The Gaming and Lottery Commission (GLC) have announced that the first ever online random number generator will be implemented in Malaysia from 2020. This comes as good news to Malaysia’s online gaming and gambling industries which had been suffering a lot from the recent nationwide real estate boom. Real estate experts predict that there will be an exponential growth in the online gambling industry in the coming years in Malaysia. “The new laws on the gambling and lottery will really boost the online casinos here in Malaysia,” said Lim Sweeung, General Manager of the GLC.
The GLC has approved the online casino gaming license applications of two out of three online casino operators. Among the approved sites is the Malaysia Exchange, which plans to bring Malaysia casinos to its brand new casino table located at the Singapore International Trade Centre. The slot and casino games offered by this new casino table will feature the highly-rated casino software and will include progressive slots, roulette, blackjack, baccarat, and other games. A deposit bonus 50% of the initial deposits will be given to players who sign up and make deposits during the first two months of operation.
Another approved operator is the Lanai Resort and Casino Complex, which are planning to introduce an integrated system with slot machines, roulette wheels and electronic payment processing using the Fastime payment scheme. This new system will allow players to use their debit and credit cards as a method of payment. A special lottery code number will be used for each game and the code number is published on the lottery ticket. Players can purchase these tickets at any Lanai Resort and Casino outlet located across Malaysia. These outlets are approved by the GLC.
The third operator approved for the online casino games in Malaysia is the Silver Sands Online Casino. The Silver Sands offers a variety of casino games including online blackjack, baccarat, craps, slots, and video poker. This operator is accredited by the Malaysian Lottery Commission. The lottery code number is printed on the back of each ticket. In addition, this operator offers other services, such as free casino gambling software and customer care services.
Operators in the Marina Bay Sands and Universal Studios Theme Parks are authorized by the Universal Studios Resort. The operators of these two theme parks will offer a wide variety of casino games, live entertainment and food. These operators are accredited by the Malaysian Lottery Commission. The Universal Studios Resort offers its guests free entrance into the various themed areas and this is done by scanning the loyalty card which is provided by the resort. It is a one time process and the card is valid for twenty-four hours.
A license is not required by any operator when it comes to online casino tax liability in Malaysia. This is because online gambling is not considered a place of business by the Malaysian government. Therefore, operators have no legal obligations to the government concerning payments of taxes to the government. The only obligation that they have is to pay their customers on the agreed payment schedule. However, these operators should contact the Department of Revenue so that they can make arrangements for tax payment to the Malaysian authorities.
A casino in the coastal region of Sabah has been licensed by the Malaysian Internal Revenue Department. The operators of this casino are required to file the annual consolidated return and pay the tax liability to the government on a yearly basis. This is one of the few operators in Malaysia that are licensed to operate online gaming. A Casino in this area can be easily accessed through a direct connection to the World Wide Web.
There are also a number of operators in this area, that have set up their own websites. Some of these operators have developed their own gambling software that enables their customers to enjoy their online gaming experience without having to worry about paying the tax liability. Others have also resorted to developing their own offshore gambling software that enables players from around the world to enjoy their online gaming experience and pay their taxes without being required to travel a long distance. For operators in Malaysia that resort to online gambling, it becomes easy for them to avoid paying the tax that the government requires its operators to pay.