Malaysians love to gamble. Whether it’s the high stakes of the horse racing industry, or the low-key card games during Friday night get-togethers, betting on something is a national pastime. The country has a developing legal gambling industry with several land-based casinos, lotteries, and sports books that are fully licensed and regulated by government authorities.

Unlicensed operators continue to operate as they can exploit several loopholes in the current laws regulating e-gaming activities in Malaysia Sportsbook.

Sports Betting in Asia 

Sports betting in Asia is highly regulated, more so than in any other part of the world. The Asian countries are cognizant of the damage sports betting has done to the economies of their countries in the past. As a result, they have implemented strict laws that govern the types of sports that can be bet on, the amount one can bet, how one can bet, and where one can bet.

In Asia, the most popular sports to bet on include badminton, basketball, football, golf, table tennis, tennis, and volleyball. What makes these sports more appealing is that they are also Olympic sports.

Where Can You Place a Legal Sports Bet in Malaysia? 

The government has been extra careful in approving more sportsbooks. It also announced that it would only license one sports book operator in every state. This means that there are only six legal Malaysia Sportsbook.

This is a far cry from the thousands of online sports books found in the Philippines or Singapore. The small number of licensed Sports Betting Malaysia means that the odds on your favorite sporting events may not be as good as what you would get from your preferred online Sports Betting Malaysia.

Limitations of Legal Sports Betting in Malaysia

The biggest challenge for legal Malaysia Sportsbook is that they have little or no brand recognition. You will not see them sponsoring a football club or a basketball team. Nor will you see their advertisements on TV. This is because legal sports books operate in a very small market.

Legal sportsbooks are also subjected to a higher tax rate than their illegal counterparts. This means that they have less money to work with on the odds and bonuses they offer.

What Are the Alternatives to Licensed Sports Books?  

There are a bunch of alternatives to legal Malaysia Sportsbook. While you may get to keep what you win, you will also miss out on the good things that come with playing at a licensed Sports Betting Malaysia – like winning prizes and cashback offers! The first alternative to a legal Sports Betting Malaysia is a virtual sportsbook.

Another alternative to a legal Malaysia Sportsbook is sports betting exchanges. Sports betting exchanges allow you to bet against other gamblers instead of a sports book.

Conclusion

Sports Betting Malaysia industry is still in its infancy. However, there are high hopes that it will grow to become as popular as it is in the Philippines or Singapore.

First, you should only bet what you can afford to lose. Second, you should only bet on sports you know. Finally, if you do win, make sure to declare your winnings to avoid trouble with the law.