The draft law proposes that Thai citizens must prove they have a certain amount of savings, and pay high entrance fees, if they want to gamble at domestic casinos.
Thailand proposes laws with strict regulations to prevent locals from gambling in casinos that cater to tourists - Photo: REUTERS
On February 17, Thailand announced a draft of strict regulations to limit its citizens from entering casinos, while Bangkok plans to build a large entertainment industry to attract tourists.
According to the draft issued by the Office of the Council of State of Thailand, Thai citizens must prove they have at least 50 million baht ($1.5 million) in fixed deposits for at least six months, to be able to gamble at casinos.
The regulations also include an entry fee set at 5,000 baht (nearly $150), aimed at discouraging the general public from gambling, given Thailand's per capita GDP is around $7,300.
Most forms of gambling are illegal in Thailand, but illegal betting remains rampant, according to Reuters.
Meanwhile, domestic gamblers are seen as a key draw for foreign investors, who are closely watching the details of the draft law.
According to a Citi report by the end of 2024, an estimated half of the population aged 20 and over in Thailand could be gamblers, laying the groundwork for the country to become the world's third-largest gambling destination.
According to consultant Daniel Cheng, the high entrance fee of 5,000 baht will limit people's access to casinos, as this level is only suitable for Thailand's upper, middle and wealthy classes.
New public hearings on the new draft law will be held from February 15 to March 1.
Thailand allows betting on state-controlled horse races, along with lotteries and betting on some sports, such as boxing.
Several countries in Southeast Asia have legalized casinos, but only a few, such as Singapore, have succeeded in attracting investment from industry giants such as Las Vegas Sands Corp, thanks to tight regulations.
The Thai government hopes to attract at least 100 billion baht ($3 billion) in new investment, aiming to increase the number of foreign visitors annually by 5% - 10%, and generate revenue of more than 12 billion baht per year.
Thailand moves towards legalizing gamblingSource: https://tuoitre.vn/nguoi-thai-lan-muon-vao-song-bac-phai-co-tai-khoan-trieu-do-20250217214113429.htm
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