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[JJ JJW-7393 WANTED $4 Outlaw]

You do get some leeway with it, capital gains tax threshold on crypto is £6000 profit this year, so if bandit bought £5000 and it increased to £5200 overnight he would still have £5800 profit left before tax is owed. I don’t want to sound like a know it all it’s just a heads up because it can get mega confusing if all your after is a quick crypto slot bash.

[JJ JJW-7393 WANTED $4 Outlaw]

Yeah there’s a threshold you have to hit first but the post was already boringly long so left out the figures

[JJ JJW-7393 WANTED $4 Outlaw]

I’m generally just a lurker but I made an account specifically for this, it might be a long read so bear with…

BC.game generally don’t care if you use a VPN, they have to state it in their T & C’s that it’s prohibited to used one for their own legal reasons, but they mostly turn a blind eye. Why?, because it increases their potential audience of gamblers massively and all it takes to register is an email address, a crypto wallet, and a name, that’s it.

I have never been asked for KYC but just because others haven’t doesn’t mean you won’t, It’s just a risk you have to take if you want to go down the crypto gambling route, they can and will withhold your winnings if you cant provide KYC, sucks, but is what it is.

Another thing is Gambling is tax free in the UK, but you aren’t gambling in the UK now (technically). Crypto is taxable, when buying, and selling the same coins for profit atleast. Gambling is still a grey area because you are selling more coins than you bought, not selling the same amount for profit which doesn’t come under captial gains tax. BUT if you used a KYC exchange e.g Kucoin, Crypto.com or anyone that asks you for ID and verification documents when your registered, they report all their users to HMRC (last I knew it was anyone who had over £5000 in their account, might have changed by now) there are ways around it by using a DEx but still, annoying to use for just your average gambler.

HMRC might get a bit sus when they request your information from the exchange and see large amounts going in and out of your bank to your exchange, into your casino wallet and back again etc etc for all they know you are being paid in crypto for a service which is taxable under income tax so atleast be prepared to show record of your transactions and proof you are gambling if required. Might not happen, but it’s a possibility.

Crypto casinos are better in many ways after the UKGC had their way, but offshore casinos are still unregulated and carry their own laws and risks and HMRC don’t take kindly to offshore gambling sites taking their tax money which otherwise would have come from a site regulated by the UKGC for their expensive licence to operate in the UK, among other taxable events. If you are gonna do it, atleast take the time to understand what you are doing and the possible implications first.

If all of that sounds like to much of an utter ballache stick to UK casinos and save yourself the hasstle.

hope this helps anyone who stuck around long enough to read the whole thing.

 

 

 

 

 

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