Momentum has accelerated at a fast pace in Thailand when it comes to the legalisation of the casino sector, however, if former Prime Minister Thaksin Shinawatra is to be taken for his word this could be extended to the online casino vertical.
Shinawatra, who is the father of the current Prime Minister, utilised his stage at an event in Bangkok to outline just how much of an impact the legalisation of online casino could have on the country’s economy.
With daughter Paetongtarn Shinawatra as the current PM, the influence of her father who served as leader of the country for five years from 2001, is believed to be significant.
He cited the black market already being prevalent in Thailand, as he underpinned the potential of diverting the users towards a regulated market that is safer and also benefits the economy.
“Online gambling has two to four million Thai users with savings of 300bn baht and gains and losses of about 500bn per year.
Pontificating over just how much money the industry could generate, he emphasised that “if we can tax 20% we would get more than 100bn per year”.
Shinawatra also underlined that the governance having some form of control over the industry would be a positive thing as they look to mitigate the black market’s growth.
At the heart of these plans and in a bid to ensure safer gambling is the requirement of a passport to play, which would be introduced if the country introduced an online casino framework.
Shinawatra hinted that the sector would be heavily reliant on digital developments and potentially even tap into crypto payments.
The former PM was also a strong and vocal advocate for the land based casino sector’s legalisation in Thailand, with the bill for legislation continuing on its roadmap during Paetongtarn’s premiership.
The legislation of casino games was sent to Parliament at the start of the year for approval, following a sign-off from Prime Minister Paetongtarn Shinawatra.
Balance is integral to the bill, as it seeks to protect players from gambling risks but also boost the economy.
It’s a move that will also provide a major boost to the country’s already flourishing tourism sector, as the entertainment venues being put forward by the plans elevate the allure of Thailand from the perspective of tourists in a significant way.
One of the factors to be decided is the location of the casinos. However, it has been heavily reported that Bangkok will be home to at least one of the venues.
It has been touted as one of seven plans spearheaded by Shinawatra for integrated resorts across the country.
iGaming Expert Analysis: Don’t be surprised to see online casino momentum gather pace at a rapid rate. Thaksin’s influence in government is not to be downplayed and once the potential economic benefits of the sector begin to come to light, their allure may well be too tough for the government to turn down.
