Many people in Taiwan are known to be quite fond of gambling and they want to use the Taiwan Dollar as a payment currency. Even though it was illegal to gamble in the country, the popularity of online gambling rose with light speed. The main reason we created this article is to tell you about the best bookmakers that offer this currency, in addition to their payment methods and the gambling laws in Taiwan.
Where can you bet using Taiwan currency?
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Those who want to use the Taiwan Dollar as a deposit currency have two options available. Fortunately, they both are quality websites which rank high according to our bookmaker reviews.
- Bet365 – This site has almost every currency available, so we expected to see the Taiwan Dollar here. Taiwanese punters have a limited number of deposit and withdrawal options which can be blamed on the government and not the bookmaker. Some of the options include Skrill, Click2Pay, wire transfer, Entropay or debit card. You can withdraw money by using the same methods. You’re welcome to try!
- BetVictor – Despite the fact that BetVictor offers their customers the option to pay or receive money using Taiwan currency, they don’t have a wide variety of deposit options. The only ways you can top up your account by using this currency are by debit cards or PayPal. They can also be used for withdrawing money, but if you want more deposit options, bet365 is the place for you.
Gambling Tax in Taiwan
There are many complicated gambling laws in this country, but you won’t see people paying gambling tax from websites which accept Taiwan Dollars. Seeing as there are no bookmakers based in Taiwan because the law forbids it, the government can’t afford to track people who are betting at foreign bookmakers. This task becomes even harder when you take into account that many people use eWallets.
The government has begun to loosen the straps on some of the regulations regarding gambling, which led to casinos being built in the country. This means that soon we may see it allowing local gambling sites to set up shop which can result in profit for the government itself. Of course, if this all happens, a gambling tax on winnings may be introduced, so we recommend that our readers follow the situation closely if any new information presents itself.
What payment methods should people who want to deposit in Taiwan Dollar use?
The laws in the country are heavily restricting the payment options for those who want to use the Taiwan Dollar. Even though it’s possible to deposit with a debit card, we wouldn’t recommend it.
A better option would be an eWallet service like PayPal or Skrill because that way you can use them as a third party between the bank and the bookmaker and thus avoid any legal confrontation with the government. The winnings you make will be hidden from your bank account, and you can only see them by checking your eWallet.