Cash Game How I Bank at a Home Game in an Increasingly Cashless Society (3 Viewers)

[legend672]

Money down buys the town. Cash only and no Stinkin $50 bills at my game

 

[louBdub]

Money down buys the town. Cash only and no Stinkin $50 bills at my game

I will deny $50 bills at this point

HATRED

 

[Jimulacrum]

Money down buys the town. Cash only and no Stinkin $50 bills at my game

I accept $50 bills but also get rid of them ASAP when people cash out.

Stupidest, most annoying note in the US currency system, with $10 in a close second.

No one needs 2x denoms.

 

[Taghkanic]

I accept $50 bills but also get rid of them ASAP when people cash out.

Stupidest, most annoying note in the US currency system, with $10 in a close second.

Someone please start a petition to simplify U.S. currency to nickels, quarters, $1, $5, $25, $100 and $500 bills.

 

[ArielVer18]

THIS, 100%

I just stumbled into this thread and have a great interest, as I'm planning to start hosting more regularly. My group is also a mix of older and younger guys, so I expect this may come up at some point. I have a strong preference for cash, and have insisted on cash buy-ins up to this point. But I'm open to cashless transactions, as I expect the demand to only increase, and I understand those who prefer not to carry cash.

Like the comment above, anyone in my game who doesn't have enough cash for a buy-in or rebuy could Venmo or PP me immediately, before getting chips. Then I would put my cash into the game's cash envelope. At the end of the night, we could settle that player's winnings with cash, or a Venmo back. Whichever we both agree on. I don't use Venmo very often, so my preference would usually be to send some or all of it back to them.

It's highly unlikely I would allow players to play on credit, therefore I don't see much need to keeping a ledger. That would make playing poker seem more like work!!! (I'm an accountant)

This is a really long thread so I'm sure I or someone else already addressed this, but your solution works perfectly fine when there's only one or two players who ran out of cash. If/when your players trend towards cashless and you do a dozen or more of these micro $50 transactions, you may realize it's easier to simply start a ledger and settle at the end of the game.

 

[Jimulacrum]

Someone please start a petition to simplify U.S. currency to nickels, quarters, $1, $5, $25, $100 and $500 bills.

Yup. That would be more efficient. Even a $1,000 bill as a color-up for $100s would be fine.

The only ones I'll miss are the $2 bill and the half dollar, but purely for novelty reasons. Functionally, they're useless.

 

[Mr Winberg]

What's with all this ledger and logging bs?

I don't see much need to keeping a ledger. That would make playing poker seem more like work!!! (I'm an accountant)

As someone who is forced to adapt to cashless since Swedes no longer carry cash, I can through a TON of experience absolutely guarantee that keeping a simple ledger (just a pen and paper will do, but better if you've created a template to print) is A LOT less work then having to deal with electronic transactions throughout the night.

If we're 8 players and 8 top-ups during the night, and nobody leaves empy handed, that's 7+7+7=21 transactions (buy-ins + top-ups + cashouts). I think my record is around 17 players. The same example would mean 51 transactions!! For each transaction I need to check that the money made it through.

Why would I want to put in that amount or work and disruptions during the night?
Hell no! When using a ledger, there are n-1 transactions for n players, so 7 in the first example and 16 in the second. It literally takes like 5 seconds to dot down someone's new total buy-in! Scratch the old amount, scribble the new, hand over chips, done! For me, not keeping a ledger would be too much work.

 

[TX_Golf_N_Poker]

As someone who is forced to adapt to cashless since Swedes no longer carry cash, I can through a TON of experience absolutely guarantee that keeping a simple ledger (just a pen and paper will do, but better if you've created a template to print) is A LOT less work then having to deal with electronic transactions throughout the night.

If we're 8 players and 8 top-ups during the night, and nobody leaves empy handed, that's 7+7+7=21 transactions (buy-ins + top-ups + cashouts). I think my record is around 17 players. The same example would mean 51 transactions!! For each transaction I need to check that the money made it through.

Why would I want to put in that amount or work and disruptions during the night?
Hell no! When using a ledger, there are n-1 transactions for n players, so 7 in the first example and 16 in the second. It literally takes like 5 seconds to dot down someone's new total buy-in! Scratch the old amount, scribble the new, hand over chips, done! For me, not keeping a ledger would be too much work.

Not sure why you tagged me. Your situation is completely different from mine where 90+% of my transactions will be cash, and only an occasional cashless transaction.

 

[BarrieJ3]

I’m still newish enough at this poker thing.

But I’m now 500% on team cashless and it’s not even close, y’all don’t make any sense at all.

I’m tired of being “that guy”, I want life for host to be easy. So instead of always walking in and shooting over my Venmo/PayPal, I’ve started bringing cash lately. And I make sure to bring good cash, with change in case they need it.

Here’s the thing: even though I trust my hosts and I know with 100% certainty everything is safe and wonderful, I’m still not completely comfortable being in a brand new location with brand new people I’ve never met and thousands on the table, backed by cash.

I get it, I get it. With 0 cash someone can still come in and force us to hand stuff over. I could die in a crash on the way home. Whatever could happen. As someone simply not used to having 2 or 5 or 10 or 20 grand in cash at the table, I’m just not super comfortable around it.

Additionally, I don’t love walking around with $2-5k. To a desperate person, that’s a lot of life changing cash.

Lastly, I’m out at least $550. Which that is a me problem and not the same as the above issues, but idk if that’s fallen out in the car or kids took it or I spent and don’t remember or what.

So yeah blech to cash. If I played more than once in a blue moon I’d simply prefer to give my host a chunk of cash or transfer at the start of the year and simply play off that.

 

[dkersey]

Someone please start a petition to simplify U.S. currency to nickels, quarters, $1, $5, $25, $100 and $500 bills.

Love this! I hope everyone noticed the penny was not listed, pennies are so worthless!

I would change one thing though, $25 --> $20.

Don't need things like $2, even for novelty purposes. The governments job is not to entertain.

 

[Mr Winberg]

Not sure why you tagged me. Your situation is completely different from mine where 90+% of my transactions will be cash, and only an occasional cashless transaction.

Sorry m8, I might have read your post too quickly. I thought you were dissing ledgers in general. If there's only occasional cashless transfers, then a ledger might be overkill.

 

[Taghkanic]

Yup. That would be more efficient. Even a $1,000 bill as a color-up for $100s would be fine.

The only ones I'll miss are the $2 bill and the half dollar, but purely for novelty reasons. Functionally, they're useless.

$2.50 bill with pink ink

 

[Tonystark137]

I always keep around some extra cash and will take electronic forms of payment to "buy" cash from me, but in my opinion you are running a non-zero risk creating a (electronic) paper trail and using electronic payments systems that most of which have gambling listed in the TOS as an improper use of the service. You have risk of funds being frozen, or if your game ever runs afoul of the authorities you also have a clear record of funds taken in.

Wouldn't ever allow players to play on credit either. It only takes one time for someone to get in over their head with a recent financial situation that you don't know about that brings the whole system of trust down.

This is pretty much what I do , let players buy cash from me , or other players if I run out of cash.

 

[Poker Zombie]

As someone who is forced to adapt to cashless since Swedes no longer carry cash, I can through a TON of experience absolutely guarantee that keeping a simple ledger (just a pen and paper will do, but better if you've created a template to print) is A LOT less work then having to deal with electronic transactions throughout the night.

If we're 8 players and 8 top-ups during the night, and nobody leaves empy handed, that's 7+7+7=21 transactions (buy-ins + top-ups + cashouts). I think my record is around 17 players. The same example would mean 51 transactions!! For each transaction I need to check that the money made it through.

Why would I want to put in that amount or work and disruptions during the night?
Hell no! When using a ledger, there are n-1 transactions for n players, so 7 in the first example and 16 in the second. It literally takes like 5 seconds to dot down someone's new total buy-in! Scratch the old amount, scribble the new, hand over chips, done! For me, not keeping a ledger would be too much work.

I've seen this in action at the Stockholm meet-up. I couldn't even venture a guess at how many rebuys took place, but when circus games are being played there are going to be a lot. 1 ledger, run by 1 banker, and 1 transaction per person at the end of the night.

 

[Taghkanic]

I like to have a certain amount of cash available in case of an emergency.

Never know when the zombies might show up and I have to buy a black-market Uzi, right?

So my poker bankroll, and the cash I keep on hand to host, doubles as that.

Once in a while I will reluctantly take Venmo as payment, but it really complicates things. If the person buying in with Venmo goes bust, then I have to find somebody else who bought in with cash who is willing to cash out electronically. Or else use my own cash to pay them out and keep the Venmo for myself. (I don’t really use Venmo for at-to-day expenses.)

I try instead to ask the players if someone has enough cash on hand, who also likes Venmo, so Millennial Guy can do the exchange with them instead of me.

Venmo etc. also creates an unnecessary paper trail which is technically fine for me, but just creates a hypothetical problem I’d rather not invite.

 

[WedgeRock]

Write down everyone's buy-in and rebuys on a ledger.

No records Artie. What are you gonna do with records, pay taxes?

 

[Poker Zombie]

Never know when the zombies might show up and I have to buy a black-market Uzi, right?

We'll bring our own uzis. No need to buy from an unreputable dealer.

 

[TX_Golf_N_Poker]

Sorry m8, I might have read your post too quickly. I thought you were dissing ledgers in general. If there's only occasional cashless transfers, then a ledger might be overkill.

No worries. Like I said I'm an accountant, so I understand the need for a ledger if your game is mostly cashless. I just still have a strong preference for my game remaining cash only as well as other games that I play in.

 

[bergs]

This common core new math thing has gone too far.

 

[PokerJoe747]

We use cash. The host will normally have some $ so folks can Venmo him and then the cash goes in the pot.

 

[thetikiking]

This thread is pretty wild to me. Our small stakes game has never used cash. Players Venmo the banker for buy-ins, it gets recorded on a ledger, and chips are not exchanged till the funds appear in the bank's account. Similarly, as players depart, they exchange their chips for an immediate venmo from the bank.

Cashless is an advantage, in my view. We can play in our local dive bar if so inclined, as no money changes hands to an outside observer. There's also nothing to steal.

 

[andrebttx]

This thread is pretty wild to me. Our small stakes game has never used cash. Players Venmo the banker for buy-ins, it gets recorded on a ledger, and chips are not exchanged till the funds appear in the bank's account. Similarly, as players depart, they exchange their chips for an immediate venmo from the bank.

Cashless is an advantage, in my view. We can play in our local dive bar if so inclined, as no money changes hands to an outside observer. There's also nothing to steal.

As a Venmo banker myself, I have switched to only settling up at the end, to cut in half (or more) the number of transactions. Would not want my account flagged or frozen, even though it’s a completely legal activity. For similar reasons, we also make sure there’s nothing remotely poker related in the comment line.

This method also works totally fine since we only play with trusted friends, and even if something went disastrously wrong, only for stakes that aren’t life altering to get stiffed on. Method certainly would not work with unknown players on untrusted environment.

 

[thetikiking]

As a Venmo banker myself, I have switched to only settling up at the end, to cut in half (or more) the number of transactions. Would not want my account flagged or frozen, even though it’s a completely legal activity. For similar reasons, we also make sure there’s nothing remotely poker related in the comment line.

This method also works totally fine since we only play with trusted friends, and even if something went disastrously wrong, only for stakes that aren’t life altering to get stiffed on. Method certainly would not work with unknown players on untrusted environment.

Very fair caveat. I play with close friends almost exclusively. I would not advocate running a random group this way.

 

[Mr Winberg]

make sure there’s nothing remotely poker related in the comment line.

About that, I ask the same from my players. Here are a few examples of venmo comments I've received.

"Paying you, because your mother doesn't have venmo. Please forward to her."

"0.5 grams of heroin."

"Buy-in for an illegal underground poker game"

Yep, I have great friends...

 

[OfficerLovejoy]

About that, I ask the same from my players. Here are a few examples of venmo comments I've received.

"Paying you, because your mother doesn't have venmo. Please forward to her."

"0.5 grams of heroin."

"Buy-in for an illegal underground poker game"

Yep, I have great friends...

I shouldn't laugh but that mom joke was pretty good.

 

[drdr]

I’ll say this as well… Though I’m hardly a prepper, I do believe in having a certain (healthy) amount of cash stashed safely where I can find it in an emergency. This is essentially also my poker bankroll. If I spend any cash, I replenish it from poker winnings. This has worked well enough for me that I can’t remember my bank card PIN, it’s been that long since I hit an ATM…

Makes mental note never to get into a deep stack hand with you.

 

[Preditor]

Has anyone actually heard of someone's Venmo account being frozen for a (legal and lawful) home poker game?

Also, what about Zelle? According to their TOS, it is only prohibited to use them for ILLEGAL gambling. As a Californian where social gambling is legal, I would imagine that wouldn't be an issue.

 

[TheOffalo]

Has anyone actually heard of someone's Venmo account being frozen for a (legal and lawful) home poker game?

Also, what about Zelle? According to their TOS, it is only prohibited to use them for ILLEGAL gambling. As a Californian where social gambling is legal, I would imagine that wouldn't be an issue.

I had a friend whose Venmo was frozen for 48ish hours because he made a North Korean dictator joke in the comments. (A fellow friend is Korean, so my one friend who got busted by him put in the Venmo comment for his rebuy “Kim Jong <friend’s last name>” (like “Kim Jong Park” for example).

This was early days in the pandemic when we were playing remotely and Venmo had an influx of users and activity. I think it probably tripped some automated flagging. Took a few days talking with support for him to get his account reactivated.

I was wondering recently about whether a comment that mentioned poker, or a lotto pool, both of which are legal, would be okay nowadays. Reason I was thinking that was because of the Draft Kings ads inside the Venmo app. Still I prefer not to risk it and ask people not to put anything poker or gambling related.

 

[Preditor]

I had a friend whose Venmo was frozen for 48ish hours because he made a North Korean dictator joke in the comments. (A fellow friend is Korean, so my one friend who got busted by him put in the Venmo comment for his rebuy “Kim Jong <friend’s last name>” (like “Kim Jong Park” for example).

This was early days in the pandemic when we were playing remotely and Venmo had an influx of users and activity. I think it probably tripped some automated flagging. Took a few days talking with support for him to get his account reactivated.

I was wondering recently about whether a comment that mentioned poker, or a lotto pool, both of which are legal, would be okay nowadays. Reason I was thinking that was because of the Draft Kings ads inside the Venmo app. Still I prefer not to risk it and ask people not to put anything poker or gambling related.

So we've been using Venmo for our monthly NLHE tourney. $45 buy-in. Person I co-host with manages the cash, and she does it through Venmo.

Pretty sure plenty of people have put "Poker" in the comments, and she hasn't been banned. But I think she is unaware of this. I will recommend that she use Zelle from now on since their policies are specifically against "illegal gambling".

We're all sub-35 in age, and we're just not cash people.

 

[SavageLizard]

Just a Zelle heads up: it's all good so long as you know the other party (which most people in this situation would) but NEVER send money to anyone you don't know, like say buying something. Zelle is the favorite app for scammers because once you send the money you are fucked, no protections whatsoever. Their answer is "too bad, so sad." Sadly, I know this because I got scammed trying to buy some baseball tickets and Zelle doesn't care at all.