The recent literature on platform work and the welfare state has stressed that, despite being affected by high‐income insecurity, platform workers cannot easily access social protection. However, it is unclear why platform workers encounter such barriers. This article offers an inductive and empirically based theoretical framework to investigate the obstacles faced by platform workers. It shows that the barriers experienced by platform workers depend on the eligibility criteria, the assessment criteria and the trade‐off between taxation and social protection. The article substantiates these claims by offering both a policy analysis of formal arrangements and a qualitative analysis of the lived experiences of welfare of 101 platform workers in Italy, Sweden and the UK during COVID‐19. The research found that, while many platform workers attempted to access social protection during COVID‐19, platform workers' access to social protection was affected by their positionality as outsiders, which clashes with the eligibility criteria (in Sweden and Italy); by the irregular nature of platform work, which contrasts with the rigidity of the assessment criteria (in the UK, Italy and Sweden); and by the implicit trade‐off experienced by platform workers between minimising taxation and accessing to social protection (in the UK and Italy).