Online Betting in Taiwan
In major Taiwan cities official betting shops of the government-owned Taiwan Sports Lottery (TSL) can be found on almost every street. Here you can bet on NBA basketball and MLB baseball from the United States and also bet Chinese basketball, Asian baseball leagues, and football (soccer) competitions from around the world. Recently TSL has begun offering promotions surrounding Taiwanese NBA basketball player Jeremy Lin. They’ve done similar promotions in the past with MLB player Chien-Ming Wang, and occasionally have specials on other Taiwanese MLB players such as Wei-Yin Chen, Chin-Lung Hu, Hong-Chih Kuo, Che-Hsuan Lin and Fu-Te Ni.
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A government run betting shop in Taiwan
Using Foreign Online Bookies
Although betting with TSL is simple and entertaining, the odds are quite poor. Taiwan residents looking for superior betting value, bet online with foreign online bookies who offer betting accounts is NT$ (TWD), and support various languages including English, traditional Chinese and simplified Chinese. Whether using these websites is legal or not, remains a gray area, but thousands of people from Taiwan use them every day to place sports bets without ever running into problems. Simply put, our gambling laws do not mention anything about using foreign online betting sites that are legal in other countries.
Understand Post Up
Before I cover bookies for Taiwan it’s important you understand how to post up. To use reputable foreign online bookies that offer TWD betting accounts you need to first open an account on their website and then send them cash (this is called posting up). The post up is money that gets added to your betting account balance. When you make a bet at their website the amount you stake on that bet is removed from your balance. If your bet loses, nothing else happens. If your bet wins, the stake is returned to your account balance and the winnings are added too. At any time you can cash out some or all of your betting account balance by requesting a withdrawal (payout) from the bookie. Most pay by transferring money to your Taiwan bank account.
Best Foreign Bookie for Taiwan
The top foreign bookie for Taiwan residents is www.dafabet.com. They offer by far the best odds on Chinese CBA basketball, NBA basketball, other American sports, and football (soccer) competitions from around the globe. They also have the highest betting limits and fastest payouts. Players from Taiwan can deposit here using bank wire, and the fee is simply the standard bank charge for wire transfers (note: I was charged only NT$ 59 by my bank for a NT$ 4000 deposit to Dafabet). You can also cash out from Dafabet to your local bank. The first time you do this each month is free. Additional payouts in the same month cost NT$825 plus the small fee your bank charges for receiving the transfer.
Using Skrill from Taiwan
Apart from wire transfer, the best method for depositing at other TWD bookies is by using the e-wallet www.skrill.com. This is essentially an online bank account. You open an account at their website and get an account number and password. You then send a bank wire to Skrill. When this money is received, it gets added to your Skrill account balance. Once this happens, you can log into any online betting site, access their cashier and select Skrill as the deposit method. When you want to cash out, you visit that bookies cashier and request a Skrill payout. The money is then transferred by the betting site to your Skrill account. This money can be used to fund other online betting accounts or you can withdraw the money from Skrill using by requesting a bank transfer.
In addition to bank wires, Dafabet accepts Skrill deposits and makes Skrill payouts. The same is true for Bodog88. Both of these sites offer Taiwan New dollar (TWD) betting accounts. Here are some details on the latter two:
www.bodog88.com is the only Asian bookie I know of supporting Taiwan dollar (NT$) accounts. They also have an English and Chinese language poker site, mahjong site, and casino. Their casino has sexy live dealers (both Asian and European) that deal baccarat, blackjack, roulette and sic-bo in front of a web cam while visitors make bets from their computer. What’s neat about their sports betting is they have some of the best odds on live in-play football matches, and also cover more Asian football leagues than the others mentioned in this article.
Trick for Avoiding Fees
Skrill can be a very expensive deposit method which is why many use Dafabet and deposit with bank transfer (wire). This is because while Skrill offers NT$ as a currency it doesn’t actually accept or make wires in it. When you send NT$ to Skrill it gets converted to Euro and then back to NT$. The same thing happens when they send you NT$; they actually send the Euro equivalent. Also, sometimes there are fees taken by intermediate banks. The trick is to use Skrill mostly for moving money between online bookies.
In order to get Skrill payouts from bookies you need to have once deposited with this method. So what you should do is load your Skrill account with money one time, and deposit to TWD bookies Dafabet and Bodog88. After this, just cash out winnings to Skrill and deposit with Skrill back to the other sites (there is no fee for this). Your goal is to get the excess into Dafabet and cash out via wire transfer. The same works the other way: If you run out of money due to a bad run, or because you cashed out too much, deposit into Dafabet with wire transfer. After betting there, cash out some money to Skrill so that you can use it to reload Bodog88.
Most Taiwan banks have no issues with making wire transfers to Dafabet or Skrill, but some do. There are MANY banks in Taiwan and it’s a good idea for serious sports punters to open a few different bank accounts. This way if your bank has a problem with online betting you can just move your money away from them to another bank. This is also a good idea to shop around to see how much in fees you get charged by each bank. With this all covered, you now know how to bet online from Taiwan and we wish you all the best of luck.