Chip Dumping - One of the Capital Sins of the Online Poker World
Chip dumping is something no online poker room tolerates in any shape or form. It is in fact one of the capital sins of online poker indeed: there are few other things players can do to get their accounts locked and their funds seized faster.
What exactly is chip dumping though? Player A decides that he has some dirty money he wants to launder and he makes a deposit at an online poker room. He invites his accomplice, player B, and the two set up a nifty little scheme, at the end of which they hope player B will be able to withdraw clean money from the site in the shape of his poker winnings.
The way they do it, they set up a private heads-up table, and player A loses all his money to player B in as legit a way as they can make it appear.
Unfortunately for these guys, poker rooms have ways of spotting such behavior and they have zero tolerance towards the practice. It is indeed not rocket science to spot the telltale pattern of chip dumping.
Why exactly are poker rooms so against this practice? Two words: money laundering. Money laundering is indeed one of the most serious crimes one can do these days online since it is involved in the funding of terrorism and organized crime. Those who attempt chip dumping at an online poker site can therefore expect a knock on the door from the feds too on top of the blocking of their poker accounts and the sizing of their funds.
Chip dumping does not help online poker rooms in any way. It is the sort of traffic that only brings problems for them and no benefits. Chip dumpers will obviously aim to pay as little rake as possible while performing the deed, so the profits that they’ll end up generating for the poker room through their real money activity will be insignificant.
On top of that, upon withdrawal, the poker room will have to support certain taxes and fees which will eat up the meager rake chip dumpers generate.
The bottom line is that poker rooms always aim to keep their games fair, and to play host only to legit activities. Chip dumping obviously does not fit either of those profiles.
The bottom line in regards to chip dumping: do not attempt it under any circumstances. You will ring all sorts of alarm bells, and you will be in trouble, even if you aren’t guilty of any of the above discussed offenses. Chip dumping is not a joke, and the online poker industry does indeed treat it extremely seriously.
If you’re looking to get some of your rake back, sign up to best poker rakeback and view list of rakeback deals there.