Looking to wager safely online from Malaysia? Thankfully in this article, we will be going over how you can gamble online safely while in Malaysia, what are e-wallets, e-wallet casinos and more
What Are E-Wallets?
To start off let’s first discuss what exactly is an E-wallet. The term “e-wallet” refers to a specific form of an electronic card that can be used for making purchases online via a computer or a mobile device. It can be used much like a debit or credit card and it’s not possible to make purchases with an E-wallet unless it is connected to a bank account.
In essence, it’s a digital wallet, that allows its owner to keep their money safe and accessible in any future digital exchange. They are also password protected and they can be used to purchase anything whether groceries or plane tickets.
Why Use An E-wallet To Gamble In Malaysia?
To fully understand why it’s recommended to make use of an E-wallet when using casinos in Malaysia one must first understand the gambling laws.
In Malaysia, gambling laws are severely outdated, but this is indeed a positive for gamblers, more on this later. Gambling in Malaysia is strictly illegal for the most part, although this is mostly true due to the country being mostly Muslim. This means under sharia law gambling is considered a sin.
That being said Malaysia does have a luxurious casino, licensed by the ministry of finance so how exactly does all this work? Gambling in a common house like your typical home is strictly illegal and police can bust into the home without a warrant if suspected gambling is taking place, similarly, you cannot play gambling games in public even if you’re not playing for money.
In essence, if you wager with physical peanuts in a public space you are still likely to be arrested.
How Do You Gamble Legally In Malaysia?
You have two main options to gamble legally in Malaysia, the first is visiting the licensed casinos but these could be quite the travel or you could wager online. But didn’t we just state that it’s illegal to gamble in your home or in public?
That’s right except for the fact that Malaysian law is so old it does not account for online gambling which means you can use e-wallet friendly online casinos without fear of prosecution so long as you do it in a private space. Gambling in public is frowned upon and to avoid any trouble with local authorities we recommend keeping the gaming to private spaces.
We recommend e-wallet-friendly casinos for a simple reason, they’re safe and require no further details to be shared between you and said casino site. Since most-wallet friendly casinos are operated offshore there is no way local authorities can legally prohibit you from wagering at a said site unless in a public space, that being said it’s better to play on the safe side and use e-wallets to help keep your data shared online to a minimum.
Why Use E-Wallets
E-wallets are rapidly becoming the preferred way of payment among online casino gamers. As a first point, know that electronic wallet use is totally secure. When making a purchase with an e-wallet instead of a credit card, the gamer is not forced to reveal their card information.
Instead, just enter the username and password to log in. Sensitive data can also be safeguarded through the use of encryption technologies. E-wallet casinos in Malaysia make it possible for customers to make instantaneous deposits and withdrawals. Electronic wallet payments are typically faster than traditional payment options and are very user-friendly.
Particularly true for cash-outs. The typical withdrawal processing time is just 24 hours. Most other choices would take between two and five business days. In addition to these advantages, most electronic wallets also cost less to employ. There are typically no hidden fees, so players can keep the whole amount of their transfer.
So what exactly are E-wallet casinos? Well, essentially e-wallet casinos are your typical online casino except they also accept e-wallet payments. Essentially all the best online casinos can be considered e-wallet casinos since most will accept multiple payment methods including e-wallets.
E-wallets seem to be one of the most preferred payment methods when it comes to online casinos or online payments in general. This is mostly due to banks constantly scoring their client’s money use. Some banks have even denied loans to people who have placed a singular sporting wager let alone casino fun.
E-wallets don’t seem to be going anywhere and recently Asian banks look to create a common contactless QR payment zone in hopes to give a bank alternative to e-wallets in certain areas. Although unlikely to replace E-wallets it’s clear banks are feeling the pressure from these wallets and perhaps in the future will look to be less strict with how they monitor their clients.