Received money from offshore illegal online casino

[User_ab49faf7]

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User_ab49faf7
PARTICIPANT
March 5, 2025 at 3:19 pm

I used to play for fun on a big offshore casino which is currently banned in india.

They accidentally paid me 200x on a bet instead of 2x and i was able to withdraw the entire amount in the bank account. ( i have withdrew money from the account and closed it )

Casino is registered in usa but is banned in india, so is there anything i need to be aware of? Afaik they can’t really take any legal action, partly because they’re banned here and partly because they use shell companies to transact in india!

Any lawyer’s advice on this would be helpful, thank you.

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[Silentknight5363]

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Silentknight5363
PARTICIPANT
March 5, 2025 at 3:24 pm

If it is banned, you literally withdrew proceeds of crime. Whether today or tomorrow, the IT department will come.

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[User_ab49faf7]

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User_ab49faf7
OP
March 5, 2025 at 3:26 pm

They’re kind of using P2P system for deposit/withdrawals, so most likely i just withdrew money which someone else deposited to play on their casino.

Either-ways i intend to declare this as gambling income and pay 30% tax on it.

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[Happystar6849]

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Happystar6849
PARTICIPANT
March 5, 2025 at 3:46 pm

Consult a CA and pay short term capital gain of 30%.

After that nothing will happen

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