Thailand’s Cabinet on January 13 approved a bill to legalize gambling and casinos, which will be sent to parliament for approval. The next step is expected to address the legalization of online gambling.
Thailand currently bans casinos and most forms of gambling. Meanwhile, illegal soccer betting and underground lotteries are widespread. Neighboring countries such as Cambodia, Singapore, and the Philippines have now reaped significant economic benefits from legal casino operations.
“Legalization will protect society and also bring more revenue to the state,” Prime Minister Paetongtarn Shinawatra told reporters.
It is predicted that legalization would increase the number of foreign tourists by 5-10%, bringing an additional 120-220 billion baht ( US$3.45-6.32 billion ) to the tourism sector. It will also create 9,000 to 15,000 new jobs, which will significantly increase local employment.
Also amidst the consideration of the bill, the Thai government is increasingly focusing on the idea of legalizing and regulating online gambling. Some officials have confirmed that an official study on online gambling should be completed soon.
Former Thai Prime Minister Thaksin Shinawatra, speaking on the day the bill was passed, said the government was also developing mechanisms to control access to online gambling and tax revenue from it.
“Online gambling has 2 to 4 million Thai users with savings of 300 billion baht and profits and losses of about 500 billion a year,” Thaksin said.
“If we could tax 20 percent … we would get more than 100 billion a year,” he said.
The main reason for legalizing online gambling is the same: the benefit to Thailand’s economy and preventing illegal online gambling, which increases the country’s crime rate.
- More information on Google News.
Comments