In Thailand, all local gambling operations are illegal, and most major payment providers tend to block payments to & from offshore gambling sites. This is why crypto-friendly brands are the best available option for avoiding such restrictions. And, apart from frictionless & safe fund transfers, Thailand crypto gambling sites offers many additional advantages.
These include access to 5,000+ games from the major slot studios, thousands of high-odds betting options and top-tier bonuses that can boost your first deposits up to 300%. Stay on the article to find out the best brands, the local gambling legislation and what’s the current situation with crypto taxes in the country.
A recent cryptocurrency boom has taken the gambling industry by storm. Cryptocurrencies offer an unmatched level of anonymity and flexibility. Thai residents can also benefit from this technology too and, at the same time, enjoy lucrative bonuses. We have reviewed the best crypto gambling sites in Thailand attentively. Below you will find casinos and bookmakers that offer unique crypto gambling bonuses, all through a high level of reliability.
What to know about crypto gambling sites in Thailand
Gambling in Thailand is a complicated issue. In fact, there is typically no legal gambling at all besides the national lottery and betting on horse racing. Yet still, this doesn't mean that locals don't gamble; pretty much the opposite. Thais frequently play at illegal casinos, cock fighting dens and many opt for foreign online casinos and bookmakers. However, if a local player gets caught gambling, he could face severe penalties, so a low profile must be maintained at all times.
Over the last few years, many people gamble online, in makeshift betting shops or even cross the border to play at casinos just across, in Cambodia or Malaysia. For example, a town called Poipet near the Thai border, has been nicknamed the 'Sin City of Asia'; that’s because it has an entire casino industry built around Thai nationals who often cross the border to gamble there.
And regardless of the non-existent crypto gambling regulation, it is pretty clear though, that the easiest and safest way to do it is via offshore crypto-friendly brands. While the innate privacy of blockchain networks allows players to stay 100% under the radar.
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Thai crypto gamblers are spoiled for choice. A quick search reveals that they can play at dozens of online crypto-friendly casinos and bookmakers. What’s more, crypto gambling sites in Thailand offer better odds and promotions than their traditional counterparts. However, be careful when choosing your favorite site since not all of them are trustworthy. Check out our filtered recommendations and do a bit of your own research too.
Thai crypto gambling Info
When you join a crypto gambling site, always check the terms & conditions, as the withdrawal times & possible limits are important factors to consider.
Crypto gambling sites in Thailand usually offer high-quality games from providers like Netent, Yggdrasil, QuickSpin and Pragmatic Play.
Only few casinos allow you to play using your local currency; in most cases, your account balance will be displayed in Euros or Dollars; but, if you use a Crypto Only Casino, you may also place bets in crypto.
Ethereum transactions have excessive network fees, while Bitcoin transactions have a long confirmation time; alternative cryptocurrencies such as LTC, BCH and XRP come with minimal fees and rapid transaction times.
Which is the best crypto casino in Thailand
Placing a bet on the outcome of any given event is a fun activity that has been around for centuries. Today it's easier than ever to place wagers thanks to advances in technology. Crypto casinos allow you to deposit and withdraw with cryptocurrencies in mere seconds, while also allowing you to keep your sensitive details private. The registration process at most crypto casinos in Thailand is also much simpler compared to traditional online ones and even requires less personal information.
As crypto casinos are able to avoid high costs related to licensing and third-party payment processing fees, players can easily find valuable welcome bonuses, reload offers and rakeback promotions that clearly surpass the ones of conventional gambling sites. This is a key factor for someone to choose cryptocurrency gambling.
However, do not get tempted right away by the over-the-top amounts that you will see. The first course of action should always be a careful examination of the website's bonus terms and conditions. In this way, you will hardly face uncomfortable situations down the road.
Which are the best Thai crypto sports betting sites
Since there are no bookmakers holding an official local license, bettors look for alternative ways of betting on football, basketball and other major sports. This is why offshore crypto sports betting sites in Thailand are increasing their popularity. We have listed the best active crypto sports betting sites in Thailand that will provide you with the best odds, hundreds of sports markets per event and numerous daily offers.
How to deposit on Crypto gambling sites in Thailand
The first step is to create a new account at one of the exchange platforms. Binance and Kraken are very popular selections in Thailand. Other local crypto exchanges include Bitkup and Satang, where you can even trade using the local currency (Baht). Once you have registered and opened your account with a crypto exchange, you may then deposit funds either by bank transfer or credit card. Once you have filled it up, you can purchase any cryptocurrency and send it to your private wallet; lastly, top up your gambling account.
Start an account at a crypto exchange. Fund it via debit card, bank transfer or any other local option. Acquire the cryptocurrency that you are going to use as a gambling bankroll
If you are not in a hurry, limit orders hold fewer fees than market orders. Sometimes, it is better to acquire the proprietary coin of the exchange first, as trading pairs with them cost less
Transfer the cryptocurrency amount to your private wallet. Never make direct transactions between crypto exchanges & crypto gambling sites. Crypto exchanges may freeze such accounts.
Head over to the gambling site’s cashier section. Click on the relevant crypto method. The wallet’s address will appear. Copy the address and paste it into your wallet’s send function. QR code scans are commonly available too.
If a brand does not support crypto-only wallets, watch out for the exchange rate. Any spread above 1% of the current market rate is too much
After a few seconds or minutes, your deposit will settle. This depends on the cryptocurrency and the number of block confirmations required by the operator
Once you get a big win, the payout process will be a breeze. You just have to enter your wallet address in the relevant field and once the withdrawal is processed, it will be available within an hour, for most coins. A really important question still remains though; what happens with gambling winnings and is there a crypto tax in Thailand? Let’s find out.
Since online casinos and bookmakers are not legal in Thailand, no taxes are levied on winnings, so you get to keep all you win. However, note that the situation is different for the sale of crypto assets that incurs a capital gain tax. Nonetheless, the government holds a lenient stance on crypto taxation, which is beneficial to crypto traders when compared to other countries in the region. A proposed legal framework that would tax crypto gains at 15% was rejected in early 2022, maintaining Thailand among the most crypto-friendly nations.
Privacy as a priority
If you live in Thailand and you want to gamble, the only choice you have is through an offshore gambling site. You should however be careful. The local government has introduced strict rules on all related activity, so anonymity is extremely important. If you get caught gambling, you could face up to a year in jail and a ฿1000 fine. This is why it's crucial to keep your gambling sessions under wraps.
One of the best ways to stay undercover is to pick gambling sites that hold relaxed KYC procedures. Another alternative for an even higher level of privacy is to use so-called “Privacy coins like Zcash or Monero. The main difference between these coins is that you can't see any transaction details regarding the sender or the receiver on any blockchain explorer.
How is the Situation in Other SEA Countries?
The case in most countries around Thailand is quite contradictory. On one hand, the South-East Asia region is home to some of the most hardcore gamblers around. On the other though, in many nations, gambling is outright banned for cultural, religious or other reasons. Most locals rely on illegal betting shops or mediocre online casinos.
With cryptocurrencies, everything is easier and most importantly, safer. Your transactions will not disclose your identity anywhere. As a prime example, Malay crypto casinos and Indonesian crypto gambling sites will let you access top-tier gambling products, bonuses up to 5 BTC and instant withdrawals. All this without any bank or centralized financial institution getting in the way. And, of course, no tax on winnings.
*Remember, as we are not financial advisors, this is meant to be a simple overview of the current fiscal situation. Contact a tax professional for your financial inquiries, as errors may lead to significant losses & subsequent fines.
Why you should prefer crypto gambling sites in Thailand
Why you should prefer crypto gambling sites in Thailand
Since there are no local online gambling sites, local players have to resort to alternatives such as offshore crypto gambling sites in Thailand. You should definitely consider betting on those, especially due to the higher level of safety and anonymity they offer. Whether you prefer sports crypto betting or playing slots, you will find a wide range of fantastic crypto gambling sites in our CryptoGambling.TV list.
Since April 1st, 2022, a new law has been introduced that prohibits the use of Bitcoin as a means of payment. You can still buy it and trade with it, but you still can’t buy services through it; however, it is rather impossible to control.
If you sell your crypto at any time with a profit, then it qualifies as a capital gain, with a relevant applying tax of 7%.
If you want to deposit with cryptocurrencies, we would recommend so-called privacy coins; for example Zcash or Monero. The difference is that these coins provide the highest anonymity.
Yes, there are crypto only and hybrid bookmakers; you can deposit with cryptocurrencies at both of them. The difference is that at crypto-only bookmakers, you can even place your bets in crypto. You can find more information on our Bitcoin casino reviews
Cryptogambling.tv is the first site to fully empower crypto iGaming brands. Decentralized digital currencies are the answer to the restrictions that gamblers face worldwide. Your funds, your rules. At the same time, we accept no compromises, and promote only legitimate websites. Trust our expertise, become an avid crypto gambler and maximize your bankroll’s value.