Sports betting has been a popular pastime in Malaysia for many years. However, the legality of it in the country is a bit complicated. In this article, we will explore the state of sports betting in Malaysia and what bettors need to know.
The Legal Framework for Sports Betting in Malaysia
In Malaysia, sports betting is regulated under the Betting Act 1953. According to this, all forms of betting are illegal unless specifically exempted by the government. The only forms of legal betting in Malaysia are horse racing and lottery games.
Despite this, many sports betting sites cater to Malaysian bettors. These sites are often based in other countries and operate outside the Malaysian government’s jurisdiction.
The Impact of the Pandemic on Sports Betting in Malaysia
The COVID-19 pandemic has had a significant impact on sports betting in Malaysia. With many sporting events canceled or postponed, its activity has decreased significantly. The pandemic has also led to the closure of many land-based casinos and betting shops, further reducing the options for Malaysian bettors.
The Rise of Online Sports Betting
Sports betting has been on the rise. Many Malaysians are turning to online live casino Malaysia sites to place their bets on various sports, including:
Nonetheless, Malaysian bettors must know that not all online sports betting sites are safe and legal. Some areas may be scams or operate illegally, putting bettors at risk of losing their money or facing legal repercussions.
The Future of Sports Betting in Malaysia
It is unclear what the future of sports betting in Malaysia will look like. The government has not shown signs of legalizing sports betting, and the pandemic may continue limiting land-based sports betting options.
In spite of this, live casino online Malaysia sports betting is likely to continue to grow in popularity. Particularly as more Malaysians gain access to the internet and smartphones. Hence, it is vital for bettors to do their research and only use reputable and legal online sports betting sites to avoid any potential risks.
Online sports betting’s popularity is continuing to snowball. Thus, bettors need to be aware of the potential risks involved. Check out the infographic below brought to you by CM2BET and learn about these five tips for sports bettor’s beginners: