Post
Topic
Board Gambling
Re: SocialBet Launches! :: Make Gambling Social Again! :: 0% House Edge
by
davis196
on 11/03/2019, 07:19:29 UTC
0% house edge? So how will you make profit? I just checked your site for a while, my concern goes to this:

Quote
20. The User is fully responsible for paying all fees and taxes applied to their winnings according to the laws of the jurisdiction of User’s residence.

So players should pay income's fee to the local government? I dont quite understand about above term as it is the first time I read this term.

Quote
59. To withdraw funds, We require complete verification of Your account with all the docs needed
This other term will not make your site become popular in this bitcoin gambling industry, what is the point of accepting bitcoin only but you requires for KYC?

There are some big winners under the recent winners tab, 3-4btc win. Are they real winners?



Rule 20 is just common sense.I'm suprised that they put this in their Terms of service.Every player has to pay taxes for his winnings.Gambling profits are an income and they are taxated in every normal country.
I don't understand the thing about KYC.How they will keep and use the sensitive info from all users,if they don't generate enough revenue to pay for better security.