By: Kajal Sundaram
Online Casinos: An Introduction
When it comes to the manner in which we choose to spend our money, there will inevitably come a moment when we will need to exercise caution with our finances and when we will require improved financial management.
One needs to discover other means to make a profit every once in a while, and this is one of the most significant reasons why people gamble in this day and age. In essence, when controlling our finances isn't really an option, one needs to find other ways to generate profit.
This is why a number of people turn to online gambling, one of the biggest current markets of this day and age.
What the Online Casino industry essentially entails, is that it offers a number of casino games that one would find at a regular, land-based casino, however with one big difference. Instead of having to spend time changing, driving, and heading to a regular, land-based casino, one can merely partake in these games from the comfort and safety of their own home.
This is a heavy contributor to the quick rise in popularity of online casinos, as it entails that not only can one not have to show up physically to a land-based casino but one also can play with people around the world. And one place around the world where online casinos are getting more and more popular in Malaysia. But why is this market suddenly skyrocketing at this point in time?
Within this article, I will be going over the rising market of Online Casinos within the region of Malaysia, examining their legal systems, as well as explaining what has led to this steady rise of players in the Malaysian Online gaming industry.
The Appeal Behind Online Casinos Within Malaysia
Even though local casino gambling is frowned upon within the Islamic religion, Malaysia still has access to all the casino games you would find in a place like Las Vegas. The most popular form of gambling in a country like this is the use of offshore casino websites. Since brick-and-mortar casinos suffer from high scarcity in Malaysia, people who want to play will go for the next best thing. The closest you can get to an actual real-life casino is through live dealer games, that are found amongst some of the most popular live casinos
The legislation that governs gambling in Malaysia is one of the primary reasons for the limited availability of this form of entertainment inside the country.
The law in Malaysia makes it illegal for citizens and visitors to participate in any form of gambling. There are, nonetheless, certain exceptions to this rule for those who are not of Muslim descent. These exceptions, however, are relatively restricted and are not even close to being as common as one might believe they are. As a direct consequence of this, the gaming industry is not very robust because there are not an excessive amount of opportunities. The Genting Highlands Hotel and Resort, one of Malaysia’s biggest tourist attractions, in addition to pari mutuel horse racing betting, are two of the few that are still in operation today.
This would therefore encourage a huge number of individuals in Malaysia to flock to online casinos in order to enjoy the same thrill and excitement while playing from the comfort of their own homes. This would be the only way to satisfy their need to gamble.
So one can easily say that the main reason why the online casino industry is soaring within Malaysia today, is due to the overall scarcity of gambling within the region.
A Brief Look at Malaysia’s Legal System in Regards to Online Gambling
Despite the fact that most types of internet gambling are not regulated nor authorized in Malaysia, a great number of big online casino sites outside of Malaysia cater to Malaysian gamers, and players may win big and play to their hearts' content at these casinos.
Malaysian law is a blend of Common law and Religious law. These rules outlaw all gaming, with an emphasis on Muslims, as gambling is considered Haram and against Allah. Most non-Malaysians however, can gamble legally.
The Common Gaming Houses Act 1953 and The Betting Act 1953 govern betting house patrons, owners, and gamblers. These rules control internet gambling in theory, yet haven't been updated in a while and don't specify the punishment.
Since offshore gambling sites are not subject to Malaysian legislation, Malaysians are essentially free to wager at them.
So, with all this being said, what are the main reasons why Malaysia’s online gambling sector has skyrocketed into what it is today? Well, first one must take into consideration the number of advantages in regards to the convenience which online casinos bring to the table.
Another thing one must keep in mind, is the scarcity of gambling in Malaysia, compared to how accessible online casinos are. Finally, there is the ambiguity of the Malaysian laws, which in truth give the public an opening to gamble online due to their massive ambiguity.