Betting with Asian Connect

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  • prokroustis
    SBR Rookie
    • 10-05-17
    • 5

    #1
    Betting with Asian Connect
    Hello guys. I bet with Asian Connect and i was wondering in case that i 've won a huge amount is it possible to get a proof of income from them in order to open an international account with HSBC bank in Uk? Do banks consider AC as legal method of betting in UK ?
    Would you consider skrill as a safe e-wallet or there is a chance one day to close my account and confiscate my winnings?
  • ichiro4thehall
    SBR High Roller
    • 12-02-09
    • 244

    #2
    In the UK, gambling winnings are not considered income. Asian Connect I do not believe has a UK gambling license, but you will face no penalty for gambling with them if you are in the UK.

    Banks in the UK can ask for proof of income, but seldom do. Are you trying to open an HSBC Premier account and show earnings over 100k?

    A better way to get this account is to open an HSBC Advance account, deposit 50k in it, or in a savings account or ISA, then apply for a Premier account. You are eligible for a Premier account if you have 50k worth of money deposited with HSBC across all its products. This should allow you to opern a Premier account without having proof of a 100k income, which I assume you do not have as an Advanced account is less likely to ask for proof of income.

    This all assumes you legally reside in the UK and can prove this, and better still are on electoral register.
    Comment
    • ichiro4thehall
      SBR High Roller
      • 12-02-09
      • 244

      #3
      Forgot to add. I consider Skrill a very safe e-wallet. Make sure to enable 2-factor authentication if you are holding large balances there. Their support can be very slow, and they are getting more and more greedy with fees. In fact, their fee increase next month has the potential to affect their business very badly imo. That being said they are very trustworthy. Many people have traded millions through their wallets.
      Comment
      • lonnie55
        SBR MVP
        • 04-08-16
        • 2689

        #4
        Skrill = Neteller = Paysafe = pretty safe

        Comment
        • Mediterranean
          SBR Rookie
          • 05-12-18
          • 27

          #5
          Originally posted by ichiro4thehall
          In the UK, gambling winnings are not considered income. Asian Connect I do not believe has a UK gambling license, but you will face no penalty for gambling with them if you are in the UK.

          Banks in the UK can ask for proof of income, but seldom do. Are you trying to open an HSBC Premier account and show earnings over 100k?

          A better way to get this account is to open an HSBC Advance account, deposit 50k in it, or in a savings account or ISA, then apply for a Premier account. You are eligible for a Premier account if you have 50k worth of money deposited with HSBC across all its products. This should allow you to opern a Premier account without having proof of a 100k income, which I assume you do not have as an Advanced account is less likely to ask for proof of income.

          This all assumes you legally reside in the UK and can prove this, and better still are on electoral register.
          Comment
          • ichiro4thehall
            SBR High Roller
            • 12-02-09
            • 244

            #6
            Originally posted by Mediterranean

            I don't understand your point. You are providing proof that gambling winnings are not classed as income, or you think this means they are?
            Last edited by ichiro4thehall; 09-06-18, 11:05 PM. Reason: typo
            Comment
            • Mediterranean
              SBR Rookie
              • 05-12-18
              • 27

              #7
              Your point was quite clear and I admitted you're right.

              Link: "The fact that a taxpayer has a system by which they place their bets, or that they are sufficiently successful to earn a living by gambling does not make their activities a trade. ...is not enough to create a trade of being a ‘professional gambler’."
              Last edited by Mediterranean; 09-07-18, 05:15 AM.
              Comment
              • Alfie White
                SBR Wise Guy
                • 09-02-17
                • 680

                #8
                Not sure how UK authorities would look at bank transfers with AC, as I don't think they actually have license there. Also, be noted that AC's Paysafe accounts are not merchant ones as you would be promoted to send your funds to private accounts.
                Comment
                • prokroustis
                  SBR Rookie
                  • 10-05-17
                  • 5

                  #9
                  Unfortunately i don't live in uk and that's the main reason i am interesting for an international account. From what i 've read till now Lloyds bank would probably open an international account for me even without proof of income if i deposit 50,000 euros or more but i am pretty sure that they will ask for a source of income. I 've checked ukgc site and i 've just found out that Eastbridge do have a license or the company is under the umbrella of a license.
                  I guess that since they do have a uk license the bank will accept them as a source of income and i won't have any problems at all.
                  Please keep in mind that i am not trying to advertise anyone and i am very pleased by the AC service till now i am just trying to figure out the best solution for my problem.
                  Comment
                  • piterp
                    SBR High Roller
                    • 06-02-13
                    • 241

                    #10
                    Every transaction in EU above 15000 euro is going on radar
                    Comment
                    • Sawyer
                      SBR Hall of Famer
                      • 06-01-09
                      • 7737

                      #11
                      Use Bitcoin.
                      Comment
                      • Alfa1234
                        SBR MVP
                        • 12-19-15
                        • 2722

                        #12
                        Originally posted by Sawyer
                        Use Bitcoin.
                        Only problem is acquiring them in larger amounts. All exchanges also have to report. Localbitcoins is an option but the fees are fairly high.
                        Comment
                        • ichiro4thehall
                          SBR High Roller
                          • 12-02-09
                          • 244

                          #13
                          Originally posted by prokroustis
                          Unfortunately i don't live in uk and that's the main reason i am interesting for an international account. From what i 've read till now Lloyds bank would probably open an international account for me even without proof of income if i deposit 50,000 euros or more but i am pretty sure that they will ask for a source of income. I 've checked ukgc site and i 've just found out that Eastbridge do have a license or the company is under the umbrella of a license.
                          I guess that since they do have a uk license the bank will accept them as a source of income and i won't have any problems at all.
                          Please keep in mind that i am not trying to advertise anyone and i am very pleased by the AC service till now i am just trying to figure out the best solution for my problem.
                          I don't quite understand exactly what you want to do.

                          You must have deposited money to AsianConnect, why can't you withdraw to the same method?

                          As others have said, Bitcoin does seem to be your best option, altho as alfa says you will still perhaps run into questions or need to provide personal info at some stage.

                          Another solution could be Revolut - tho I personally would not trust them yet with large balances. One single revolut account can recieve payments in many currencies and has its own IBAN. Say you are Romanian, you could withdraw euros from AC to Revolut, then transfer euros to leu using Revolut's almost-market exchange rate, and then send the leus to your Romanian bank account from Revolut. This would save a lot in exchange fees if this was your concern.
                          Last edited by ichiro4thehall; 09-10-18, 07:57 AM. Reason: typos
                          Comment
                          • prokroustis
                            SBR Rookie
                            • 10-05-17
                            • 5

                            #14
                            Betting through AC is illegal in my country which means that i cannot transfer any winnings from my skrill account to my bank account. If i transfer any winnings they will ask for source of income they will confiscate my winnings and they prosecutor will press charges against me. Appart from that i will not be able to buy a car for example because the HRM will ask me where did i find the money and i bought the car. On the other hand if i manage to open account to a bank in the UK for example transfer my winnings to the uk ban account and then to the bank account of my country they will not asked anything because they don't have the right to do so! So my main issue is if i can open an account in the uk to legalise my winnings.
                            Comment
                            • RichCity
                              SBR Rookie
                              • 09-10-18
                              • 1

                              #15
                              Cool
                              Comment
                              • Optional
                                Administrator
                                • 06-10-10
                                • 61374

                                #16
                                Originally posted by prokroustis
                                Betting through AC is illegal in my country which means that i cannot transfer any winnings from my skrill account to my bank account. If i transfer any winnings they will ask for source of income they will confiscate my winnings and they prosecutor will press charges against me. Appart from that i will not be able to buy a car for example because the HRM will ask me where did i find the money and i bought the car. On the other hand if i manage to open account to a bank in the UK for example transfer my winnings to the uk ban account and then to the bank account of my country they will not asked anything because they don't have the right to do so! So my main issue is if i can open an account in the uk to legalise my winnings.
                                What country is it that is so tight like that?
                                .
                                Comment
                                • prokroustis
                                  SBR Rookie
                                  • 10-05-17
                                  • 5

                                  #17
                                  Originally posted by Optional
                                  What country is it that is so tight like that?
                                  I can't answer this in public. Since you are a moderator you can find the answer to your question if you just check the ip of my current post.
                                  Last edited by prokroustis; 09-11-18, 02:17 AM.
                                  Comment
                                  • ichiro4thehall
                                    SBR High Roller
                                    • 12-02-09
                                    • 244

                                    #18
                                    Revolut should be able to do what you want - again I'd add I personally wouldn't trust it yet, mainly due to their extremely slow support.

                                    I also think you are way over-estimating your country's financial policing.

                                    There are better and easier bank accounts to open up for you than a UK international-type account. Do Google searches for international bank accounts and Paypal. A lot of people who are paid via Paypal for whatever they do often ask about opening foreign bank accounts.
                                    Comment
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