People love sports, and people also love winning. It is innate for humans to feel competitive every once in a while. And because of that, it is no longer a surprise why sports betting Malaysia will never be gone from our lives. People in-born competitiveness is probably one of the reasons why sports betting is one of the most well-loved pastimes of many people. And no one can blame them. Who would not want to have some fun while earning money?
This game is so well-loved that many bookmakers have also resorted to using the internet for online sports betting. Because this way, more people will be able to participate and place their bets on their chosen group from their chosen sport.
Many people engage in online sports betting in Malaysia for various reasons. One is being able to take your winnings tax-free. The government only taxes licensed casinos and operators 25% of all revenue earned. This allows players to take home their winnings without being taxed.
Online betting is currently illegal in Malaysia. However, bettors can easily get around this by playing in live casinos or resorting to parimutuel horse racing. They can also bet through foreign sportsbooks and casinos since the government only focuses on makeshift betting houses and sportsbooks.
However, the government is currently mulling a law to legalize online gambling in the country. They are considering legalizing online betting by issuing licenses for online casinos. Through this, these betting houses will be taxed. This law is meant to protect gamblers from being scammed by unsafe and scam betting sites.