u/Aggressive-Way-8030

I made another post about winning a large sum of crypto gambling (Blackjack side bet, three lucky 7’s) on an offshore, slightly sketchy crypto casino, due to me being on Gamstop it’s the only way I could actually gamble.

I have made an appointment with an accountant for tax so that is ok. The money has been sat in BTC in my kraken for 6 months and I have traded some a little so they will help me figure out what tax I owe barring the gambling winnings which I believe will be untaxable.

Any cgt I may owe from trading with these winnings isn’t my concern now, it’s how to actually get this money out.

Have people ever withdrew large sums of money -50k- without any issues to UK banks? What bank is best?

I don’t have proof of the win from the gambling site because I deleted my account instantly post withdrawal because I didn’t want any temptation to gamble. The money was sent to me via XMR which I sent to a cold wallet and then transferred to BTC -> to my Kraken.

I have tried to contact them but they can’t help me. I don’t think they would comply with anything if I tried to force their hand to retrieve evidence I won that money. Typical sketchy offshore unregulated site, wish I used rainbet or something now which will keep your records on a cooling off period.

It just looks like a random 50k received that I can’t prove other than a ‘gambling’ backstory. It has been in my Kraken for half a year so that’s a bonus and I’ve had the account fully verified for years.

Should I withdraw it in sections? I don’t want to intentionally do anything other than make sure my cash won’t be frozen.

Anybody done Coinbase - PayPal withdrawals on large sums? I have done it with just under 5 grand in the past but worried about a lot more money trusting PayPal even though fully verified on there.

All I have to provide to the bank if they freeze and ask for proof is my kraken statement and my story. I don’t have the initial deposit evidence either. I fear that xmr, gambling, all gives red flags.

Another pointer is it’s a lot of money in comparison to what I would usually have in my bank so probably will flag up aml. I am not sending it to my main savings account where financially it wouldn’t be a mismatch, only because it isn’t crypto friendly and I don’t want to mix incase of freezing. So naturally it’s an account with little income into and that’s another worry them seeing a random £50k.

Please don’t message me and please don’t say you’ll do cash for crypto. What good is that to someone who needs it in their account without interrogation?

Hi all. I have a large sum of BTC which I won gambling in an offshore casino. I am on GamStop so it’s the only way I could gamble freely. We are talking about a five figure sum and not the low end but in the multiple tens of thousands.

The issue is the moment that I withdrew this money, I deleted and self excluded from the gambling platform. I cannot even get receipts to prove I won it. I didn’t want any temptation to continue on gambling. So the money is sat in my Kraken which I received as XMR initially and then traded across to BTC which has been there for 6 months.

I’m happy to pay cgt with a cost basis of £0 worse case scenario but I’m just worried on proving this to anybody as there is nothing and it doesn’t sound amazing. But I also know gambling winning are tax free so I don’t know if the only taxable event are my trades since receiving the crypto and any profits since. I have a long standing verified account on kraken. Never had any issues or with my bank. I’m worried about the withdrawal of this then hmrc. I did win 4.3k on slots that I withdrew from Coinbase to PayPal like 8 months ago and I had no issues but we’re talking 20+x that amount.

What should I do honestly? I have no evidence other than actually receiving the crypto in. What bank is best?

I have no proof of the deposit to the gambling platform as it only accepts xmr so I just used money in a cold wallet which I don’t even remember the seed for now and is empty. It was a 777 in blackjack :) the casino is pretty unregulated so won’t give me anything unfortunately.

Yes I know gambling is bad, no I haven’t gambled since. I do not suggest anybody replicates what I did. Thank you.

Am I screwed with no proof? I don’t want locked funds from the bank or hmrc chasing me like a criminal for things I literally have no way to provide. I’ve spent months trying now. Very worried about disposing.

I have a brain aneurysm trying to explain this and gambling is a red flag in and of itself. My bank can see I enjoyed gambling and validate the gamstop story but honestly i don’t know what direction to even go in.