Online Gaming in Malaysia
Online gaming has a vast reach that has been expanding for the past two decades. Malaysia is not left behind, having access to all casinos the market has to offer. If you happen to be from Malaysia, rest assured you can play at any online casino that is willing to accept your wager. As far as you should know, play as much as you want without worrying that somebody will come with a knock on your door. It’s a big online gaming market and you can explore all of it.
Online Gaming Rules & Regulations in Malaysia
To some it might be unclear how a country that has been part of the notorious restricted country lists for many years, still has access to online casinos. Just like there are no two players alike, there are diverse online casinos with different scopes and objectives.
Malaysians should know that if the casino accepts wagers from players from Malaysia, they can play. The government of Malaysia seems to be preoccupied with other national matters. The Sharia Law prohibits gambling and operation of gambling facilities on the grounds of Malaysia. However, there hasn’t been any action from the government as to enforce this law. Moreover, there isn’t a law that explicitly states that online gaming is prohibited.
An outdated law since the 1950s can be interpreted that it is an obstacle for online casino players from Malaysia, but as we hinted earlier, the government just doesn’t care. Online casinos cannot be operated in Malaysia, but Malays can play at online casinos.
The Casino Market in Malaysia
Despite what we said earlier, Malaysia has one of the most luxurious gambling resorts in the world called Genting Highlands Resort. As the name suggests, it’s a mountain resort where passionate casino players from all over the world can enjoy all types of games while being treated as royalty. Nevertheless, we’re here to talk about the online casino market in Malaysia.
Players’ safety is a major concern, especially when the government won’t watch your back in case you get mistreated. Then again, the lack of regulation gives Malaysian players plenty of options. That’s why it’s recommended to stick with online casinos that have proven to be fair, kind and generous to their players. More importantly, play only at regulated, licensed and regularly audited online casinos if you want to be reassured that you have gotten a fair chance at winning.
Online Casino Winnings and Taxes in Malaysia
Because gambling or gaming is illegal you cannot report your profits to the tax authority. The luxurious gambling resort, Genting Highlands Resort is the entity that’s getting taxed. If, let’s assume online gaming was legal in Malaysia, players would’ve had to report the profits. The online casino operator might have had to report your profits to the tax authority as a safety net that all players that have profited have reported their profits.
For the time being, Malays players can enjoy tax free online gaming. However, South East Asia proved to be a fast evolving gaming market. If governments sense that they can increase the tax revenues they become adamant that online gaming must become regulated and all winnings, profits taxed. On the other hand, this means higher player safety. In a way, it’s a double-edged sword.
The Top 3 Best Malaysia Online Casinos
Because the online gaming offer is not shaped by their very own laws, it all comes down to the affinity of the casino operator and the player. If they can reach a middle ground for cooperation, it can become one fruitful relationship with many exciting and memorable moments. Malay players should keep an eye on the restricted countries list as it usually is listed among other usual suspects. Furthermore, if you want to play with bonus funds, you should check the bonus terms as well to see if you’re eligible for bonus deals and promotions.
Guts Casino has proven to be a great gaming environment for players from Malaysia, offering a diverse online casino game collection and a continuous stream of unique promotions. Take a shot at Casino Room as our 2nd suggestion for Malaysian players. You will enjoy NetEnt’s games for sure!
Last on our top 3 online casinos for players from Malaysia is BitStarz Casino. They’ve gone above and beyond to get closer to every player from any corner of the Earth. Deposit and play in Bitcoins, enjoy an abundant game library. On top of this, you are treated fairly with state of the art Provability fairness system.