone.

 

[4SUMERZ]

Cash only at my game. My guys are all retired, so lot's of time to get to an ATM to get cash before game night.
Cash IN, cash OUT. The money amount is exactly what the chips say. $20.00 in cash gets you excatly $20.00 in chips. Easy to figure out at cash out time.
We play $.25/$.25 blinds so $20.00 gets you 80 BB.

 

[Swarlos]

We only use cash. But there is always someone willing to take electronic funds in exchange for cash to help out.

 

[Himewad]

We only use cash. I took a Venmo payment months ago from a friend who ran out of rebuy money, though.

I actually sent out an email to my players asking if they want to move to electronic payments for buyins and rebuys, but it was a hard no from my group. They want to see the cash!

 

[l33tf0b]

we have weekly games at a home game with the usual rotation of 10-15 players. first come first serve to text the host including arrival time. we generally want to play earlier so once we have enough folks confirm the time - we start.

in terms of payments - we play mainly 1/2 and 5/5 so win loss usually ranges from 100 - 1500 typically. there will be winners and losers around 2500-3000 but that's not often. we use mainly venmo and zelle since we all know each other. Host does the math on the Sign in sheet with each buyin signed for by the player.
we make sure all the math is right before players leave -- Buyin = Cashout in terms of money won and money lost.

host will pay out from the buyin and then text each player "u owe this $$$ to this player" clears same night or early next morning. Never had problems since we all know each other. There are degens (friends) that are soft banned for a while until they clear debt lol

 

[Taghkanic]

The number of players wanting to use Venmo in my game has grown, and I’m kinda hating it.

1) My game plays pretty big. Often more than $10K in play, sometimes as much as $16K.

2) Most buyin, top off and rebuy with cash, but there are three regs in particular who more and more just want to settle with Venmo at the end. This is compounded by the fact that these three are among the looser players, often rebuying multiple times.

3) Problems arise because the cash-only guys don’t want Venmo, and also not everyone leaves at the same time.

4) So for example if several cash-only guys leave at (say) 1 am with big stacks while the Venmo guys are still playing… I essentially have to keep a lot of extra $$$ for the early cashouts, then get reimbursed when the Venmo crowd is done.

5) This means I’m accumulating a bunch of Venmo week over week. And have to transfer it to my bank to replenish my cash reserve.

It’s annoying, and also creates an online trail of large transactions from which I make zero profit but look like I’m moving tons of money around.

I’m thinking of just issuing a cash-only edict. I don’t think it will cause any regs to stop attending. But it may result in fewer rebuys.

 

[Poker Zombie]

The number of players wanting to use Venmo in my game has grown, and I’m kinda hating it.

1) My game plays pretty big. Often more than $10K in play, sometimes as much as $16K.

2) Most buyin, top off and rebuy with cash, but there are three regs in particular who more and more just want to settle with Venmo at the end. This is compounded by the fact that these three are among the looser players, often rebuying multiple times.

3) Problems arise because the cash-only guys don’t want Venmo, and also not everyone leaves at the same time.

4) So for example if several cash-only guys leave at (say) 1 am with big stacks while the Venmo guys are still playing… I essentially have to keep a lot of extra $$$ for the early cashouts, then get reimbursed when the Venmo crowd is done.

5) This means I’m accumulating a bunch of Venmo week over week. And have to transfer it to my bank to replenish my cash reserve.

It’s annoying, and also creates an online trail of large transactions from which I make zero profit but look like I’m moving tons of money around.

I’m thinking of just issuing a cash-only edict. I don’t think it will cause any regs to stop attending. But it may result in fewer rebuys.

I feel you.

I may need to visit the bank for the first time since I paid off my mortgage, ONLY because Venmo players are -EV, and I am covering their gap.

 

[Tight_Lay_DOWN]

we use cash up to a certain amount, and anything over that, we use chips from a local card room that we all patron for buy-ins and cash outs.

If you are visiting from out of town from the West, this card room accepts ARIA, Bellagio and Wynn Chips, along with Seminole Hard Rock and CocoNut creek chips for those from the East.
They will convert those chips to their own card room chips, or cash.

Less bulky than cash. Semi safer than carrying cash, thieves are always looking for cash and not chips. Don’t know how much safer…depends on the criminal, or the cop that pulls you over and wants to perform “Asset Forfeiture”, they are less likely to seize chips, when all they want is cash as well. Interesting how the Criminal and the cop behave the same, the same action is considered a crime and legal, depending on who commits the actions, but that discussion is for another time.

Anyway, the chips from the local card room saves us time, tracking, etc. this might not be available to everyone.

 

[surfik]

Depends on consignee....But I always make sure to have a cash to cover buyins by PayPal...

Fun Fact...

If during play you need to go to ATM we say "to visit Wall of Cry"

 

[Jimulacrum]

The number of players wanting to use Venmo in my game has grown, and I’m kinda hating it.

1) My game plays pretty big. Often more than $10K in play, sometimes as much as $16K.

2) Most buyin, top off and rebuy with cash, but there are three regs in particular who more and more just want to settle with Venmo at the end. This is compounded by the fact that these three are among the looser players, often rebuying multiple times.

3) Problems arise because the cash-only guys don’t want Venmo, and also not everyone leaves at the same time.

4) So for example if several cash-only guys leave at (say) 1 am with big stacks while the Venmo guys are still playing… I essentially have to keep a lot of extra $$$ for the early cashouts, then get reimbursed when the Venmo crowd is done.

5) This means I’m accumulating a bunch of Venmo week over week. And have to transfer it to my bank to replenish my cash reserve.

It’s annoying, and also creates an online trail of large transactions from which I make zero profit but look like I’m moving tons of money around.

I’m thinking of just issuing a cash-only edict. I don’t think it will cause any regs to stop attending. But it may result in fewer rebuys.

What you're describing is floating short-term loans (get something now, settle up later) where you take all the risk and get no benefit. That might be fine here and there, but clearly you take issue with it becoming part of the fabric of the game.

Cash is the currency of the game. It's not that hard for them to bring it. I say issue the edict.

Spoiler: Or

Start charging a 1% "service fee" for e-payments.

 

[wickedwonka121]

Depends on consignee....But I always make sure to have a cash to cover buyins by PayPal...

Fun Fact...

If during play you need to go to ATM we say "to visit Wall of Cry"

Offer tissue as you say this to them. Haha!

 

[sonic242]

We do cash with (almost) unlimited credit. We try to avoid anything digital but will accept it for smaller amounts

 

[CraigT78]

The number of players wanting to use Venmo in my game has grown, and I’m kinda hating it.

1) My game plays pretty big. Often more than $10K in play, sometimes as much as $16K.

2) Most buyin, top off and rebuy with cash, but there are three regs in particular who more and more just want to settle with Venmo at the end. This is compounded by the fact that these three are among the looser players, often rebuying multiple times.

3) Problems arise because the cash-only guys don’t want Venmo, and also not everyone leaves at the same time.

4) So for example if several cash-only guys leave at (say) 1 am with big stacks while the Venmo guys are still playing… I essentially have to keep a lot of extra $$$ for the early cashouts, then get reimbursed when the Venmo crowd is done.

5) This means I’m accumulating a bunch of Venmo week over week. And have to transfer it to my bank to replenish my cash reserve.

It’s annoying, and also creates an online trail of large transactions from which I make zero profit but look like I’m moving tons of money around.

I’m thinking of just issuing a cash-only edict. I don’t think it will cause any regs to stop attending. But it may result in fewer rebuys.

I make my Venmo players send to other players for cash. Several of my guys bring plenty extra and can accommodate. But the Windy Crest bank is cash in - cash out. It will stay that way.

 

[allforcharity]

Once when I was dealing a home game I was offered payment in cocaine....

 

[PepperPaul]

I’ve been accepting cash and Venmo/cash app for awhile now, but as my game has been getting bigger/deeper, I’m starting to reconsider. I feel like I’ve been moving too much money through my account and I’m worried what would happen if I ever got audited.