Regulatory Authority and Essential Gambling Laws in Taiwan
Taiwan has stringent betting laws which allow players to participate in permitted sports gambling and lotteries. But, since the Taiwan Sports Lottery offers low odds for these games; a lot of Taiwanese players take part in illegal online betting from foreign sites. Although unlawful gambling attracts a harsh penalty, Many Taiwanese like to bet in major sports, Chinese chess and online poker.
The Kuomintang (KMT) government formed the Taiwanese gambling laws in 1928. The requirements are straightforward; they are contained in the Taiwan Criminal Code that establishes the punishment for unauthorized gambling. The law does assert that social gaming is acceptable but public betting in social occasions is punishable under the law.
Players can be penalized or jailed for up to two years for participating in the illegal lottery. In case an individual operates a lottery to rival the approved lottery providers (Taiwan Sports Lottery), the law does not specify the appropriate penalty; therefore, it is up to the relevant authority to determine the right punishment.
All prayers are required to be above the age of eighteen years to take part in gambling activity in Taiwan.
Types of Legal and Illegal Gambling In Taiwan
Taiwan gambling laws allow a variety of legal gambling opportunities offered by Taiwan Sports lottery; these include significant leagues sports betting, scratch cards, bingo, keno, and several lottery games such as Lotto and Super Lotto. Taiwan Sports Lottery offers low odds for online sports betting games on their site. It is regulated under the Sports Lottery Issuance Act.
Stance on Offline Gambling in Taiwan
Operating offline gambling casinos in Taiwan is illegal. However, according to the Offshore Islands Development Act, outlying Islands can authorize casino gambling as a method to boost tourism.
Stance on Online Gambling In Taiwan
Even though online gambling is illegal In Taiwan, foreign gambling websites and online casinos, are widely used by players in the country because they offer good game odds, several betting opportunities, and help them to avoid paying taxes on their winnings.
Also, foreign gambling websites support the local language and offer several methods of payment. However, players can be jailed since Taiwanese law criminalizes all types of online gambling on foreign sites.
Stance on Cryptocurrencies and Bitcoin Gambling In Taiwan
The Taiwanese financial authorities have restricted the use of Bitcoin and do not perceive cryptocurrencies as a legal method of payment. However, The Taiwanese government does not control Bitcoin gambling since it does not have rules that affect Bitcoin gambling and Bitcoin casinos.
Also, it is difficult for a player to get prosecuted under the strict Taiwan gambling laws when they partake in Bitcoin gambling owing to the anonymity offered by Bitcoin transactions.
In case you are considering playing legal gambling games, the Taiwan gambling laws allow a variety of lotteries such as Super Lotto, scratch cards, bingo, sports betting, keno, and Chinese numbers offered by Taiwan Sports Lottery although they have low odds. Also, you can try online betting on foreign websites but remember that they are illegal under the harsh Taiwan gambling laws.