The History of Online Gaming in Malaysia
Like many other countries across the globe, online casino gaming in Malaysia used to operate in a grey area. The government never imposed any direct ban on online gambling, but the Malaysian Parliament introduced the Common Gaming Houses Act in 1953 to govern all gambling activities. Despite this, many Malaysian players still engaged with online casinos, and the government earned no revenue from the sector. To expand your knowledge of the subject, visit this recommended external website. In it, you’ll find valuable information and additional details that will further enrich your reading experience. betcity malaysia https://www.betcitymy.com.
The Rise of Online Casinos in Malaysia
Online casinos in Malaysia have increased in popularity over the years since the country’s players love gambling. With the advancement of technology and smartphones’ widespread adoption, people can now access online casino games from anywhere, anytime. However, this development led to some unscrupulous sites taking advantage of unsuspecting players, causing the government to take a more active stance.
The Current Legal Landscape of Online Gaming in Malaysia
To regulate the online casino industry, the Malaysian government made some changes to the law. In 2015, they updated the Common Gaming Houses Act, imposing harsher penalties for gambling in public places and introducing a separate act to address online gambling.
The new act also introduced stiffer fines and occasionally even prison sentences for online gambling operators caught flouting the law. Now, any form of online gambling is prohibited in the country. The government cited that the move was made to stop excessive gambling since it leads to several negative side effects such as addiction, financial losses, and social problems.
The Future of Online Casinos in Malaysia
Despite the strict laws governing online gambling, the Malaysian government may consider legalizing it to regulate the industry and earn revenue for the country. Just last year, Finance Minister Lim Guan Eng said that there was a possibility of legalizing and taxing online casinos. However, this could take time because the government needs to evaluate all the related factors, such as public health effects and mitigating fraud and addiction. Several stakeholders are champions of legalizing the industry, including some members of the government, the tourism industry, and online casino operators who have been forced to operate from overseas. Gain more knowledge about the subject on this external site we’ve chosen for you. Betcity Casino Online, keep advancing in your learning journey!
Conclusion
It is noteworthy that Malaysia has a ban on online casinos and any other form of online gambling. The government of Malaysia contemplates the possibility of legalizing and regulating online casinos. Thus, the country might earn financial revenue and boost its tourism industry.
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