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Category: Money

Real Money vs. Play Money

Playing With Play Money

A “free-roll” tournament is one that doesn’t require real money although it pays out real prize money to the winner. Particularly for those who don’t have much tournament-playing experience, free-roll tournaments are really a lot of fun and very low-risk. There’s no risk of losing any money.

You should certainly use play money if you’re a new player or if you’re looking to brush up on your poker skills. There is no need to make any kind of purchase or provide credit card information for play money poker.

The most common types of freerolls are “frequent player points”, called FPPs. This is the best kind of free because all you need to do to acquire these FPPs is to sign up and play. You can then amass points; earning points as part of the loyalty program. Many sites allow you to earn FPPs by playing in the play money games. Many less experienced players should get started without going to the trouble of depositing real money.

Playing With Real Money

A real money buy-in, as the name suggests, requires you to use real money. Online poker sites require you to deposit real funds into a secure account. In casinos, you generally have to buy chips. If you do a bit of money-management, you can plan ahead enough to make online money transfers in a few seconds without transaction fees.

Once you are confident of your poker skills you can decide to take the plunge. Making a deposit of cash to play online involves using one or more of the following money transfer methods:

1) Credit Card

2) FirePay

3) Neteller

4) Switch/Maestro

5) Bank Draft

6) InstaCash

7) Visa/MasterCard

8) ePassporte

9) Wire Transfer

Things to Consider: Real versus Play

It’s increasingly important to consider the legal aspects of online poker playing and online gambling. You need to try and get a handle on the laws that affect online poker play. Unfortunately the laws in most of the countries around the world really are very slow to mature; they’re slow to pickup and change their policies and programs. This is equally true of individual companies. Several online poker sites now do not allow US-based players access due to changes in the law that look to outlaw online gambling, apparently including poker.

Although the best advice is to consult with a legal expert if you have specific concerns, it is still challenging for lawyers and other experts to make definitive assessments of what is a lawful activity and what is not. At the time of writing this article, no person in any country has yet been charged as a criminal for playing online poker with real money.

Another thing to consider: negative tilts in poker can be extremely destructive and bankroll management is something you really need to be on top of if you’re playing with real money. Everyone goes on a negative tilt every now and again. It’s a reality even the best and most experienced players have to deal with; if you make a transition from play money to real money, you must have enough of a bankroll to cover the down tilts and protect your game from your own psychology. Although this is more important when it comes to real money management and it should factor somewhere in your decision-making process about real money versus play money. You should also take into account the kind of game you’re involved in and the kind of players you’re up against. Just as you should shift tables every now and again, there’s nothing stopping you playing with both real and fake money.

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Make Real Money Online – The Real Rules of the Game

When I first got involve with trying to make real money online, I was actually in the process of recovering from some real estate investments gone bad. We all know what the real estate market has done in this economy and I was obviously not immune to its effects. I was frustrated, in massive debt, and desperately searching for a way to recover my income stream. I will tell you, the situation I was in made it that much more challenging for me to make real money online, but I was determined to do it anyway. Learn from my mistakes and you can make real money online a lot faster.

You see, making real money online is not much different than making real money in any other type of business. It takes proper planning, networking, laying a good foundation, dedication, perseverance, leverage, money, time and a lot of action. If you miss a step because you need to make real money fast, like I did, you stand a good chance of losing more money than you make.

I want you to keep something in mind. To make real money online, you will be required to do some form of marketing. The internet is really just an electronic buffet offering a wide variety of products, information, opportunities and services. Everyone is marketing something in some way or another. Some people offer stuff for free, others charge. To make real money online, you will need to some of both, and the balance of free and not free is important. In any case, you will have to learn the art of transferring your thoughts, ideas and opinions to the minds of others. You will also have to learn how to identify problems and offer solutions. Don’t let the marketing part scare you, we all have marketing skills in us. It just takes a little coaching and practice.

Over the next few articles, I am going to cover some key points that will help you make real money online. I would love to do this in one sitting but that may be an injustice to you and certainly to me. Please, take time to digest what I am saying in each article. If you have questions along the way, catch up with me on my blog and I will do my best to help you.

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How to Use Virtual Money to Earn Real Money!

I wanted financial freedom, and I was determined to acquire it. I decided I was going to do it trading stocks or currencies. The problem was that after one year in the hospital, and a lot of medical expenses, I didn’t have the initial capital needed for my venture.

I made some research and found out that many brokers let people open free demo accounts to help them learn how to trade, and also to help them gain a general sense of how the markets behave. I also found that these financial institutions organized regular contests for the people who traded on those demo accounts.

The prizes for winning one of those competitions ranged from real money accounts, to cash prizes, tablets and smart phones. So, the only thing I needed to do was to win one of them, and obtain the funds I needed to start trading for real.

I know what you are thinking, easily said than done! Well, it’s easier than most people believe.

You see, most people treat their demo accounts as real accounts. After all they are trying to learn how to make money in real life. On the other hand, I saw these accounts as a game, a contest I needed to win.

On a real account you have to think long-term, you diversify and you minimize risks. On a demo account you need to make as much money as possible, on the shortest amount of time. So, you concentrate your resources, and take the risks you are not supposed to take with real money.

The game plan…

There is a concept in the stock, and currency market, called a gap. It’s a pattern that is formed when the open price is higher, or lower, than the close price of the previous session. As a general rule, these gaps tend to be filled. In other words, the price moves back to the original pre-gap level.

If, for example, you are trading a demo Forex account the only thing you need to do is wait for the markets to open on Sunday, and watch for a gap in the opening price of one of the major pairs. As soon as you find an opportunity you open all the lots that you can in the opposite direction of the gap.

Depending on the size of the gap, and the spread of the pair you are trading, you will be able to make a profit of 50%, 100% or higher. Repeat this strategy as long as the contest lasts and you will be one of those guys in the prize list.

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