The Legal Climate for Gambling in Thailand

 

The legal climate for gambling in Thailand has become stormy. Several governments have attempted to legislate it to raise revenue. However, these laws have different sweeping implications than those in the West. For example, it is a criminal offense to manufacture, own, or sell playing cards without the proper license.

Gambling in Thailand is currently governed by the Gambling Act of 1935, which includes 46 ministerial regulations. Ufabet But other laws in place govern the industry, such as the Anti-Money Laundering Act, the Playing Cards Act, and the Royal Decree.

The gambling debate has been a topic of discussion for years. A new survey conducted by the Casino Committee of Thailand found that 81% of respondents supported the legalization of casinos. This may be because of the strong social support for such a measure. While Thais are not excessive gamblers, they are not afraid of taking the risks that come with gambling.

It is also possible that the government could legalize gambling as part of its efforts to attract foreign investment. Tourism contributes about 20% of the country’s GDP, but the quality of tourists is declining. According to the Centre of Gambling Studies, a study commissioned by the government, a large portion is due to the illegal lottery.

The government is attempting to crack down on the illegal gambling market. Prime Minister Prayut has launched a crackdown on underground casinos in Bangkok. The government has also begun to track down online casinos. There have been several arrests for illegal gambling in the past three years.

Amid this stormy political climate, a group of Thai businessmen has proposed the creation of a legal gambling industry. These entrepreneurs believe the gambling industry has the potential to be worth $30 billion. Although they would need the backing of most of the country’s population to make such a move, it is a good start.

The casino committee examined the viability of legalizing gambling in the country. It included 45 members from various political parties. They included a senator from the ruling party, a senator from the opposition, and representatives from the cabinet. One source of Inside Asian Gaming questioned the motives of the special committee. Another member, a senator, is widely rumored to be the “godfather” of illegal gambling in Bangkok.

According to the study, 57% of the adult population of Thailand gambled at least once in the past year. Many of these gamblers are teenagers. The number is estimated to be between 700,000 and 1.7 million. Among the survey’s findings, soccer betting was the most popular form of gambling among the Thai.

To ensure the success of the legalization of gambling in the country, the government is examining the social and economic impact of such a move. It has been estimated that the legally-legal gambling industry in Thailand could be worth $30 billion. Ideally, the industry would be a mix of locals and visitors.