Sunday, February 25, 2024

Sports Betting – Best Betting Sites in Malaysia in 2023

Malaysians have a passion for sports, especially football. It is estimated that over MYR 4 billion is wagered annually on sports online, with about 90 percent of that total on football.

Despite the popularity of online Sports Betting in Malaysia, the activity is illegal. The penalties can be quite severe depending on which laws you’re subject to. Actually punters still need to start betting on their favourite games. Learn more about the sports betting laws in Malaysia, the types of sports you can bet with offshore sportsbooks and how you can deposit at an online sportsbook.

Malaysia Betting Sites

Online sports betting is supremely popular in Malaysia, with most bettors focusing their bets on football. So many turn to online sports betting despite its legal standing because of the lack of options in the legal market and because much of the nation is subject to strict Sharia law.

Offshore sportsbooks offer punters options for betting on their favourite sports with some of the best odds you can find anywhere. Many sportsbooks support Malay odds. You can place various bets, including parlays, teasers, head-to-head bets, straight bets, money line bets and much more.

Check out the promotions on each sportsbook for exclusive offers to new players. Many offer welcome and first-deposit bonuses, typically with a 100 percent match. If you deposit $50, you can start betting with $100. Terms and conditions apply, so check the promotions section for more details.

Are Sports Betting Legal In Malaysia?

Unfortunately, online sports betting is presently illegal in Malaysia. The penalties vary depending on which law you’re subject to. For about 40 percent of the population, betting in live casinos is legal, and the only form of sports betting allowed is parimutuel horse racing.

However, the Muslim population of Malaysia is subject to Sharia law. Under Sharia law, if you’re caught gambling, you will face a fine of up to 3,000 MYR ($750 US), a potential prison sentence of two years, or even both.

The Malaysian government is serious about cracking down on “illegal gambling,” but it is focusing efforts on makeshift betting houses and bookies, not on individuals. If you plan to place bets on online sportsbooks, you will be left alone provided you exercise caution with your betting, such as doing so over a VPN.

Former prime minister Najib Razak requested that legalized sports betting be studied before leaving office, so Malaysian lawmakers will likely revisit sports betting laws soon.

What Are Popular Sports To Bet On In Malaysia?

Football is easily the most popular sport to bet on in Malaysia. The Super League, Premier League, Malaysia Cup and FA Cup receive tons of action. There’s also plenty of betting on the UEFA Champions League, La Liga, Serie A, Bundesliga and the FIFA World Cup.

Outside of football, Malaysians bet on a wide variety of sports. Basketball is popular, with the Malaysia Dragons of the ASEAN Basketball League (ABL) being a favourite team to bet on. Punters also like to bet on cricket, volleyball and even badminton.

A wide variety of American and international sports are available for betting, including the NBA, MLB, NFL, NHL, Aussie Rules football and the UFC. Some sportsbooks even take bets on various esports leagues.

Do Bettors Have To Pay Taxes On Their Winnings?

Malaysia is a punter’s paradise as the government does not tax gambling winnings. Instead, it charges licensed casinos and operators a rate of 25 percent of all revenue earned.

If Malaysia changes its laws regarding sports betting in the future, do not be surprised to see it change the tax laws as well. But for now, enjoy the tax-free winnings!

How To Make A Deposit At A Sportsbook In Malaysia

With online gambling being illegal in Malaysia, you will find your options limited when depositing to an offshore sportsbook. Credit cards and bank account deposits are out of the question as banks regularly block gambling transactions.

Your best option is going to be an e-wallet. With an e-wallet, you transfer funds from your bank account or credit card to the e-wallet and then use it to make payments to online vendors. Skrill and Neteller are the two most commonly used e-wallets among online sportsbooks. You will likely have to convert your MYR to EUR or GBP to make a deposit.

Other potential options include EntroPay and PayPal. EntroPay allows you to make payments using USD, while PayPal allows various currencies.

Selected sportsbooks may even allow you to deposit using bitcoin or other cryptocurrencies. After purchasing bitcoin, you can transfer some to your sportsbook account, and the bitcoin is automatically converted into MYR or the currency you choose to use on the website.

Mobile Betting Options

You can place bets via your mobile devices if you’re regularly on the go. Most sites offer mobile betting and exclusive promotional offers for mobile bettors.

Many sites will offer you the option of betting via their mobile-optimized website. Just log in to the site using your device’s web browser and enjoy the same features as you would on your home PC.

Other sites will offer you a dedicated mobile app for placing sports bets. While convenient, some mobile apps may lack specific functions compared to the standard PC site. Any limitations are typically spelled out in the app description.

We recommend checking out your site’s mobile promotions. These offers are in addition to any on the PC site and range from free bets to match bonuses. Details can be found in the promotions section. You may need to access the site via your mobile device to see available promotions.

Note that due to the legal climate in Malaysia, we recommend that you avoid placing bets in internet cafes or over public Wi-Fi. If you choose public Wi-Fi or an internet cafe, please do so over a VPN.

Related Articles

Mastering the Reels: Essential Strategies for Slot Machine Success

Introduction Slot machines have been a staple of casinos for decades, captivating players with their flashing lights, enticing sounds, and the promise of big wins....

Unveiling 6 Sneaky Strategies for Winning Big in Online Casino Games

In the realm of online gambling, mastering the art of strategic play can be the difference between a thrilling victory and a devastating defeat....

Exploring and Understanding the Ultimate Guide to Buying Game Keys Online

In today's digital age, gaming has become more accessible and diverse. With the rise of online gaming platforms and digital distribution, buying game keys...

Latest Articles

Mastering the Reels: Essential Strategies for Slot Machine Success

Introduction Slot machines have been a staple of casinos for decades, captivating players with their flashing lights, enticing sounds, and the promise of big wins....

Unveiling 6 Sneaky Strategies for Winning Big in Online Casino Games

In the realm of online gambling, mastering the art of strategic play can be the difference between a thrilling victory and a devastating defeat....

Exploring and Understanding the Ultimate Guide to Buying Game Keys Online

In today's digital age, gaming has become more accessible and diverse. With the rise of online gaming platforms and digital distribution, buying game keys...

Metrics that Determine Player Performance

99exch, World777, Laser247 : One of the crucial metrics that determine player performance in any sport is the player's overall efficiency. Efficiency can be...

Unlocking the Mystery of KK8: Exploring the Enigmatic World of KK8 MY

In the digital realm, where acronyms and cryptic terms often dominate conversations, one might stumble upon the intriguing duo of "KK8" and "KK8 MY."...