Learn how you can deposit at a sports betting website using Malaysian Ringgit as a currency. Malaysia is another South Asian country where you can see an increase in gambling activities, especially online. The most popular sport there is horse racing, but considering the number of people who follow other sports, the interest in gambling will continue to rise.
This article will provide you with information about the best gambling websites that offer the ability to use Malaysian Ringgit as a payment currency, as well as details about the different deposit and withdrawal options available. Of course, we also tell our readers about the tax laws in the country.
Where can you bet using Malaysian Currency?
|Bookmaker||Founded||Jurisdiction||Bonus||Min. Bet||Max. Bet||Grade||Review|
|1999||United Kingdom||£30||£2||No max||
There are a lot of bookmakers available online, but the one which always delivers when it comes to currency options is bet365. This is a huge advantage for them, seeing as other bookies aren’t accepting payments in Malaysian Ringgit and it seems like the gambling industry will continue to grow in the country. We think that other websites may follow bet365’s example and allow their customers to deposit using Malaysian currency.
Bet365 – This bookmaker has the reputation of being the best in the world and rightfully so. This is good news for Malaysians looking to bet there using their own currency. Unfortunately, you won’t find many deposit options available for this currency. To be more precise, there is only one – the wire transfer. It can be used for both withdrawals and deposits, but the processing time may take up to 24 hours. We think that the inclusion of credit and debit cards as payment methods would be a step in the right direction from bet365. Go to Bet365!
Gambling Tax in Malaysia
The gambling operators in the country are forced to pay heavy taxes and this leads to them offering lower odds to the punters. That’s why it would be wiser to use foreign betting websites who will offer better odds and you still don’t have to pay taxes on your winnings. That way you can get more money from gambling by just choosing a different website. Keep in mind that regulations may always change, so make sure that you’re always in touch with the latest news.
What payment methods should people who want to deposit in Malaysian Ringgit use?
If you have read the article, you will know that there is only one deposit option available and it’s the wire transfer. In order to use it, you have to look for the bookmaker’s bank information and transfer the money to them by either online banking or going to the bank in person. After the process is completed, the money will be transferred to your account and you can start gambling with it.
There is no way to go around the wire transfer if you want to deposit money using Malaysian Ringgit. It’s disappointing that credit and debit cards aren’t accepted, but at the moment, that is how things stand. The positive is that you can feel secure when using this particular payment method.