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He was putting in thousands, about $5,000 USD. They were letting him withdraw a few hundred here and there. Then he won something like $10k that’s when they did a Know Your Customer check. Which he failed, obviously. They kept his principal and his winnings, lol.
Hopefully he took it as a lesson. Not much else he can do. They said on their terms of service Americans were explicitly forbidden. Not much recourse.
That’s not a trick, that’s a legal requirement. They have to do KYC on a few grand and AML once it gets bigger. I had to go through this with Wise when I received a life insurance payout from another continent and I had to phone customer support to get it cleared.
I’m not saying it was illegal or anything, just that they probably make a lot of money turning on the KYC after big wins. They’ll never do one to a losing customer.
In that sense, I do believe it’s a bit tricky.
Hmm…
I’d wager KYC applies either way (anyone placing a bet should be known, not just who ends up winning) and not paying out wins is a clear breach of contract.
So very clearly doubly illegal. First they let any rando gamble, and then they don’t pay out wins.
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