Top Casinos and Best Banking Options for Thai Players

Despite being predominantly Muslim, Singapore and Malaysia have capitalized on at least some form of gambling. Thailand, on the other hand, doesn’t even have land-based casinos. Besides horse races at seven racecourses and the state lottery, nothing is legalized or allowed. Instead, the country still relies on the Gambling Act of 1935, which is archaic, to say the least.

Everyone knows that a large number of people gamble regularly. In June 2022, even the Thai parliament discussed creating five areas for land-based casinos. This was after multiple efforts and suggested amendments from minor political parties.

It’s unclear whether you need to pay taxes on winnings at Thai online casinos. There were cases when people were asked to justify their profits, but many others slipped through the cracks. The practice is a significant legal loophole to which the authorities selectively pay attention.

However, there is also the issue of how some legislators define casino sites. For example, some would consider them underground lotteries, which is a term that’s sometimes used broadly for illegal practices. In addition, Thailand has the same legal quirk as the US legal system – even income from illegal activities is taxable.

For those unaware, this is a common tactic in persecuting criminals when there’s a lack of evidence. If the perpetrator can’t be caught red-handed, their finances could indicate tax evasion.

This is evident in Judgment of the Supreme Court no. 10701/2555, pertaining to a case where three defendants appealed their tax evasion charges. They argued that the income was technically not legal and they ought to keep the winnings, but the SC disagreed. Instead, the judges referred to the Revenue Code, Section 40 (1) through (7), as the main argument as to why this is taxable income.

If you use cryptocurrencies, be aware of potential taxable profits from converting coins to fiat currencies later on. Again, this is rarely enforced. To be extra safe and avoid legal issues, we recommend consulting a Thai lawyer, accountant or relevant financial experts. This is not legal advice.

• Check for a valid license. Whether it’s Malta, Curacao, the Isle of Man or another country, there are plenty of regulators who know their stuff. When visiting the site for the first time, check for a seal of the gaming authority and a license number.
• Consult other players. Sometimes, player reviews are the best way to ensure you’re not falling into a trap. Our team comprises a dozen experts, but we can’t match the voices of thousands of players. If others say they’ve experienced issues, and you see many similar comments, maybe reconsider your choice.
• Use our recommended Thai online casinos and bonuses. You can never be too safe, and it’s never a good idea to risk your own money. That’s why we do it instead. Stick to our top list if you want to play at trustworthy casinos and find the best bonuses in Thailand.

Thailand has a population of 71.6 million people (2019), so it’s no wonder that online casinos gladly accept Thai baht (THB) deposits. After all, it’s also the tenth most traded currency in the world. With that in mind, you won’t have a hard time finding online casinos that accept THB.

Since there are no legal Thai sites, international ones don’t block the country and accept the currency like any other. Before claiming a welcome bonus or making a deposit, ensure there aren’t any internal conversion rates. Otherwise, you’re good to go. Check out our top list to begin.

In the case of Phachara Wongwichit, the phrase’ chess, not checkers’ has a more literal meaning. After playing competitive chess as a child, he used the same logical principles and strategy-building capabilities to master poker. After going pro in 2011, he made a nice $3,180 at Australia’s Gold Coast Poker Championship. This motivated him to return to Australia in 2016 and win second place at the Aussie Millions Poker Championship. After winning $118,000 in that competition, he slowly worked his way to 4 more titles and various top-10 finishes.

Some might call Punnat Punsri a one-hit wonder, but no one can deny his success or his $4.9 million in career earnings. This Thai prodigy went pro in 2014 but didn’t win significant amounts of money immediately. Instead, he went with the slow and steady route, sizing up the competition and racking up high finishes in London, Vegas and other places. The crown jewel of Punsri’s career is the $2.6 million reward for 1st place at the Triton Poker Super High Roller Series in Kyrenia, Cyprus. This made for a strong 2022 and finally put him on the global map.

Another heavy hitter we have to mention is Kannapong Thanarattrakul. Many call him the most talented Thai poker player, and it’s easy to see why. Having made his debut in 2018, he has already reached the $2 million mark in career earnings. Everyone noticed him in 2019 when he won first place at the Asian Poker Tour event in Tokyo. The following two years proved to be a rough patch for Kannapong, but he blew everyone away with a $646,000 win at a 2022 Triton Poker event in Cyprus. He also placed second in the WSOP Online Main Event a few months later. All in all, the future seems bright.