At our website, you will find the most popular currencies that people use to bet with, so the inclusion of the Chinese Yuan is completely justified.
The Chinese government isn’t very open when it comes to gambling and doesn’t allow websites which are based in China, but many Chinese punters sign up for bookmakers outside of the country which is perfectly legal. Unfortunately, only one betting website offers the Chinese Yuan as a betting currency and we’ll tell you more about them in this article. You will also learn about the deposit methods that you can use and if you should pay tax on your gambling winnings.
Where can you bet using Chinese Yuan?
|Bookmaker||Founded||Jurisdiction||Bonus||Min. Bet||Max. Bet||Grade||Review|
|1999||United Kingdom||-||£2||No max||
* T&C’s apply. Click on Bet now to view the offer!
As we mentioned earlier in the article, there’s only one place where you can make deposits using Chinese Yuan, at that’s bet365. Chinese punters don’t have to worry because bet365 is one of the best gambling websites available out there and it has great odds and market variety.
Bet365 – It makes sense for bet365 to be a popular option amongst Chinese gamblers, seeing as it’s the only one which lets them deposit in their own currency. The economic situation in the country is very complicated and this leads to fewer deposit options being available. People can top up their account using Asia365 and Click2Pay. They can also be used for making withdrawals, in addition to the wire transfer. Even though you can’t deposit using a credit or debit card, Asia365 offers very similar options to it.
Gambling Tax in China
There is a big difference between the theoretical and practical aspect of the gambling taxation laws in the country. China requires people to pay taxes on their winnings, but most people don’t do it and are almost never busted for it. The administrative system of China isn’t good enough to control more than one billion people, so this law often is ignored. This makes paying tax on your gambling winnings a very unlikely occurrence, but we recommend that you huge attention to the next paragraph.
What payment methods should people who want to deposit in Chinese Yuan use?
If you want to feel safe when making deposits and, more importantly, withdrawals, we think that you should choose a website to act as a third party between your bank account and the bookmaker. The ideal choice would be Click2Pay because the transaction on your bank account will from them and not bet365.
This means that it’s harder for people to find out where actually the money comes from because many other websites have the option of paying with Click2Pay. This means you can avoid paying tax on your winnings.
Creating an account at Click2Pay is an extremely easy process and you can do it very quickly. You just need to enter your bank account details at the website and choose Click2Pay when you decide to withdraw your winnings from bet365. If you follow all the steps that we mentioned above, it’s highly unlikely that you will need to pay gambling tax in China.