Esports betting Malaysia has been on the rise in recent years, with more and more people looking to get involved in the industry. However, there is still a lot of confusion surrounding the legality of esports betting Malaysia. In this blog post, we will attempt to clear up some of that confusion and help you understand the legal landscape of esports betting Malaysia.
What is Esports Betting?
Esports betting is the process of placing a bet on the outcome of an esports match. Esports is short for electronic sports, and refers to competitive video gaming. Malaysia is one of many countries where esports betting is legal.
The global esports betting market was valued at $12.9 billion in 2020, and is expected to grow to $19.7 billion by 2025. This growth is being driven by the increasing popularity of esports, as well as the legalization of online gambling in many jurisdictions.
Esports betting offers punters an exciting way to engage with their favourite games and players. With so many different types of bets available, there’s something for everyone. So if you’re looking for an exhilarating way to gamble, be sure to check out esports betting Malaysia!
The Legality of Esports Betting in Malaysia
Since its inception, the Malaysian government has been increasingly supportive of the esports industry. In 2019, the Malaysian Communications and Multimedia Commission (MCMC) launched the first ever national esports policy. The policy aims to promote and develop the esports industry in Malaysia, with a focus on three key areas: talent development, industry advancement, and international collaboration.
As part of its efforts to support the growth of esports in Malaysia, the MCMC has also been working with various stakeholders to promote responsible gaming practices. This includes providing guidance on age-appropriate content ratings for local esports events, as well as working with event organisers to ensure that all participants are aware of responsible gaming practices.
The MCMC’s efforts to promote responsible gaming in esports extends to betting on esports matches. In 2018, the commission released a set of guidelines on sports betting, which included a section on betting on esports matches. The guidelines stated that all forms of sports betting are illegal in Malaysia unless they are authorised by the government.
This means that any form of online or offline betting on esports matches is currently illegal in Malaysia. This includes skins betting, where players bet virtual items such as weapon skins from popular first-person shooter games like Counter-Strike: Global Offensive (CS:GO).
The illegality of betting on esports matches in Malaysia may deter some people from participating in this activity. However, there are still many Malaysians who engage in illegal sports betting, including bets on local and international esports matches.
According to a report by the Malaysian Digital Economy Corporation (MDEC), the illegal sports betting industry in Malaysia is worth RM13 billion (US$3.1 billion). This includes bets placed on traditional sports like football and badminton, as well as esports matches.
The report also found that there are an estimated 1.2 million illegal sports bettors in Malaysia, with most of them being male (88%) and aged between 21 and 30 years old (54%).
While the MDEC’s report does not provide specific data on how much is bet on esports matches in Malaysia, it is clear that there is a significant amount of money involved in this activity. This is likely to attract the attention of organised crime groups, who may look to exploit the illegal sports betting market in Malaysia.
The MCMC’s guidelines on sports betting state that anyone caught engaging in illegal sports betting can be fined up to RM100,000 (US$24,000) or jailed for up to five years. However, it is unclear how often these penalties are imposed, or if they act as a deterrent for people who engage in this activity.
Given the illegality of esports betting Malaysia, it is not surprising that there are no licensed esports betting operators in the country. This means that there are no legal options for Malaysians who want to bet on esports matches.
This may change in the future, as the Malaysian government has been increasingly supportive of the esports industry. In 2019, the MCMC launched the first ever national esports policy, which includes a focus on developing the esports industry in Malaysia.
If the Malaysian government decides to legalise esports betting Malaysia in the future, this could create opportunities for licensed operators to enter the market. This would provide a legal and regulated option for Malaysians who want to bet on esports matches.
However, it is important to note that the Malaysian government has not announced any plans to legalise esports betting Malaysia at this time.
Where to Bet on esports in Malaysia?
There are three main places to bet on esports in Malaysia: online sportsbooks, brick-and-mortar casinos, and dedicated esports betting Malaysia sites.
Online sportsbooks offer the most convenient way to bet on esports. All you need is a computer or mobile device and an internet connection. You can find plenty of reputable online sportsbooks that accept Malaysian players, such as Betway, 1xBet, and 22Bet.
Brick-and-mortar casinos also offer esports betting, although the selection of games and markets may be more limited than what you’ll find online. The best place to find casinos that offer esports betting Malaysia is in Kuala Lumpur. Some of the most popular casinos include Resorts World Genting, Sunway Resort Casino, and Maxims Club.
Dedicated esports betting sites are another option for Malaysian players. These sites are purely focused on esports betting and usually have a more extensive selection of games and markets than traditional online sportsbooks. Some of the most popular dedicated esports betting sites are Unikrn, Rivalry, and Vulcun.
Though esports betting Malaysia is still in a grey area when it comes to the law, there are ways to bet on esports legally. With the right understanding of the legal landscape and some caution, you can safely place bets on your favourite teams and players. We hope this article has helped clear up some of the confusion surrounding esports betting Malaysia and that you’ll be able to place your bets with confidence.