OK tell me the difference between a regulated (registered) and unregulated online casino.
Both will take your money
Both will entice you into a bonus or an over hammered game.
Both can pay out but neither will give you your money back once you hit the point of no return.
Tell me there's a difference except one is licensed to take your money. What's the difference? The answer is there really isn't! They're the same side of the same coin and we're dumb enough to keep giving them our hard earned!.
As someone who has personally played on many sites that others would avoid because I know from evidence available to me, that they eventually pay out, I thought I would weigh in on this.
When you are gambling and hoping to win you are playing with probabilities and it's very much the same with site choice.
Are completely unregulated sites going to never pay out? No, but the probability is higher on average than a site with a modicum of regulation/licencing.
Can regulated sites end up not paying out? Ofcourse, but the probabilities for getting paid range from being slightly better to overwhelmingly better depending on the territory the site is licenced in/by.
As others have said, playing on unregulated sites is playing with fire. If there is lacking footprint online it can also be playing with the unknown. Zero footprint is usually an obvious sign of a full blown scam.
So in my eyes the difference on the grand scale is that your odds are worse with unregulated sites but not zero.
I still wouldn't personally touch the website you have used but I know from experience there are unregulated sites and sites with terrible licences (anjouan) that payout very reliably, it's just that the number of these kind of sites, say anjouan for example, is in the low double digit or single digit percentages so at the vast majority of sites like that, just like others and dunover are suggesting, are absolute scams with no chance of payouts.
Whilst you can choose to take the risk, the general gambler shouldn't and should go with sites that have the best probabilities of being paid and treated "fairly", just like they should play games that offer the best RTP percentages.