Casinos & Gambling Industry in Macau
Known as the Monte Carlo of the East, Macau is considered the world’s Gambling Capital. The Gambling industry in Macau has been rapidly growing since it was allowed in the 1850s. Casinos are considered legal in this Special Administrative Region of China. The gambling industry in Macau is divided into four categories. Namely, casino games, lotteries, sports betting, and greyhound racing. On the other hand, online gambling is limited in Macau at the moment.
The gambling industry in Macau started as a way for the region to generate revenues for the government. The Portuguese Government legalized this back in 1849. Later, the government introduced a licensing system for Chinese Gambling Houses, also called Fantan Houses. The government required these establishments to pay gambling rents. It was reported that over 200 gambling houses paid gambling rents.
Western-style gambling was later introduced by the Sociedade de Turismo e Diversões de Macau (STDM) in 1962. Despite its transfer to the People’s Republic of China in 1999, the gambling policy in Macau was maintained. The economy of Macau has been heavily relying on gambling. It was reported that the gambling industry makes up over 40% of the GDP of Macau.
Despite being its source of revenue, it’s also the source of instability in its economy. Since the gambling nature isn’t prone to productivity growth or advanced technology, Macau falls behind in these terms. This was evident during the pandemic when online gambling became more prominent due to the pandemic. Its revenue had a 56% decline, and monthly visitors fell from 3 million to fewer than 1 million.
Online Gambling Laws in Macau
Macau is well-known for its gambling industry. Casinos are considered legal in this region, and the gambling industry has been a great help in generating revenue for the government. The only thing that holds them back is their limitations regarding online gambling. According to Macau’s gambling laws and regulations regarding online gambling, there are no laws and regulations.
Under Law no. 16/2001, the gaming concessionaires aren’t allowed to operate interactive games of chance and fortune. Therefore, online gambling isn’t considered legal in Macau. If you want to consider remote gambling, the only options are sports lottery and pari-mutuel horse racing. These are exclusively offered by the Macau SLOT and Macau Jockey Club.
On the other hand, players in Macau are free to access overseas online gaming sites. Internet Services Providers aren’t required to block consumers from accessing overseas gambling sites since there are no laws or regulations.
Payment Methods
Although Macau currently does not operate any gambling sites within its region, players located there can still access overseas gambling sites. Like any online gambling site, the payment methods are most likely the same. This also means that payment methods cater to different countries, making it convenient for its online players. Here are the standard payment methods offered by online casinos accessible in Macau.
- Mastercard
- Visa
- Neteller
- Skrill
- PayPal
The safety of personal and banking details is always the primary concern regarding payment methods. This is why choosing online casinos with well-known payment methods like PayPal, Visa, Mastercard, and more is essential. Also, consider the withdrawal time when you plan to sign up for an overseas online casino. Lastly, consider the transaction fees that will be charged whenever you make a deposit or withdrawal with your chosen payment method.
How to Bet Online
It’s not considered illegal if you gamble on Macau’s overseas betting sites. However, if you want to bet legally in Macau, only two options are available. You can legally bet in Macau SLOTS for sports betting or Macau Jockey Club for horse racing. If you are a resident of Macau, you may visit the websites and see what betting options they offer.
On the other hand, some online bookmakers accept customers residing in the region. To name a few, Pinnacle Sports, BetVictor, and Ladbrokes are international bookmakers who accept players from Macau. Although these operators accept Macau players, it is still the player’s responsibility to ensure that they are still playing according to the region’s gambling laws and regulations. Therefore, the international gambling site holds no legal responsibility if anything happens.
Online Games in Macau
As one of the world’s hotspots in gambling, Macau is expected to operate numerous online casinos. However, online betting is only legal in this region if you place your bets through Macau Jockey Club or Macau Slots. On the other hand, if you are located in Macau and want to play online games in overseas websites, you can do so. Here are some of Macau’s top online casino sites that you can consider singing up for.
- National Casino
- 888 Casino
- 20Bet
- 22 Bet
- King Billy
- Betmaster
These overseas sites are considered the best in the industry. They also welcome players in the region and offer generous bonuses. Apart from that, these online sites also have excellent customer service. Most importantly, these are well-known names in the gambling industry, which makes them a trusted sites that you can wage your money on.