CNY – Chinese Yuan at Online Casinos in 2023
Online gambling websites number in the thousands, from online poker rooms to online casinos and sportsbooks - the popularity continues to grow. But before getting down to playing, you first need to find a safe and trustworthy casino online. One of the considerations should be whether the casino is licensed and regulated and by whom.
Online Casinos for players with Chinese Yuan in 2023
There are, of course, other considerations, including your preferred currency for starters. While casinos accepting USD and EUR, GBP are common, online casinos accepting CNY are not so much. Fortunately, fortunaonlinecasinos has a list of the best casinos that accept CNY currency.
Depending on your country, players with renminbi to deposit may qualify for ongoing casino bonuses and live casino bonuses. Deposits and withdrawals are available using voucher payments, e-wallets and instant banking.
Sorry, we currently don't have any casinos listed for players from your country.
About the Chinese Renminbi
The Chinese renminbi ↱ or yuan is the official currency in the People's Republic of China. It was introduced in 1948 by the People's Bank of China to end the hyperinflation of the time.
Although the yuan (元) is a basic unit of the renminbi (CN¥), the names are used interchangeably in international circles.
In the last 10 years, the renminbi or yuan, alongside other currencies like the US dollar and euro, has become a reserve currency. Before 2005, the renminbi was pegged to the American dollar.
Today, the renminbi is a floating currency, although within a tight range against a basket of currencies. In the past, tension has risen over the value of the Chinese renminbi. The US has accused China of devaluing its currency to gain a competitive advantage.
Gaming in China
China has strict gaming laws, making almost all forms illegal, with the exception of Taiwan, Hong Kong and Macau. Punishment for profiting, organising or professional gambling as defined by Article 303, Criminal Law in China is punishable by a fixed term of up to 3 years, detention, fine and public surveillance. Interestingly, there is no legal definition of land-based or online gambling.
This makes online gambling websites and anyone who facilitates online gambling illegal. This also extends to persons who intentionally provides infrastructure, such as telecommunications and payment providers, or capital.
Exceptions to Article 303 in China include government authorised lotteries, including Welfare Lottery and Sports Lottery. Authorised sports betting, not part of the sports lottery, is also prohibited. Sports lotteries can be purchased online, and there is a telephone lottery for mobile gambling. Players must be 18 or older to participate.
Winnings from lotteries, called accidental income, are subject to a 20% income tax.
At Fortune Online Casinos, we do not support the breaking of any laws in China. However, we understand that some online casino players outside of China may hold renminbi and wish to play at online casinos accepting CNY.
Chinese Yuan Online Casino Payment Methods
Although online casino payment methods vary by casino and country of residence, there may be several ways to deposit to a renminbi casino online. For example, some online casinos accept renminbi deposits using a Visa or Mastercard.
Then e-wallet casinos such as Neteller online casinos and ecoPayz online casinos accept renminbi deposits and withdrawals.
Next, instant banking casinos exist that may include Klarna online casinos, TrustPay online casinos, Trustly online casinos and Rapid Transfer online casinos, but they are available to players from select countries with accepted local banks which won't support CNY.
Finally, electronic voucher casinos such as Paysafecard online casinos, Neosurf online casinos and Astropay online casinos allow deposits but they aren't available for CNY.
Safe online casinos safe for players with renminbi
Players outside of China can find many safe online casinos with Chinese renminbi. Several payment options supporting deposits and withdrawals exist. These may include voucher payments, instant banking methods, e-wallets or others.
Playing at a regulated online casino has many advantages. The top regulators in the world work on common principles:
- Ensuring player rights
- Ensuring the protection of minors and the most vulnerable
- The promotion of responsible gambling
- Protecting the integrity of games and gaming devices
- Protecting the industry's integrity
That's why that when searching for casinos that accept Chinese yuan/renminbi, you'll want to consider ones licensed and regulated in a reputable jurisdiction. This could include Malta (MGA), the United Kingdom (UKGC), Gibraltar (Gibraltar Regulatory Authority) or others.
FAQ for Chinese Yuan at casinos
Online gambling in China is strictly illegal and can be punishable by up to 3 years imprisonment, a fine, surveillance or detention. The only exceptions are Macau, Hong Kong and Taiwan.
Yes, it is possible to deposit CN¥ and withdraw CN¥ at online casinos. Casinos that accept CNY are not as common as other currencies. That is why at Fortune Online Casinos, players with Chinese yuan can find online casinos that accept yuan.
Depending on your country of residence, it may be possible to receive an online casino bonus or a live casino bonus on CNY deposits.