In Malaysia, gambling is illegal. However, there is one form of gambling that is legal, and that is betting on horse racing. Why is this the case? Let’s take a look at the reasons why betting on horse racing is legal but other forms of gambling are not.
History of Gambling in Malaysia
Gambling has been a part of Malaysian culture for centuries. The earliest recorded gambling activity in Malaysia dates back to the 15th century when Chinese settlers first arrived on the shores of Kuala Lumpur. These settlers brought with them a game called “chequers,” which quickly became popular among the local population.
Today, gambling is still a popular pastime in Malaysia. According to a recent survey, almost 60% of Malaysians have gambled at least once in their lives. The most popular form of gambling is 4-digits, also known as “Toto,” which is a lottery-style game that is played every week. Other popular forms of gambling include casino games, sports betting, and slot machines.
Despite its popularity, gambling is not legal in Malaysia. In fact, it is illegal to operate a gambling business in the country. However, this does not stop many people from gambling illegally. An estimated 500 illegal casinos are operating in Malaysia, which generate billions of dollars in revenue each year.
Why Betting Illegal but Betting on Horse Racing is Legal
In recent years, the Malaysian government has cracked down on gambling, making it illegal for Malaysians to gamble in most forms. So why is betting on horse racing still legal? Let’s take a closer look.
Today, gambling is still illegal in Malaysia but with few exceptions. The only legal forms of gambling are the 4D lottery and horse racing. All other forms of gambling, including casino games, slot machines, and sports betting, are illegal.
There are a few theories as to why horse racing remains legal while other forms of gambling are not. One theory is that the Malaysian government wants to avoid alienating the country’s wealthy elites who enjoy horse racing.
Another theory is that the government hopes to use horse racing as a way to generate revenue through taxes and licensing fees. Whatever the reason, it’s clear that horse racing enjoys a special status in Malaysian law.
That’s why betting on horse racing is still legal in Malaysia, even though most other forms of gambling are not. Do you agree with this policy?
How The Government Makes Money from Horse Racing Betting?
In Malaysia, horse racing betting is a popular pastime. Many people enjoy going to the races and placing bets on their favorite horses. What you may not know is that the Malaysian government actually benefits from this horse racing betting. Here’s how they do it.
The Malaysian government taxes all gambling winnings at a rate of 20%. This includes winnings from horse racing betting. So, for every RM100 that is won on a bet, the government will take RM20 in taxes.
This might not seem like a lot, but it can add up quickly. For example, if someone won RM10,000 on a horse race bet, the government would take RM2,000 in taxes. That’s a significant amount of money!
In addition to taxing gambling winnings, the Malaysian government also imposes a 10% levy on all horse racing bets. So, for every RM100 that is bet on a horse race, the government will collect RM10. This levy is used to help fund the Malaysian Racing Association (MRA), which is responsible for regulating horse racing in Malaysia.
As you can see, the Malaysian government benefits from horse racing betting in two ways: by taxing gambling winnings and by collecting a levy on all bets. This money helps to fund the MRA, which regulates horse racing in Malaysia. So next time you place a bet on a horse race, remember that you’re also helping to support the government!
Benefits of Legalizing Gambling in Malaysia
For years, gambling has been illegal in Malaysia. But there is a growing movement to change that, as many people have come to realize the many benefits that legalizing gambling would bring to the country. Here are just a few of those benefits.
1. Tax Revenue
The Malaysian government could generate a significant amount of tax revenue by legalizing and regulating gambling. This revenue could be used to fund important public services like education and healthcare.
Legalized gambling would also create new jobs in Malaysia. From casino workers to security guards to administrative staff, there would be a wide range of new employment opportunities created by the legalization of gambling.
3. Economic Stimulation
Gambling can also stimulate the economy by attracting tourists from all over the world to come and gamble in Malaysian casinos. This influx of tourist dollars would benefit not just the casinos but also hotels, restaurants, and other businesses in the tourism industry.
4. Crime Reduction
Illegal gambling is often associated with crime, as people who are desperate to gamble may turn to criminal activity to get their fix. Making gambling legal would help reduce crime rates in Malaysia as people would no longer need to resort to illegal means to gamble.
5. Safe and Regulated Gambling Environment
At present, many Malaysians gamble online or at illegal casinos, which puts them at risk of being cheated or robbed. By contrast, legal casinos are heavily regulated and monitored by the government, so gamblers can be sure they’re getting fair game. Moreover, legal casinos must adhere to strict safety standards to protect both employees and customers from COVID-19.
These are just a few of the many reasons why legalizing gambling in Malaysia would be a positive step for the country. With the potential for increased tax revenue, new jobs, economic stimulation, reduced crime rates, and a safe and regulated gambling environment, it’s clear that gambling could have a very positive impact on Malaysia if it were legalized.
Trusted Online Casinos to Gamble
Horse race betting is a popular gambling activity in Malaysia. There are many online casinos that offer horse race betting, but not all of them are trustworthy. In this blog post, we recommend three trusted online casinos where you can safely gamble on horse races.
1. Juta88 Casino
Juta88 is an online casino that is licensed by the Malaysian government. This means that they are a reputable and trustworthy gambling site. They offer a wide variety of horse racing bets, as well as other casino games such as slots and table games. You can be sure that you will be able to gamble safely on their site.
2. Judaking88 Casino
Judaking88 is another trusted online casino in Malaysia. They also offer a wide variety of horse racing bets, as well as other casino games. You can be sure that your money is safe on their site, as they use the latest encryption technology to protect their customers’ data.
3. Epicwin Casino
Epicwin is a trusted online casino in Malaysia that offers a wide variety of slot games, as well as other casino games such as slots and table games. You can be sure that you will be able to gamble safely on their site.
These are three trusted online casinos where you can gamble safely. Be sure to check them out if you’re interested in horse race betting online!
- Why is betting illegal in Malaysia but not on horse racing?
The reason for this distinction is that the Malaysian government allows horse racing to take place under strict regulations and supervision. However, other forms of gambling are seen as potentially harmful to society and therefore are outlawed.
- Is betting on horse racing safe in Malaysia?
As mentioned above, the government closely oversees horse racing. However, it is important for individuals to also exercise caution and make informed decisions when placing bets.
- Can foreigners participate in horse racing betting in Malaysia?
Yes, foreigners are allowed to participate in horse racing betting as long as they follow the same regulations and requirements as Malaysian citizens.