It is prevalent to wager on horse races, sporting events, and any form of online betting in Malaysia. Despite this fact alone, it still depends on the laws that govern sports betting in Malaysia if it’s legal. Two-thirds of Malaysians are Malay Muslims. They are expected to follow the law, as well as non-Muslim minorities. Legal sports betting includes the thriving casino sector.
Malaysians love sports gambling. There is no doubt about that. Online gambling has made it easier and more affordable to gamble online, even though traditional casino gambling is still illegal in Malaysia. Many international gambling websites accept Malaysian currencies.
For non-natives, betting on Malaysian sports may be illegal. However, for foreigners, it is legal. A licensed bookmaker can support them and allow their bet on any horse race, sport, or another event. Legally placing bets via an offshore bookmaker is still a matter of debate.
While the law in Malaysia is complex, gambling is not prohibited. Gambling, although legal, is considered dangerous, and some people choose it. The Betting Act was established in Malaysia after independence in 1953 has not been revised since 2006. The reality in this matter is that it does not permit online gambling. This regulation only allows anyone to access a betting hall without a license. They can face a maximum penalty of 5,000 MYR and up to six months imprisonment if they do.
To restrict citizens’ access to gambling websites, the government has ordered banks to refuse to accept transfers to foreign gambling sites. It is essential to be familiar with Malaysia’s online betting laws before starting a business.
Continue reading the infographic below generated and designed by the famous company that provides a valid Singapore horse racing race card, CM2BET, as they share and publicize all the pros & cons of betting in Malaysia’s realm