Best Payment Method for Malaysian Casinos

The regulatory environment of gambling in Malaysia restricts consumer markets to just lotteries, horse racing, and casino games. This means that all online betting operations are prohibited in the country, but there are ways for Malaysians to bypass these restrictions.

Offshore betting sites are an excellent option for consumers in restrictive regions. Many offshore operators provide a secure way for bettors to access casino sites in Malaysia. Online betting expert Pride Kazunga explains that external licensing ensures sites must adhere to the rules and regulations of where they operate.

A wide selection of games, improved accessibility, bonuses, and a choice of payment methods make it easy for Malaysian bettors to find the perfect site for them.

The Top Malaysian Casino Payment Methods

The payment methods made available by betting site operators can make a big difference in how easily players can deposit and withdraw money. A wider selection can also provide ways for bettors to save money on transaction fees and exchange rates. The following payment methods are some of the most popular options available at Malaysian betting sites.

Card Payments

The most popular payment method available at online casinos is traditional card payments. These options allow users to use credit or debit cards to make payments, and many options allow users to store card details on-site to make it easier for future payments.

However, card payments can incur fees from suppliers and withdrawals can take as long as 7 days to clear. Payments to international sites can often result in poor exchange rates meaning consumers can see their stake money or winnings cut into.

DuitNow

The DuitNow payment method is a Malaysian money transfer service that makes it easier for players to carry out bank transfers without incurring fees. Authorization for transactions requires mobile telephone numbers or an NRIC number, improving security.

DuitNow was launched in 2018 and is supported by the majority of Malaysian banks including HSBC, RHB, Maybank, and UOB. The registration process is only required for consumers who want to withdraw funds.

The service is free of charge for consumers who receive sums up to RM5,000 and a small charge of RM0.50 is applied to transactions that exceed this amount. However, in some cases, participating banks will waive this fee.

Touch’n Go

Touch’n Go is a Malaysian digital wallet that has gained 15 million users since launching in 1997. The service is primarily a contactless smart card system that facilitates quick, contact-free payments for toll roads and other transportation payments. 

The TNG eWallet was launched in 2017 and heralded the company’s entry into the fintech world, providing secure digital payment options for its users.

GrabPay

There is a wide selection of exclusive payment options for Malaysians and GrabPay is the option provided by Bank Negara. The service uses 2-factor authentication to provide users with a secure way to spend online. A dedicated app for this mobile-only payment service helps its users manage their finances.

Help2Pay

Consumers who want to keep their bank details private can use Help2Pay which provides a secure gateway between banks and casinos. The casino doesn’t receive bank details, protecting against data theft, and withdrawals can be completed in hours.

Crypto

Cryptocurrency payments are growing in popularity because of the benefits it offers. Its peer-to-peer transactions make it one of the fastest ways to complete or receive payments, and users won’t need to deal with exchange rates.

Blockchain technology provides greater transparency for consumers, and its immutable nature ensures transactions can’t be altered. Most casinos that accept cryptocurrencies will focus on well-established options like Ether