Privacy settings

We use a number of cookies on our website. Some are essential, while others help us improve our portal for you.

Privacy settings

Here is an overview of all the cookies we use. You can choose to accept whole categories or view more information and select only certain cookies.

Essential (6)

Essential cookies enable basic functions and are necessary for the website to function properly.

Statistics (3)

Statistics cookies collect information anonymously. This information helps us to understand how our visitors use our website.
If the statistics cookies are subsequently deselected, they will remain on the computer until the expiry date. However, they are neither updated nor evaluated.

Online Casinos in general: Crypto Casino - Legal situation

Topic created on 23rd Oct. 2021 | Page: 1 of 1 | Answers: 9 | Views: 1,750
bacc96

Crypto Casino - Legal situation

23rd Oct. 2021, at 09:20 pm CEST#1
0 Likes

Nobody has liked this post so far
Hello all,

maybe some know the Faucet -Casino name removed for security reasons- - here you get a small sum in BTC (0.00000001 for example) by clicking and solving a captcha. Besides, they have introduced a Hi/Lo Multiplier and sports betting throughout the years - to a moderate extent. In connection with the multiplier, you can win lottery tickets (weekly) and Golden Tickets (every 6 months) by wagering. In the case of the Golden Tickets lottery, the draw took place a few days ago, and the winner was actually a colleague of mine who has been using the site for years and had started discovering cryptos for himself.
First of all, he was overwhelmed by the win, he chose to pay out in BTC (the choice was otherwise a Lambo), a total of 3.08 BTC. Now comes the problem
He would like to declare the win so everything goes correctly. He would like to sell 1 BTC to treat himself as well, however, with a cash inflow of 50,000 euros, the bank would get very suspicious and ask. -Casino name removed for security reasons- also belongs to -Casino name removed for security reasons- (Curacao license), -Casino name removed for security reasons- itself has no license at all. He signed up for the free Bitcoins there at the time and was now just lucky to have won in this draw.
Does anyone know how this works when you win cryptos? After all, he did not receive a real amount of money, but an asset/property - that has to be declared to customs from 10,000 euros. I don't think there has been such a case in Germany yet. Therefore, my question would be if you might have a recommendation for legal advice? My colleague is currently in extreme panic and somehow hopes that - even if taxes are due - he can keep some of it.

This post has been translated automatically

Schurz28
Visitor

Crypto Casino - Legal situation

25th Oct. 2021, at 01:38 pm CEST#2
0 Likes

Nobody has liked this post so far
Your buddy should check out advcash.gi.
It's a crypto debit card, just load it up and spend money 😉

This post has been translated automatically

NoSkill_NoKill
Experienced

Crypto Casino - Legal situation

25th Oct. 2021, at 01:46 pm CEST#3
0 Likes

Nobody has liked this post so far
How can I load money from the casino onto the card?

This post has been translated automatically

S****u

Crypto Casino - Legal situation

25th Oct. 2021, at 01:53 pm CEST#4
0 Likes

Nobody has liked this post so far
to sell a Bitcoin is not necessary. If he has it on a Binance Wallet, he can simply pay with the Binance Visacard. Without any registrations or customs

This post has been translated automatically

bacc96

Crypto Casino - Legal situation

25th Oct. 2021, at 02:54 pm CEST#5
0 Likes

Nobody has liked this post so far
Thanks for the replies, but I think you are imagining this too easily.
Regulation in cryptospace continues to pick up steam, this includes exchanges like Binance trying to become more transparent to regulators. That may also be the case after the fact.
It is also not safe to hold your Bitcoins on an exchange.

This post has been translated automatically

S****u

Crypto Casino - Legal situation

25th Oct. 2021, at 03:21 pm CEST#6
0 Likes

Nobody has liked this post so far
bacc96 wrote on 10/25/2021 at 2:54 pm: Thanks for the replies, but I think you are imagining this too easily.
Regulation in cryptospace continues to pick up steam, this includes exchanges like Binance trying to become more transparent to regulators. That may also be the case after the fact.
It is also not safe to hold your Bitcoins on an exchange.

as slow as the German authorities are working, nothing will happen in 10 years. For them, the Internet is still uncharted territory and cryptos even more so. Leave one BTC on the exchange and load 2 onto the ledger and store them in the safe for a few years.

This post has been translated automatically

bacc96

Crypto Casino - Legal situation

25th Oct. 2021, at 03:38 pm CEST#7
0 Likes

Nobody has liked this post so far
Shiba-Inu wrote on 25.10.2021 at 15:21
as slow as the German authorities are working, nothing will happen in 10 years. For them internet is still new territory and cryptos even more so. Leave one BTC on the exchange and load 2 on the ledger and stash it in the safe for a few years.

Sure, but what about in 10 years? Or in 5 years, when it will be noticed? It's not really about hiding it, but rather asking how it was handled at other Bitcoin casinos (none of which have an EU license) in the past

This post has been translated automatically

S****u

Crypto Casino - Legal situation

25th Oct. 2021, at 03:44 pm CEST#8
0 Likes

Nobody has liked this post so far
bacc96 wrote on 10/25/2021 at 3:38 pm
Sure, but then what about in 10 years? Or 5 years from now, when this will come to light? He is not trying to hide it, but asks how other Bitcoin casinos (all of which do not have an EU license) have handled it in the past.

Casinos are illegal in Germany as of now, regardless of whether it is a Malta or Curacao Bude, because no German licenses have been issued so far. Nevertheless, casinos are currently tolerated and wins are not confiscated in most cases. In addition, gambling winnings are tax-free. However, the win in this case is not paid in EUR, but in BTC. It is just a different currency and therefore does not lead to a tax liability. So do not know why you need to worry

This post has been translated automatically

bacc96

Crypto Casino - Legal situation

25th Oct. 2021, at 03:55 pm CEST#9
0 Likes

Nobody has liked this post so far
Correct. But gambling with tangible assets (but BTC is a digital asset) is also gambling - illegal. I don't know if it would be possible to invoke the fact that seizures were unsuccessful at casinos with an EU license if there was no such license. After all, that has always been a difference

Allowed in Eu -> does not mean that it is allowed in DE, therefore tolerated, but actually illegal.
Not allowed in Eu -> any reason for toleration?

This post has been translated automatically

S****u

Crypto Casino - Legal situation

25th Oct. 2021, at 04:15 pm CEST#10
0 Likes

Nobody has liked this post so far
i think by the time Binance and co. are regulated here and anything leaks out, any statute of limitations will have expired. But to be on the safe side, I would consult a lawyer and tax advisor.

This post has been translated automatically

Hot Topics22nd Nov. 2024 at 08:12 am CET

Offline Casinos
0
Casino Games
0
Offline Casinos
0

GambleJoe Team

Profile picture of JulianJulian
Community-Manager / Complaint SpecialistProfile picture of CounterCounter
Software developerProfile picture of MatthiasMatthias
Project manager
Profile picture of DanielDaniel
Founder

Community Forum-Moderators

Members who assist the GJ team in moderating the forum.
Profile picture of AndreAndre
Profile picture of gamble1gamble1
Profile picture of Langhans_innenLanghans_innen
Profile picture of SaphiraSaphira
GambleJoe is aimed exclusively at user whose allowed to play legally with his current location in online casinos and does not violate the current law.
It is the responsibility of the user to inform himself about the current legal situation. Gambling is prohibited for children and adolescents under the age of 18.
GambleJoe is a registered trademark with the EUIPO of GJ International Ltd.
© 2012-2024 GambleJoe.com
✕

Forgotten your password?

Create a new password here

  • 1. Fill in the 3 fields carefully and click on the green button
  • 2. Check your email inbox for a message from GambleJoe
  • 3. Click on the confirmation link in the email and your new password will be active immediately