Rolling the dice: Thailand to legalise online gambling
In a landmark move, the Thai Cabinet approved amendments to ministerial regulations aimed at legalising online gambling, with changes expected to be completed within a month.
Deputy Prime Minister and Minister of Digital Economy and Society (DES) Prasert Chantararuangthong revealed the decision today, following discussions at the Cabinet meeting yesterday, January 13.
The amendments, spearheaded by the Ministry of Digital Economy in collaboration with the Ministry of Interior and the Council of State, aim to regulate and tax Thailand’s thriving underground online gambling market.
“We’re targeting illegal activities like football betting and other digital gambling platforms, which currently evade taxes.”
The process begins with changes to secondary laws, including royal decrees and ministerial regulations, some of which require Cabinet approval. These legal updates are expected to pave the way for major law amendments later.
When questioned about the limited involvement of just three agencies in an issue with significant societal implications, Prasert assured that additional stakeholders could be brought in if necessary.
“If other areas are affected, relevant agencies will be invited to participate.”
The DES minister added that public input might be sought during the process.
Controversy arose after former Prime Minister Thaksin Shinawatra mentioned the policy during a public dinner talk, leading to questions about why the resolution wasn’t formally announced, reported KhaoSod.
“There was discussion on this matter, but public focus shifted to the Entertainment Complex Act.”
When pressed on whether the government or private entities would act as bookmakers, Prasert said, “We have yet to decide on operators. Secondary laws must be finalised first.”
ORIGINAL STORY: Thailand greenlights legal casinos to boost tourism and economy
In a game-changing move, the Thai Cabinet has given the nod to a draft bill that would legalise gambling and casinos, aiming to turbocharge tourism, job creation, and investment.
Prime Minister Paetongtarn Shinawatra announced the bold move today, January 13, heralding a new era for the country’s economy.
Under the government’s ambitious plan, the legislation, soon to be debated in Parliament, will allow gambling in sprawling entertainment complexes.
While casinos and most types of gambling are currently banned in Thailand, illegal betting on football and underground lotteries flourish, with millions involved in the black market. Currently, legal gambling is limited to state-controlled horse races and the official lottery.
Unlike its neighbours, Cambodia, Singapore, the Philippines, Laos, and Myanmar, Thailand has yet to tap into the lucrative casino market.
The government argues that the lack of legal casinos means missing out on potential revenue and not fully capitalising on the tourism sector’s potential. Tourism remains a vital pillar of Southeast Asia’s second-largest economy, with Thailand anticipating record visitor arrivals in the coming years, said the 38 year old Thai prime minister.
“Legalisation will protect the public and also generate more state revenue.”
Though previous attempts to regulate gambling have been met with resistance from conservatives in the predominantly Buddhist nation, the latest proposal hopes to overcome these hurdles.
Deputy Finance Minister Julapun Amornvivat shared optimistic forecasts, predicting that the legalisation could spur a 5% to 10% increase in foreign visitors and boost tourism revenue by approximately 120 billion to 220 billion baht. Additionally, the initiative could create between 9,000 and 15,000 new jobs, reported Bangkok Post.
A staunch advocate of legalising gambling is billionaire ex-premier Thaksin Shinawatra, the PM’s father, who remains a powerful influence within the ruling party.
As Thailand rolls the dice on this daring economic strategy, it aims to turn the tables on its rivals and emerge as a key player in the regional tourism sweepstakes.
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