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1) Most importantly, is it still possible to play online in US? How does the deposit and cashout work?

2) I assume pokerstars is the place to go? How's the game compared to 2005 party.

3) Being a US player, is there still lots of bonus to chase?

Any input will be much appreciated!

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1) You can still play in the U.S. Some sites closed their doors, but many are still open to U.S. players (Full Tilt,Pokerstars, Absolute, Ultimate Bet, Bodog, etc.) Deposits are more difficult now. There are still some e-wallet services that you can use, such as ePassporte, but you can use NetTeller. They also accept credit cards; however, some credit cards won't allow you to use the card for poker. It's kind of hit or miss as to which cards are accepted at which sites. If you deposit by credit card, the only option for withdrawing is check by mail.

2) Not sure exactly what you mean by "place to go". Pokerstars and Full Tilt have the most action and most games, but it's really a matter of preference.

3) Yes, most sites offer first deposit bonuses, and you can also get rakeback. See the rakeback forum here.