MYR – Malaysian Ringgit Casinos 2020
Playing Malaysian ringgit online casinos may or may not be safe, secure, and lucrative depending on the gambling hub you choose. Though predicted to be a key player in the digital gaming industry in the nearest future, Malaysia is outdated in terms of gambling laws and regulations. In fact, all three documents regulating the field were issued in the middle of the XX century and haven’t been updated since 2006.
Finding an MYR casino is a no brainer, but only international betting institutions registered out of Malaysia can be considered a safe choice. We have compiled a list of the most reputable Malaysian casinos that accept MYR so that you can navigate through it to choose your beloved gaming destination.
Below you will find useful recommendations on deposits and withdrawal options, as well as on choosing the best site that accepts MYR. Play safe and with any depositing problems in one of the manually selected casinos!
Best Online Casinos with MYR – Malaysian Ringgit
How to Gamble with Malaysian Ringgits?
Trading at the rate of 1 MYR to 0.24 USD, the official Malaysian currency has proved to be resistant to surges and therefore is bound to overcome the lasting pressing from the dollar. However, playing with MYR at Malaysian ringgit online casinos is not that simple unless you are okay with gambling at illegal Malaysian ringgit casinos.
The country is reluctant to update the gambling niche. Malaysian gambling is still regulated by the outdated Betting Act of 1953, which has only 7 amendments with the last one in 2006, the Lotteries Act of 1952, and the Racing Act of 1961. According to these documents, the only legal forms of gambling in Malaysia are land-based lotteries and horse racing. Online gambling is not regulated at all.
Given the Betting Act of 1953 outlaws all forms of gambling in Malaysia (except for the two mentioned ones), whereas the Malaysian Constitution imposes Islam religion on all Malays, we can safely say that the only legal local place to gamble is Resorts World Genting – a gigantic hill resort located within an hour drive from the national capital Kuala Lumpur.
That said, gambling online with Malaysian ringgit is safe when you are dealing with an international Malaysian ringgits online gambling site registered in an offshore gambling-friendly country. Any local MYR casino is illegal, and you won’t be able to litigate if it evaporates with your money. We have manually checked the best online casinos that accept Malaysian ringgit. The majority of them are not registered in Malaysia and subject to the gambling laws of third-party countries where gambling is legal.
What are the Payment Methods for MYR Casino Deposits?
Despite the sharp economic rise that Malaysia has undergone in the last decades, it is still not considered a developed country. The emerging economy of Malaysia has long been relying on the natural resources to lead gas and consumer goods exports to more developed countries. 45% of Malays still prefer prepaid cards to credit cards (11%), e-wallets (6%), and wire bank transfers (3%). Surprisingly, every third Malaysian uses mobile payments (35%).
Whether you’re paying with VISA, Mastercard, or Amex, you are choosing safety and security over privacy. Note: when paying with a credit card, you’re disclosing your personal information, which may not be desirable if you’re gambling at an illegal online casino MYR. To check if the credit card payments are safe in the particular casino, look for the supported payment methods or contact customer support for recommendations.
Typically, a credit card deposit comprises:
- Connecting your credit card to the casino account (we don’t recommend you to use an offline institution to deposit to Malaysian casinos, as, in fact, online gambling in Malaysia is not regulated/forbidden).
- Submitting the payment and waiting for the payment approval.
In any local Malaysian online casino Malaysian ringgit are supported, but better look for the recommended international gambling hubs to avoid issues with payments in Malaysian ringgit casinos.
A scratch card is a plastic card with a disposable code used for depositing money into a casino that accepts MYR. According to the statistics above, most casino deposits using Malaysian ringgit are made via scratch cards, so it’s a time-tested and safe method.
When choosing a scratch card over other payment options, you sacrifice the deposit amount in favor of privacy: a scratch card is limited to a few hundred dollars. Most local gamesters are fine with scratch cards since they are low-bettors, whereas high-rollers look for e-wallet options or bank transfers.
Though only 6% of Malays use e-wallets, we can assume that many of them are medium- and high-budget players. The most popular Malaysian e-payment systems are EcoPayz and Neteller. Both e-wallets don’t require a bank account or credit check to deposit and gamble with MYR, and you can withdraw at ATMs.
How to Make Casino Deposits with MYR Currency?
The specificity of depositing with Malaysian ringgit and withdrawing with Malaysian ringgit depends on the particular casino. If you are going to make an international payment, make sure the required gateway is supported and you understand the fee system.
To deposit to a Malaysian ringgits casino, you will have to:
- Register an account in the casino.
- Check if the preferred deposit method is available (if not, use one of the alternatives or contact customer support for recommendations).
- Interconnect your casino account and your payment system (fill in your bank/e-wallet details, or type the digital code from the scratchcard).
Now you are ready to complete the payment in your favorite casino MYR!
What are the Benefits of Gambling with Malaysian Ringgits?
Online gambling with Malaysian ringgit on betting sites accepting MYR is not only safe and secure but also saves you the fees that you would be charged if exchanging third-party currencies to MYR. Apart from the commission, you can partake in special promotions. Any reputable Malaysian ringgit casino tries to encourage local gamblers to play with Malaysian ringgit by introducing deposit bonuses and other perks; illegal institutions are ones to steer clear of.
Malaysian Ringgit Casino FAQ
- 🔸 Is paying with Malaysian ringgit different from paying with other currencies?
- If you are playing with Malaysian ringgit in one of the legit Malaysian casinos, you can get the following bonuses:
- Welcome bonuses provided to players that deposit in MYR. Welcome bonuses may be fixed or vary depending on the deposited amount.
- Reduced fees compared to deposits involving currency exchanges.
- Other bonuses occasionally popping up in casinos.
It is worth noting that most legit casinos accepting Malaysian ringgit are international institutions with plenty of deposit options. Make sure you are aware of extra fees if you need to convert currencies.
- 🔸 Am I obliged to pay with MYR?
- MYR is not an obligatory payment option but one of the numerous deposit and withdrawal methods available in Malaysian casinos. Note that MYR to MYR transactions are typically charged with smaller fees than, for example, EUR to MYR or USD to MYR transfers. The amount of extra fees is regulated by the payment system and the casino, which may or may not charge additional fees for the currency exchange. To learn more about the commission policy of the casino, contact the customer support.
- 🔸 Will I receive bonuses for paying with MYR?
- Yes, you can take advantage of bonuses that occasionally available in MYR-driven Malaysian casinos. Typically, those are welcome bonuses accruing awards to firstcomers. A welcome bonus can be of up to 200% of the deposited amount. However, it cannot be withdrawn until you fulfill the special requirements established by the casino (e.g. play a certain number of real-money games). Bonuses may be connected to holidays, weekends, global events, sports events, etc.
- 🔸 Are any fees applied when paying with a credit card or online payment system?
- Fees are applied to transactions made via e-payment systems or credit cards. Extra fees are often charged by the bank operator or e-wallet when you exchange the source currency (say, USD) to the target currency of your online casino (say, MYR). Not all e-payment systems support all currencies.
- 🔸 Is there a possibility to convert other currencies to pay with MYR?
- You can convert other currencies to pay with MYR. However, the conversion is not required if the currency that you want to deposit is among the supported payment options by the casino. For example, if you are willing to deposit with dollars, you don’t need to convert them into MYR to play in Malaysian casinos, as all casinos support USD. The conversion would be superfluous unless you are firmly determined to play with MYR.