Malaysia, as other Asian countries, has a great interest in various types of gambling including sports betting. Malaysians make bets quite often on the largest sport events around the globe.
If you plan on betting online in Malaysia, we have done all the hard work for you. We will also look at the best online betting sites that are available to players from Malaysia. What laws affect gambling in Malaysia and which games or sports are more popular to place your bet on?
Football betting is very popular in Malaysia as mentioned earlier. Fortunately, there are numerous foreign legal gambling websites where one can wager on football using Malaysian ringgit (MYR).
Let me start by putting you at rest concerning the laws, before I delve into the subject matter. There is a major campaign in Malaysia to amend the legislation to permit legal football betting.
One billion ringgit is wagered by Malaysians each day on football matches. Brick and mortar as well as online casinos are also popular with Malaysians.
In 2010, Ascot Sports was reportedly among the first companies that had been given the license to practice sports betting legally in Malaysia. However, this never happened due a protest by various members of the Malaysian society although there is a significant part of society desiring new legislations.
This is because legalisation would result in a huge amount of tax being paid, money leaving the hands of criminals and could help curb match fixing. However, betting from Malaysia remains illegal at present but the chances are few.
Instead of using Asian bookmakers, it is much safer to use European companies that are licensed in the EU and have no physical presence in Asia. Betting on sports online from home (not an internet café) with European bookies is very safe for Malaysians.
Sooner or later, you will most probably have to prove that you are who you claim you are before accessing an account on any betting site. This can entail sending your photo ID scans and a utility invoice with your name on it.
We strongly advise you not to bet online in Malaysia if you don’t have them. For the photo ID, your MyKad will work fine and for this purpose, a passport is even better.
A 48-paged ICAO e-passport, which is valid for five years, can be obtained easily by anyone and it costs only RM300. Any cable bill, internet bill, water bill, power bill, phone bill or anything like that will do as a utility bill. Now just get rid of this; what you need now is a banking method.
Our team has tested and approved all the sites we recommend. We appreciate that it is necessary to bet at secured and safe sites.
You must have a good standing as well as follow the right procedures to have your license. Any time we suggest a bookie be sure that your money is safe.
You will also be aware that you are being treated fairly and our suggested betting sites will pay out bonuses and honor them within specified time frames.
Malaysians have a wide range of excellent banking options. PayPal is one of the most favored money transfer services globally, and also happens to be this famous site for most sports bettors.
Our team of experts found the sites with the highest quality banking options. Most of our preferred sites accept deposits and withdrawals using PayPal. This provides you with an opportunity to easily complete swift safe expenditures so that you can bet on.
A different well-known option for financing betting in Malaysia is Skrill. Like PayPal, Skrill is a type of e-wallet and online payment system accepted by many bookmakers. Since the period before year 2000’s this firm has been operational and it has built up a solid reputation.
For people who desire privacy, security and easy transfer of funds between bookmakers’ accounts, Skrill is a good option. Therefore, Malaysians need to consider it highly.
Neteller is also a force to reckon with in the online transaction sector, and it is linked to Paysafe Group which owns Skrill, hence giving it the same security and reputation guarantees. Just like other names mentioned earlier, majority of our favorite bookies will take Neteller payments.
In the last few years, the opportunities for making bets with different payment methods have grown by leaps and bounds. It is now easier than ever to make quick, secure and discreet payments and withdrawals. One of the most recent additions to betting website’s banking pages is Bitcoin.
More and more online gambling sites are now ready to accept Bitcoin as one way of payment. Betting with Bitcoin provides an extra level of security, anonymity and depending on its, it can offer better value than regular currency.
Soccer is the most familiar game in Malaysia and throughout the world, hence online soccer betting comes as a matter of course. Malay players are typically enrolled at foreign football betting sites in Malaysia.
There are many advantages of online football gambling in Malaysia. One, it is simple and easy as all there is to do is place a bet on big competitions from anywhere in the world. Online sports betting platforms for soccer in Malaysia have all the international tournaments and major leagues like World Cup, English Premier League among other top ones.
Additionally, the advantage of time and data is there to make online betting on football easy and enjoyable. Traditionally, going to a bookie was tiresome and one had little information on what he/she wanted to bet on. But now days, Malaysia-based football betting sites provide you with opportunities for studying stats as well as reading about the latest team news before placing your bets.
In Malaysia, gambling winnings are not taxed. All of the authorized state-run casinos or lotteries do not levy charges on winners, but their operators. With online sports betting being illegal in Malaysia, there is no way the authorities can enforce payment.
However, the odds format is different and this is the only disadvantage of using European bookies for online betting from Malaysia. In Malaysia, they use what is known as Malay Odds in their betting sites.
In Europe, the term used to describe odds is European odds or decimal odds. Fractional odds are also given by a number of UK bookmakers.
Decimal odds show the amount of money you will receive if your bet wins.
Fractional odds are commonly used in the UK and Ireland and often appear on betting sites websites from these nations. Although you have the opportunity to modify this on your account settings most of the time.
Fractional odds exhibit potential winnings on the left and stake on the right.
It may take you some time to get accustomed to this, but in case of any need for help, use our SBO.net odds conversion calculator. Give us the different types of odds and we will take care of everything for you.
