Betting Online in Chinese Yuan Renminbi (RMB)
Online gambling is more popular than ever in China. Even though Neteller 1-Pay is no longer available for gambling transactions there are still plenty of ways to deposit and withdrawal at online gambling sites that accept Chinese Renminbi (RMB). For example www.188bet.com is the most popular gambling site in China, they offer multiple versions of baccarat including games with live human dealers, traditional casino games such as slots, skills games such as Mahjong, online poker, online bingo and of course sports betting on European football and Chinese Super League, Yi League and Jia League. At 188bet deposits are very easy, anyone with a Chinese debit card can deposit and withdrawal using ASIA365.
In case you’re not familiar – an e-wallet is intermediary between a gambling website and your credit card, debit card or bank account. E-wallets are important for both privacy reasons and because Chinese banks have been instructed by the State Council Information Office (SCIO) to block all gambling related transactions. How the process works depends on the e-wallet in question. When using ASIA365 your e-wallet account is considered “managed”. The gambling site you use to deposit and withdrawal with will handle all aspects.
The disadvantage of most e-wallets is the large fees involved. The good news is if you first open a wagering account at www.188bet.com and then from there cashier follow the instructions for an ASIA365 deposit, you can deposit in RMB without any charge. When it comes time to cash out your winnings you can once again can follow 188bet instructions and withdrawal via ASIA365 free of charge.
More Options Outside Yuan Renminbi
For sports betting www.pinnaclesports.com offers by far the best odds. Although their website is available in Chinese language and supports Chinese Yuan Renminbi (RMB) as a currency, they don’t have an easy method for deposits in this language and currency. Serious punters should consider opening an e-wallet account with www.entropay.com using Euro as the account currency. When you deposit Pinnacle will convert the EUR to RMB automatically. From here when you want to cash out of Pinnacle you can use their bank transfer method. Pinnacle gives you one free withdrawal via this method each month, with additional withdrawal after the one free one per month is used up costing ¥170 per transaction. The odds at Pinnacle are so much better than the competitors that this is well worth it for serious punters, even though that initial deposit will have an associated fee.
Betting Odds Formats
When wagering with European bookmakers from China (i.e 888 or Ladbrokes) the sports betting odds are available in European decimal format or sometimes UK fraction format. Unfortunately, here Hong Kong, Indonesian-style, and Malay-style odds are not supported. In case you’re not familiar, the payouts are the same, but different places of the world use different methods for listing the odds. The page with my odds converter cover this. To explain it here however, here is a quick explanation of Decimal, Fraction and Hong Kong odds formats.
European Decimal Odds – This is by far the most popular odds format used online. Decimal odds represent how much return a winning bet would pay for each yaun wagered. So for example if the odds are listed as 1.91 and you staked ¥200 a winning bet returns ¥200 stake *1.91 odds =¥382. Worth noting is this is not your profit, the ¥382 return includes your initial ¥200 stake, so your profit is ¥182. Therefore a ¥200 stake at odds 1.91 is risk ¥200 to win ¥182 profit.
UK Fraction Odds – This odds format is used in legal UK betting shops, but is also widely used in India and South East Asia as well. Here if the odds are listed as 10/11 this would mean you profit 10 for every 11 risked. Therefore staking ¥220 on 10/11 odds a winning bet returns your ¥220 stake plus ¥200 of winnings for a total return of ¥420. I calculated this by taking 10/11=0.9091 and then multiplying my stake (¥220*0.9091=¥200). Keep in mind UK odds represent how much you’ll profit, you also get back your stake.
Hong Kong Odds – This odds format is quite popular in Hong Kong, Macao and is sometimes used in mainland China as well. Here odds are always stated as a positive figure usually using decimal points. If the odds were 0.7000 you’d get back 7 jiǎo (¥0.70) for each 1 yuán (¥1) staked PLUS get back your stake. If the odds are 3.40 you’ll get back ¥3.4 for each ¥1 staked plus get back your stake.
Note: to summarize this, European odds calculate only your return which is stake+win. UK fraction odds and Hong Kong odds calculate only your win. When dealing with these you’ll also get back your stake.
Best Online Bookies for China
As I already mentioned in this article 188bet is the most popular gambling site available Chinese language and offering Yuan Renminbi accounts, while Pinnacle Sports is the site that offers the best odds. However as censorship in China is hard to predict and you won’t always know which sites are next to get blocked by new State Internet Information Office (SIIO) it’s important you have a handful of options. Here are is my list of in order of the best bookies for residents of mainland China.
#1 in Pinnacle Sports – Again Pinnacle Sports is the site with hands down the best odds. Their website is available in Chinese and they offer betting accounts in Chinese Yuan Renminbi (RMB). They’ve been in business since 1998 and are headquartered licensed and regulated in the Curacao which is a constituent country of the Kingdom of the Netherlands. These guys are best known for the fastest payouts, highest limits and lowest margins. They however don’t cover many Chinese Sports. If you’re betting on American or European sports – this a great site to choose.
#2 is 188Bet – This is also a very good website for betting European and American sports. They are friendly to Chinese punters accepting wagers in Chinese Yuan Renminbi (RMB) and offering Chinese language support. Their company is licensed in the Philippines and the Isle of Man, sponsors five English football clubs, and is audited by the most respected firms in the industry including TST. The betting options here are many and live in-play betting for football is well covered. As far as banking options a large number of banks are supported for Chinese debit card deposits and withdrawals in RMB can be made directly to your Chinese Bank account.
#3 is Ladbrokes – This is one the oldest companies in the gambling business, they got their start as a horse racing commission agent in the UK 126-years ago in the year 1886. Today, they have 24% market share in the UK with over 2,000 live walk-in betting shops. Their online gambling site is friendly to Chinese offering language support and betting accounts in Chinese Yaun and they offer a variety of betting odds for all Chinese Super League football matches. Here you can deposit using EntroPay and withdrawal via international wire transfer.
#4 is William Hill – This is another brand similar to Ladbrokes, their company got started in 1930 and today has over 2,000 legal betting shops in the UK and a 25% share of that market. They also offer account in Chinese RMB, support Chinese Language and accept wagers on China football matches. Again, here you’ll also want to deposit via EntroPay and withdrawal via international wire transfer.
#5 is Mansion88 – This is a popular brand in Indonesia that is licensed in the Philippines. They are very friendly to China offering RMB accounts and Chinese language support. Here you can deposit via debit card and withdrawal via personal bank transfer. A benefit to M88 is they offer odds in decimal, Hong Kong, Indonesian and Malay odds formats.
#6 is 12bet – this is another site licensed in the Philippines that allows RMB deposits via debit card and withdrawals via bank transfer. In case you’re not familiar with 12bet, they are also known as ibcbet in other areas of the world. In China it is encouraged punters open an account via the 12bet brand as this is the one with Chinese language support and the best banking options. Here you can wager in Decimal odds or any Asian odds formats.
Once again, all website listed here are available in Chinese Language, accept residents of China and offer betting accounts in Chinese Yuan Renminbi (RMB). If you decide to use them to gambling online we at Sports Betting Sites wish you the best of luck.