Malaysia is a constitutional monarchy situated in Southeast Asia. It consists of two regions that are separated by the South China Sea. Peninsular Malaysia borders Thailand while East Malaysia shares borders with Brunei and Indonesia. Since it gained independence in 1965, Malaysia has been one of fastest growing economies in the region. The economy, which once relied on natural resources, has made great strides in science, tourism, and commerce which has helped it grow into an industrialized economy.
Malaysian gambling laws are a little different from most other jurisdictions. It is one of the few predominantly Islam nations to allow legal betting but only non-Muslims may participate. Muslims caught gambling face fines and imprisonment. There is a total of 4 full-fledged casinos and 3 horse racing tracks in operation but they are only open to non-Muslims. Online gambling is prohibited but the authorities do not appear too keen on prosecuting players although they have made a couple relatively futile attempts to combat it. Banks are supposed to block financial transactions with foreign online betting sites but this measure does not appear to be followed.
For the time being, Malaysian internet gambling is alive and well and the biggest and most respected online gambling companies are taking bets from Malaysian online casino goers. The online wagering companies are doing good business and until Malaysian gambling laws are amended to reflect the realities of internet betting, it doesn’t seem like anything will change soon.
Top 10 Gambling Sites for Malaysia
What are the Best Gambling Sites and Promotions for Malaysia?
With a population exceeding 30 million and limited options for betting, Malaysia is being aggressively targeted by online gambling operators. The most reputable and trusted brand names are catering to this bet-hungry market and they are issuing a whole lot of bonuses. 5 Dimes is greeting new Malaysian online casino players with $50 in casino bonuses. Malaysian gambling laws might say no but Unibet is saying yes with up to €100 in casino bonuses. €100 in casino bonuses are also available at Guts, Casino Kings and BetMotion and Malaysian online casino fans won’t want to miss out on the €200 bonuses that can be easily claimed at 50Stars, Carnival, and at industry giant Bwin. How can you say no to the $10,000 in bonuses that Play Grand Casino will credit you with?
There are hordes of Malaysian online poker players looking for a respected site that offers poker bonuses and they will be thrilled with the €200 in poker bonuses that Unibet gives them and 888’s $400 in extras.
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How Regulated is the Malaysian Gambling Market?
The Malaysian gambling market is tightly regulated through a series of over 30 statutes and laws. The Betting Control Unit, a branch of the Ministry of Finance, is in charge of licensing betting operators within the country. Online wagering is illegal but there does not seem to be much of an appetite to prosecute players.
Is Gambling Legal in Malaysia? What is the Legal Age?
The legality of gambling in Malaysia depends mainly on religious persuasions. Malaysians Muslims are prohibited from gambling as prescribed by Islamic law. Non-Muslims are free to gamble at casinos, horse tracks, and any other legal betting establishment. They can also play the lotteries.
Online gambling is illegal for all residents but the authorities do not penalize players that do. The legal age to place a bet in Malaysia is 21.
Does Malaysia Tax Gambling Winnings?
Malaysia does not tax gambling winnings. Casinos and other gambling platforms are subject to taxes that are estimated to be in the neighborhood of $700 million annually.
What Currencies and Payment Methods do Malaysian Players Generally Use?
The official currency of Malaysia is the ringgit and it is accepted everywhere. When it comes to performing financial transactions with online gambling sites, EntroPay is one of the best options but eWallets like Skrill, Neteller, and WebMoney can also be used. Credit cards can be used at some sites but there are a few jurisdictions that will not accept credit card payments from Malaysian customers. Be sure to check your preferred online betting site to find out what the best method is for you.