The “renminbi” (CNY) is the official currency of the People’s Republic of China and it is one of the most traded and used currencies in the world.
This shouldn’t shock too many people seeing that China is the most populated country on Earth with a population of over 1.3 billion residents.
Another fact that won’t drop too many jaws is that China ranks #1 in gambling revenues despite the fact that most forms of gambling, including internet gambling are illegal there.
The authorities take a moderately hard stance against gambling. The government blocks many sites although they do not do this with the same zeal as they do in some other countries.
Another anti-gambling measure that authorities have implemented is ordering financial institutions to block and financial transaction with online betting sites.
Chinese punters are thankful that they can still use other methods like eWallets to fund their betting accounts and stay in the action.
It may be illegal to participate in online gambling in China but players are very rarely prosecuted.
Top CNY Betting Sites
Who can Use CNY when Making Sports Bets?
Almost anyone with a renminbi eWallet account can make sports bets using CNY. The use of banks transfers and credit/debit cards is tough because the government has directed these institutions to block transactions with betting sites.
Some Chinese citizens are able to process CNY sportsbook deposits with prepaid cards and those with cash can also successfully make CNY sportsbook deposits via wire services. Where there’s a will there’s a way.
Even if an online bookmaker does not offer CNY for betting currency, they will almost certainly accept the renminbi for deposits. The sportsbook will just convert the funds into a supported betting currency.
What Sportsbooks Offer the Renminbi as a Betting Currency Option?
Despite the gambling restrictions in place, Chinese punters have some good options at their disposal when it comes to choosing a top-rated bookmaker that allows betting in CNY. Gamblingjudge.com lists 101 recommended bookmakers for Chinese punters.
Just 13 of them offer betting in CNY. On the plus side, those that allow it are among the most respected bookies in the business. Industry leaders such as Pinnacle, Marathon Bet, and 18Bet all offer their customers the option to bet using CNY. You can bet with renminbi at VBet, Jetbull, and Noxwin as well as at Exclusive Bet, Mansion, and Real Deal.
Remember that Chinese punters can still deposit using renminbi at many great online bookies. They just won’t be able to place bets in CNY.
Are there any Betting Bonuses for Renminbi Deposits?
There are loads of betting bonuses available to those who deposit using CNY. Some of these bonuses are advertised in other currencies such as euros and American dollars but these bonuses will be issued in renminbi equivalent.
Industry giant Dafabet is giving away up to CNY 888 CNY in bonuses on renminbi sportsbook deposits. If you make a deposit using CNY at Paradise Win, Bet Motion, Efbet, or William Hill you can collect up to €100 in betting bonuses. If you deposit using renminbi you can earn you up to €200 at OddsRing or $500 USD at BetDNA.
More great bonuses and promotions are easily found in the sportsbook database or promotions section at Gamblingjudge.com. Get yours today and get into the game!!
What are the Minimum and Maximum Amounts for Depositing and Withdrawing in CNY?
There is no one answer to this question. Minimum and maximum amounts for deposits and withdrawals depend on what sportsbook and payment method you use. Almost all bookmakers have different limits. Even bookies that use common payment processors like Visa and Mastercard have different limits.
One sportsbook may have a $10 minimum and a $5,000 maximum on Entropay deposits while another bookie will have a $20 minimum and $10,000 maximum using the same method. The very same goes for withdrawals.
You need to check with your preferred bookmaker to find out what limits you face when making renminbi sportsbook deposits and withdrawals.
You can get a general idea of what these limits are by using the sortable sportsbook database at Gamblingjudge.com. Simply select your country then choose your payment method, preferred currency, and minimum and maximum deposit and withdrawal parameters.