Official language: Malay
Population: 27,730,000
Currency: Malaysian Ringgit (MYR)

Current Exchange Rate
1 EUR = 5.0114 MYR
1 GBP = 5.3748 MYR
1 USD = 3.3992 MYR

Sports Betting in Malaysia
All forms of sports betting, except horse racing, are against the law in Malaysia. Horse racing was introduced into the country many years ago by the British. Placing wagers on horse races is allowed only on certain tracks, and is strictly controlled and regulated by the Malaysian Racing Association. Wagers can be placed at the Perak, Selangor, and Penang Turf Clubs.

No other forms of sports betting are legal in Malaysia. This means there are no legal Malaysian sportsbooks or bookmakers operating in the country. There is, however, a huge network of underground and black market sports betting in the country. This is a big problem because it often leads to match fixing and other forms of cheating. Millions are spent each year on illegal sports wagers in Malaysia.

Online Sports Betting in Malaysia
Sports betting online is also banned and there are no Malaysian internet sportsbooks. This was not always the case. Ascot Sports purchased a license in 2003 from the Malaysian government to operate an land-based bookmaker. The license was pre-paid for 25 years. Then in 2004 the government changed and the license was revoked. The sportsbook moved to the internet using a license from the Isle of Man. It offered both English and Chinese services. In early 2008, however, the site closed, and no longer offers online sports wagers.

The only option open to Malaysian punters who are looking to bet on sports on the internet is to use large international sportsbooks. Many of these accept players from Malaysia and even offer bets in Ringgit. While the Malaysian government does not like the idea of this, there is not much they can do. They have tried forcing local banks to block transactions to and from foreign online sportsbooks, but the banks are not following the rule, and the money still goes through.