Thailand is considering legalizing gambling to boost its economy, inspired by Singapore’s model of integrated resorts and casinos. A 60-member committee, supported across political lines, is evaluating this potential shift, focusing on managing the social impact and curtailing existing illegal gambling activities.
The bold move could position Thailand as a competitor in the regional gambling tourism market, with major international players expected to show interest. However, concerns remain about the rise of online gambling and the need to address illegal activities tied to gambling. The complex nature of legalizing gambling suggests that implementing such laws could take years. Let’s dig deeper into the matter to learn more.
Singapore-Style IRs and Online Betting Underway?
Decision-makers in Thailand are taking their time pondering a decision that would make gambling legal in the country. This would occur by opening a series of casinos at Singapore-inspired integrated resorts (IRs) and enabling online betting sites to function for Thai players legally.
Expert voices, on the other hand, speak about the necessity to develop several mandatory protective measures for the potential gaming industry in Thailand..
The list includes restrictions aimed at local players similar to the ones adopted by Singapore, such as entry levies and exclusionary orders a ban on visits to casinos at IRs while maintaining online gambling outlawed for the time being.
More concerns have been raised regarding the fact that legal Thai casinos would offer extra betting opportunities for people if illegal gambling, which is currently thriving in the country’s border towns and on the internet, is not tackled correctly.
Operators That Could Come to Thailand
In 2023, an ad-hoc committee consisting of 60 members was formed to assess the idea of legalizing casinos and gambling at so-called entertainment complexes.
The committee, led by the country’s Deputy Minister of Finance, Mr Julapun Amornvivat, was reunited with the help of the Thai parliament and received support from members of parliament both in government and opposition.
Should the legalization plans be given the green light, it would mean that Thailand would be in direct competition with neighboring countries for tourism revenue generated by gambling. For example, in Southeast Asia, besides Thailand, only Brunei and Indonesia continue to bar gambling.
Legal gambling in Thailand would attract a large number of important operators overseas with names like Las Vegas Sands and MGM Resorts on top of the list. The former is the owner of Marina Bay Sands in Singapore.
Several other types of gambling could also be permitted, including online, sports, stock exchange index, and foreign exchange rate betting. Nonetheless, given the very complex nature of gambling legislation in general, it is not expected for these changes to happen very shortly, as they may take years to be implemented.
On-Site Casinos Could Deregulate Other Gambling Forms
Opening on-site casinos featuring strict regulations in place could be one of the first steps ahead of the deregulation of other forms of gambling, with an emphasis on gaming platforms.
The people of Thailand continue to be split when it comes to the prospect of enabling entertainment complexes featuring gambling to open in the country, as per results from a poll performed by the same parliamentary committee on the matter.
The poll revealed that over 80% of all respondents would agree with the IRs opening, but only 36% of them also wanted to see them include casinos. More opposition is expressed regarding the idea of enabling online gambling, which could cause further delays in the development of the legislation.
As expected, certain interest groups are exerting pressure on the government to make online gambling legal, in the context of the incredible growth of this industry.
For online gambling to be legalized, however, it is necessary to figure out all the associated costs and create the necessary regulations for it while making sure vulnerable categories including gambling addicts are well protected.
Countries like Singapore have completely banned online gambling as well as gambling ads. Thailand may follow these examples to get a deeper meaning of the potential adverse effects that could be triggered by enabling betting platforms to pop up online.
At the moment, the country counts 1.9 million online gamblers, which is double the number registered in 2021 during the Covid lockdown. Many players engage in their favorite activities inside the country and most of the operators providing them with these services are Thai.
As explained by Stop Gambling Foundation’s secretary-general, Mr Thanakorn Komkris, without the right measures that would put a complete ban on these illegal operations, the country cannot be looking forward to having a sustainable gambling industry.
