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Pros and Cons of Betting in Malaysia ( Infographic )

Many Malaysians love watching and betting on sports, especially football. Many people engage in online sports betting in Malaysia to the point that it’s become so popular even though it’s illegal. Fortunately, the Malaysian government is only focusing on makeshift betting shops and sportsbooks instead of individual bettors.

Both sports bettors and casino gamblers only need to look for a trustworthy online betting site or online casino to get started on betting. However, some people may still have reservations about gambling because they think it’s a great way to lose money. We have a list of pros and cons of betting in Malaysia that can help people make up their minds whether to bet or not.

Pros and Cons of Betting in Malaysia

Pros of Betting

Gamblers can Win Big

The biggest reason people want to gamble is that they can win money without working for it. As long as people have a betting budget, they can stake it and have a chance to double it or make a little extra after placing several bets.

Winning a jackpot through online slots in Malaysia or winning in parlays or the outright betting market is also possible. Both gambling and sports betting aren’t wholly dependent on luck, and bettors can use different betting systems and strategies to improve their chances of winning.

Betting is Fun

Betting on sports and playing casino games is fun because of different reasons. Sports betting is fun because sports fans can watch their favourite teams live WHILE showing their support by betting on them. Playing casino games is fun because gamblers ARE playing a game while also having a chance to make money, especially if they do make money.

Many people also simply place bets as a form of entertainment and treat their losses as the cost of having fun, and not being certain on whether a bet will be successful or not can be quite thrilling for many gamblers.

Many Different Betting Options

Anyone can place bets, and they can look around for the right games for them easily when betting through an online casino. Bettors can play different games like baccarat, blackjack, roulette, and slot machines or bet on pari-mutuel horse races in Malaysia or look for an offshore sportsbook for other sports betting options.

More strategic bettors can look for live blackjack, baccarat, or sports betting events. Those who depend on luck can look for RNG-based games, especially slots.

Bettors Aren’t Taxed on Their Winnings

Malaysia is a paradise for bettors and gamblers because they won’t have to worry about their winnings getting taxed. The government taxes licensed casinos and operators 25% of all revenue earned, allowing bettors to go home with all of their tax-free winnings.

Cons of Betting

A Chance to Lose Big

Playing casino games and betting on sports have an inherent risk of losing money, especially when people stake high. Many bettors also tend to practice gambler’s fallacy and chase after their losses since they think that they’re due a win.

Many people also place bets without knowing anything about the sports events they’re betting on. Others gamble without knowing the right time to hit, stand, surrender in blackjack.

Sports bettors who bet on parlays also risk losing big when they’ve already racked up big winnings only to lose it all on a failed bet on the last leg.

Betting is Addicting

Many bettors enjoy betting since it’s both fun and profitable. Such bettors may find that they’re already betting too much and are staking high per bet. They can end up going bankrupt after losing repeatedly or make bank if they’re extremely lucky.

Online football betting is prevalent in Malaysia. Bettors may place multiple single bets in different matches or multiple times on a single match through different sportsbooks.

Once bettors lose control of their betting habits and start getting addicted, they’ll likely begin to lose a lot more money than when they’re betting casually.

Generally Illegal in Malaysia

We mentioned above that betting is illegal in Malaysia, but bettors can get around this by playing in live casinos or simply resorting to parimutuel horse racing. Bettors can also bet through foreign sportsbooks and casinos since the government is focusing its crackdowns on makeshift betting houses and sportsbooks.

However, Malaysia is currently mulling a law to legalise online gambling in the country. Online gamblers bet through foreign casinos and sportsbooks operating in Thailand, India, and the Philippines. Malaysia will want to legalise online gambling by issuing licenses for online casinos to tax them and help gamblers from getting scammed by unsafe betting sites.

Conclusion

Betting has different pros and cons, and bettors don’t need to suffer from the cons as long as they have control over their betting habits. If bettors don’t treat gambling as a primary source of income, then they have a chance to avoid suffering from heavy financial losses.

Malaysian bettors can easily take advantage of low house edge casino games and profitable odds when registered in a trustworthy casino in Malaysia. They can register in CM2Bet and see our selection of games and betting options offered by our reliable selection of sportsbooks, like CMDBet.

Register now and start betting with us.

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