Is it possible to play magic the gathering online

Yes, in fact there is Magic Online, made for that purpose.
You can also use 'Virtual Table' software, which provides the table and and cards, but not the rules like Magic Online does.

You can download the MTGO software from Wizards here http://www.wizards.com/Magic/Digital/MagicOnline.aspx?x=mtg/digital/magiconline/whatshappening as well as get a quick tutorial on how to play. They start you off with a small collection of core set cards to enable you to play a game or to and get used to it. If you end up liking the program, I'd be happy to help you learn it as well as any cards you might like to have in addition to the starter set. Visit me here http://www.freewebstore.org/the-elf-lair

Draggan