Is betting with online bookmakers like Betfair, Betfred, Ladbrokes, etc legal for a Malaysian citizen (resident in Malaysia)? These are UK-based online bookmakers where one can open an account online, fund one's account and bet online? If it is legal, are the profits taxable by the Malaysian government? If there are profits, does one need to declare the profits made for income tax purposes when remitted from UK to Malaysia?
Some times there are news of the Malaysian police shutting down illegal bookies (either based locally in Malaysia or online). How about betting online with bookmaker mentioned above who are legally recognised in UK (ie not illegal bookies in UK)?
Is betting with online bookmakers legal for a Malaysian citizen?
Hi I have an user in Betfair and I checked. They accept payments from credit cards from Malaysia so that means that everything is legal. I dont think your profit is taxable. In my country noone taxed me for this and I bet from 1 year. If you register at Betfair if you want use my code ANGMRGLHE Its for 50 $ bonus.
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