Cryptocasino Help

[Guntis]

It’s been regularly recommended that you send your casino deposits from an intermediary/local wallet rather than an exchange to avoid such issues. I used to use Exodus wallet on my phone but moved to a hardware wallet as my crypto holdings grew. Maybe give Exodus a try?

I have Exodus but never used it, and also Kraken Pro But to be honest, i more prefer the offline game in real casinos. There, even if i lose, at least i meet some people, see something interesting, and then come home smashed, lol.

For online, i can use Revolut, but i'm not too bothered anymore. If i look back, i lost more money online.

 

[justdoit]

Skrill they dont care if you send to casino

 

[justdoit]

my last fee on fiat lol cash out to bank is not working on BC i need to do cashout on Skrill got charger €76 for 1k, fk BC they making lot of money 10% fee
plus 1.99% from skrill to bank

 

[Guntis]

my last fee on fiat lol cash out to bank is not working on BC i need to do cashout on Skrill got charger €76 for 1k, fk BC they making lot of money 10% fee
plus 1.99% from skrill to bank
View attachment 199283

Here was my happiness, but only for about 3 minutes till i found that it is all in their bullshit coin.

Wankers worded it like it's real cash, instead of saying - Congrats! You get €2,255.81 in BCD. Check your wallet.

 

[satchnz]

Here was my happiness, but only for about 3 minutes till i found that it is all in their bullshit coin.

Wankers worded it like it's real cash, instead of saying - Congrats! You get €2,255.81 in BCD. Check your wallet.


View attachment 199288

Did it go into your locked balance or the balance you can use (and convert to other coins)?

 

[Guntis]

Did it go into your locked balance or the balance you can use (and convert to other coins)?

Yes all is sitting locked here:

I need to wager about 30 million EUR to unlock it all. Maybe someday I'll go to those high roller streams like Trainwreck and ask one of them if they want to use my account for a couple of days, and then we simply share the cash 50/50. ...

 

[satchnz]

Yes all is sitting locked here:



I need to wager about 30 million EUR to unlock it all. Maybe someday I'll go to those high roller streams like Trainwreck and ask one of them if they want to use my account for a couple of days, and then we simply share the cash 50/50. ...

Yeah that’s a bit shit…

 

[justdoit]

Here was my happiness, but only for about 3 minutes till i found that it is all in their bullshit coin.

Wankers worded it like it's real cash, instead of saying - Congrats! You get €2,255.81 in BCD. Check your wallet.


View attachment 199288

this is all bs m8 I have like 80k on it maybe i will past to my son here is my saving lol, I thing 500 casino has better rwards,

 

[Guntis]

Any experience with

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? One i know just recommended it to me. They offer debit/credit cards and even crypto loans.

 

[Guntis]

Update: It doesn't work for UK customers.

 

[justdoit]

Fiat deposit to BC no fees, from Revolut bank, I made deposit of £295.63 the value of €350, got €350 on Bc, i thing this is the cheapest way to make deposit, you can swap your fiat balance to Crypto but you need to be level 56, you can also withdraw to Skrill fiat balance it takes 2mins, fees are like 10%, from october you can withdraw direct to your bank card, not sure if is true but some streamers they saying is going to be fast withdraw to bank card,
P.S. before you make fiat deposit you need to verify your bank card is super easy just pic of the card you get verify in 5mins and need to be same name as account holder, they aslo ask for the address I did my UK address

 

[slot_zombie]

Wait, a UK player can deposit to this unlicensed casino using fiat? And get withdraws in fiat? And they will accept UK details and a UK address while using a VPN?

Confuzzled.

 

[satchnz]

Wait, a UK player can deposit to this unlicensed casino using fiat? And get withdraws in fiat? And they will accept UK details and a UK address while using a VPN?

Confuzzled.

Yeah I’ve read a few accounts of people supplying their UK ID and address proof to BC and it being accepted.

 

[Guntis]

Fiat deposit to BC no fees, from Revolut bank, I made deposit of £295.63 the value of €350, got €350 on Bc, i thing this is the cheapest way to make deposit, you can swap your fiat balance to Crypto but you need to be level 56, you can also withdraw to Skrill fiat balance it takes 2mins, fees are like 10%, from october you can withdraw direct to your bank card, not sure if is true but some streamers they saying is going to be fast withdraw to bank card,
P.S. before you make fiat deposit you need to verify your bank card is super easy just pic of the card you get verify in 5mins and need to be same name as account holder, they aslo ask for the address I did my UK address
View attachment 200253
View attachment 200254

What type of doc you gave them for your UK address verification, a UK bank statement ?

 

[Guntis]

If these non-ukgc licensed casinos start accepting fiat payments like via Skrill, run fair rtp slots, pay out the same day, and give good bonuses. Most UK legit casinos will get fecked.

 

[justdoit]

What type of doc you gave them for your UK address verification, a UK bank statement ?

my verifcation on account EU id with EU bill, when you register your card BC they ask for card pic only, no bank statment, when you make deposit 3rd party payment they ask for card address, I thing anyone with verifed account can register card payment

 

[justdoit]

If these non-ukgc licensed casinos start accepting fiat payments like via Skrill, run fair rtp slots, pay out the same day, and give good bonuses. Most UK legit casinos will get fecked.

you cant do skrill deposit Skrill massage will pop up tell you is not UK casino blabla, but they accept withdraw direct to skrill from BC or Winz

 

[slot_zombie]

All sounds rather convuluted to me. I've retired from playing slots for now, but if I ever had a dabble in the future I'd stick to crypto in and out...

 

[Guntis]

my verifcation on account EU id with EU bill, when you register your card BC they ask for card pic only, no bank statment, when you make deposit 3rd party payment they ask for card address, I thing anyone with verifed account can register card payment
View attachment 200256
View attachment 200257

For you, it's a different story because of your EU papers. What I don't understand is how BC.Game accepts GBP payments.

Is it a straight casino account top-up from a UK bank account (GBP to GBP), or does it work like an online purchase where something like Stripe pops up, opens your bank page, and asks you to log in...

Or is it an open banking service like Trustly, where you select your bank from a list and enter the details...

Still it's all weird stuff anyway, and someday interpol might catch that nasty crocodile, lol.

 

[Guntis]

you cant do skrill deposit Skrill massage will pop up tell you is not UK casino blabla, but they accept withdraw direct to skrill from BC or Winz
View attachment 200258

By the way, if you don't really use Srill for any UK stuff, switch it to EUR. This way, you can get your casino money straight from EUR to EUR. Otherwise, those Skrill FX fees build up. Just go to their live chat and they'll sort it. You'll need to close your GBP acct and open a EUR one, it takes minutes.

 

[justdoit]

By the way, if you don't really use Srill for any UK stuff, switch it to EUR. This way, you can get your casino money straight from EUR to EUR. Otherwise, those Skrill FX fees build up. Just go to their live chat and they'll sort it. You'll need to close your GBP acct and open a EUR one, it takes minutes.

you cant use Euro with UK address, you can only use USD

 

[justdoit]

For you, it's a different story because of your EU papers. What I don't understand is how BC.Game accepts GBP payments.

Is it a straight casino account top-up from a UK bank account (GBP to GBP), or does it work like an online purchase where something like Stripe pops up, opens your bank page, and asks you to log in...

Or is it an open banking service like Trustly, where you select your bank from a list and enter the details...

Still it's all weird stuff anyway, and someday interpol might catch that nasty crocodile, lol.

with Revolut you can do any payment Euro USD, when you make payment you need to go to your revolut app and accept payment, BC will charger you on Euro not GBP, is like you buying somthing online from EU

 

[Guntis]

you cant use Euro with UK address, you can only use USD

Maybe we're talking about something different.

But i have a Skrill account in EUR opened using a UK address.

So my Skrill account's default currency is EUR, not GBP.

If you send me 10 EUR to Skrill, then I'll receive it in EUR and it will show my balance in EUR, not GBP.

... and that's what i meant - if you don't use your Skill account for buying/receiving anything in GBP, then it's best to keep it in EUR.

 

[justdoit]

Gamdon casino now you can make deposit 0% fee, you can only cashout on Crypto

 

[Guntis]

Some new rules from HRMC about crypto:

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.

-

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.

 

[SYPlayer95]

Some new rules from HRMC about crypto:

-

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.

-

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.

This would be irrelevant for UK, given the origin of the funds relate to gambling. No capital gains arise from it.

 

[Guntis]

Also good to know:

 

[interlog]

Also good to know:

Even if you have made on the crypto circuit because of casino winnings? If that is the case, you can surely offset the losses you also make?

 

[mulven]

When I made about £400k from crypto (not casino related) in 2021 I paid a fooooook ton of tax. I didn't do it properly though i just paid what I took out into FIAT (supporting evidence was just my coinbase transaction history). The alternative would be showing my profit and then all my losses and then filling out a ton of negligible value claims.

I just hope they are happy with their money as its the same amount they would have gotten just with less work on my part. Don't come after me i'm a good boy, i know many others who just risked it and didn't pay anything.

 

[Guntis]

Even if you have made on the crypto circuit because of casino winnings? If that is the case, you can surely offset the losses you also make?

From what i understand, the tax applies when you sell crypto for money and gain profit from it. Say if you won £10,000 worth of Bitcoin at a casino, then sold it and got £15,000, you would need to pay tax on that £5,000.

The same applies if you exchanged coins say BTC for XRP and gained some profit.

But there is a £3,000 (was £6,000) Capital Gains Tax free allowance, which means if you gained a profit of say £2,000 during the year from those crypto sales, none of it would be taxed.

In general, i think, it's not a problem for most. Just worth knowing how it works.

Here is that letter which she showed in the video:

icaew.com/-/media/corporate/files/insights/tax-news/20240724---letter.ashx

 

[Reelsoffun]

I understood it another way if you bought £1000 in crypto then put it into a casino won £10000 then crypto went up so you cashed out say 14000 the taxable part is actually 10000 ?

14000 - 1000 - 3000 allowance pay tax on the 10000 ? Plus maybe tax to pay on the 1000 due to goods and services?

I get that gambling in the UK is tax free but not sure they count any casino winnings paid in crypto as tax free winnings as no UK licenced casinos accept crypto ?

Confused

 

[Reelsoffun]

Also I had one of those letters from HMRC few months ago saying I owed tax, I just ignored it TBH, as assumed it was some sort of new scam.

 

[Guntis]

I understood it another way if you bought £1000 in crypto then put it into a casino won £10000 then crypto went up so you cashed out say 14000 the taxable part is actually 10000 ?

14000 - 1000 - 3000 allowance pay tax on the 10000 ? Plus maybe tax to pay on the 1000 due to goods and services?

I get that gambling in the UK is tax free but not sure they count any casino winnings paid in crypto as tax free winnings as no UK licenced casinos accept crypto ?

Confused

Essentially, this tax is all about capital gain - if you don't gain any profit from selling or trading your crypto, there is no tax.

As for your example, I think the taxable part would be £4,000, and HMRC only counts profits from the crypto's price changes.

Because people normally buy crypto with money and then trade/exchange with a goal to profit when the price goes up.

I don't think they can tax crypto casino winnings.

Say you deposited £100 into a crypto casino and won £10,000 in BTC.

Next, you decided to send it all to Kraken, Coinbase, or whatever.

These exchanges report these big sums to HMRC, as that woman from the video said. But so what?

You won it from your £100 in crypto by playing gambling games. It shouldn't count as trade, sale, or investment.

The tax would only apply if, after the sale, you got more than £10,000 - for example, if you sold it and got £10,500 due to the price increase.

 

[Ant1975]

I understood it another way if you bought £1000 in crypto then put it into a casino won £10000 then crypto went up so you cashed out say 14000 the taxable part is actually 10000 ?

14000 - 1000 - 3000 allowance pay tax on the 10000 ? Plus maybe tax to pay on the 1000 due to goods and services?

I get that gambling in the UK is tax free but not sure they count any casino winnings paid in crypto as tax free winnings as no UK licenced casinos accept crypto ?

Confused

I also thought that crypto casino winnings would be taxed the same, but it seems that's not the case.

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[mulven]

I also thought that crypto casino winnings would be taxed the same, but it seems that's not the case.

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Yep it wouldn't matter where and what you use to gamble, it'll be tax free .

Back when I was super into poker, I always rooted for all the 0% gambling tax players as they'd get to keep it all whereas the americans get shafted.

Thanks to tax treaties between the countries all ya gotta do is fill out an exemption form and you are all gud. If you won at an IRL casino in a random country that doesn't have a treaty with the UK but does have a tax on gambling you might have to pay though.

 

[justdoit]

I trade before and gamble on crypto, any profit on over £5k ( in year) on trading you need to pay tax, any gambling win is free tax, but you need to cashout from your wallet right away...if you keep on wallet and profit from your winning you need to pay tax.. I am talking about profit over 5k not £100...make sure you keep proof of all your big wins... you never know brown envelope could land on your door
best way to check HMRC forum not some YT videos

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[Guntis]

I trade before and gamble on crypto, any profit on over £5k ( in year) on trading you need to pay tax, any gambling win is free tax, but you need to cashout from your wallet right away...if you keep on wallet and profit from your winning you need to pay tax.. I am talking about profit over 5k not £100...make sure you keep proof of all your big wins... you never know brown envelope could land on your door
best way to check HMRC forum not some YT videos

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Yeah, you pay tax on capital gains; profits as you say.

But i think, tax would start from anything over £3,000 as there is a £3,000 tax free CGT (capital gains tax) allowance.

A couple of years back it was £12,300, then £6,000, and now £3,000.

 

[slaman29]

Talking about crypto capital gains, in Singapore you can choose to pay the smaller capital gains tax every time you sell it to make profit, or treat it like a share. Sell it all at once, and pay a one time big fee. Most people choose this option, so never sell or sell 100%.

 

[Reefer]

From what i understand, the tax applies when you sell crypto for money and gain profit from it. Say if you won £10,000 worth of Bitcoin at a casino, then sold it and got £15,000, you would need to pay tax on that £5,000.

The same applies if you exchanged coins say BTC for XRP and gained some profit.

But there is a £3,000 (was £6,000) Capital Gains Tax free allowance, which means if you gained a profit of say £2,000 during the year from those crypto sales, none of it would be taxed.

In general, i think, it's not a problem for most. Just worth knowing how it works.

Here is that letter which she showed in the video:

icaew.com/-/media/corporate/files/insights/tax-news/20240724---letter.ashx

In America they even tax you for your sales on Steam market after you make 200 sales or 20k maybe changed now
I got the email years ago but since im uk it does not apply, maybe changed now

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[Reefer]

Talking about crypto capital gains, in Singapore you can choose to pay the smaller capital gains tax every time you sell it to make profit, or treat it like a share. Sell it all at once, and pay a one time big fee. Most people choose this option, so never sell or sell 100%.

Chinese are some of the biggest investors in csgo skins, when china allowed steam to unblocked in china skin prices went ^^

 

[justdoit]

Yeah, you pay tax on capital gains; profits as you say.

But i think, tax would start from anything over £3,000 as there is a £3,000 tax free CGT (capital gains tax) allowance.

A couple of years back it was £12,300, then £6,000, and now £3,000.

View attachment 205402

most of Crypto traders work online, they all register on Channel Islands they pay 0 tax, if you buy crypto for long investment, they dont pay tax also till they cashout there profit, HMRC not that active on crypto tax to much problem for them, if you invest £10k and lost, that mean you are off £10k next tax payment, crypto casino affiliation they also pay 0 tax, coz they get paid on their casino account is like winning payment

 

[justdoit]

For you, it's a different story because of your EU papers. What I don't understand is how BC.Game accepts GBP payments.

Is it a straight casino account top-up from a UK bank account (GBP to GBP), or does it work like an online purchase where something like Stripe pops up, opens your bank page, and asks you to log in...

Or is it an open banking service like Trustly, where you select your bank from a list and enter the details...

Still it's all weird stuff anyway, and someday interpol might catch that nasty crocodile, lol.

you can open EU account very easy m8, a trip to Slovenia you open your account same day, Revolut. is not GBP licence bank, you can pay and currency online, is like buying somthing online

 

[Guntis]

you can open EU account very easy m8, a trip to Slovenia you open your account same day, Revolut. is not GBP licence bank, you can pay and currency online, is like buying somthing online
View attachment 205408

You can also open a bank account in Ireland very easily, or in any EU country, if needed. Check this out:

Right to a basic bank account

You may want or need to open a bank account in your home country or in another EU country.

If you are legally resident in an EU country you are entitled to open a "basic payment account". Banks cannot refuse your application for a basic payment account just because you don't live in the country where the bank is established.

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---

Revolut is an online bank (or neobank), and its rules likely apply based on the address and phone number you used when registering. The regulations cannot be identical across countries like the UK, Estonia, Finland, France, Germany, etc. Many things may be common, but each has its own body that regulates finances and likely has different rules.

So are you suggesting that i open a bank account somewhere and then play on BC Game?

 

[justdoit]

You can also open a bank account in Ireland very easily, or in any EU country, if needed. Check this out:

Right to a basic bank account

You may want or need to open a bank account in your home country or in another EU country.

If you are legally resident in an EU country you are entitled to open a "basic payment account". Banks cannot refuse your application for a basic payment account just because you don't live in the country where the bank is established.

You do not have permission to view link Log in or register now.

---

Revolut is an online bank (or neobank), and its rules likely apply based on the address and phone number you used when registering. The regulations cannot be identical across countries like the UK, Estonia, Finland, France, Germany, etc. Many things may be common, but each has its own body that regulates finances and likely has different rules.

So are you suggesting that i open a bank account somewhere and then play on BC Game?

not to play on BC, but many traders they dont use UK banks, they use EU banks so HMRC have no acces on it,
P.S
regards to BC best way to make deposit is from Skrill, they ask you before you make deposit is this gambling deposit, so you free from any Tax, Fees not so great but they know you gambling and the win is coming from same deposit link, so they know is from gambling

 

[Guntis]

not to play on BC, but many traders they dont use UK banks, they use EU banks so HMRC have no acces on it,
P.S
regards to BC best way to make deposit is from Skrill, they ask you before you make deposit is this gambling deposit, so you free from any Tax, Fees not so great but they know you gambling and the win is coming from same deposit link, so they know is from gambling

are you talking about fiat or crypto payments?

 

[justdoit]

are you talking about fiat or crypto payments?

well I use Crypto deposit and cashout fiat on Skrill, or Revolut, some casinos like Gamdom let you do that, all I need to win lol, if I make deposit £400-£500 and end of my play balance is £1000 I keep £500 on volut and £500 on balnace till i make good balance and cashout, like £2000 etc
soon they will controll everthing we do