Draft recommends that Thai players must have fixed payments worth$ 1. 5 million.
PUBLISHED: 17 Feb 2025 at 18: 47
New draft regulations released on Monday showed that Thailand has proposed stringent entry requirements for local gamblers in casinos as it plans to establish a significant gambling sector to increase tourism, which could possibly detract investor interest.
According to the document released by the Office of the Council of State, which governments demand on legal issues, plan, and visits, Thai citizens must have at least 50 million ringgit in fixed payments for at least six months before they can gamble in casinos.
The demands, which also include an entry fee capped at 5, 000 baht, will effectively stop large swaths of the population, where per capita gross domestic product is about$ 7, 300, according to federal data. Most forms of gambling are unlawful in , Thailand , but illegal betting is rife. According to analysts, private game players are seen as a significant draw for foreign investors because they are closely monitoring the draft law’s specifics.
A Citi statement late last year estimated that about half of people age 20 and more in , Thailand , had been game players, providing a foundation for the nation to potentially be the world’s fourth largest gambling destination.
An entry fee as high as 5, 000 baht would restrict casino access to upper middle class and wealthier Thai individuals, said Daniel Cheng, a gaming consultant based in , Singapore.
” A further 50 million baht bank deposit requirement would render Thai casinos no better than foreigner-only regimes like South Korea’s”, he said.
Between February 15 and March 1, a new set of public hearings for the new draft law will be held. Before being sent to parliament for consideration, the draft law must be approved by the cabinet after it has been approved.
Thailand , allows gambling in state-controlled horse racing, the lottery and betting on some sports, such as boxing.
Several countries in Southeast Asia have legalised casinos, but only a few like wealthy , Singapore , has been successful in drawing global giants such as Las Vegas Sands Corp on the back of robust regulations. The Thai government, led by the populist Pheu Thai party, hopes to attract at least 100 billion baht in new investment, for an annual boost to foreign arrivals by 5 % to 10 % and generate revenue of more than 12 billion baht a year.
According to the draft, there was a restriction that the casino area could only occupy 10 % of the entire complex space.
Tourism is a key driver of Southeast Asia’s second-largest economy. This year, the government expects 38 million foreign arrivals, closing in on its pre-pandemic record of nearly 40 million tourists. However, according to an opinion poll conducted last month, the majority of Thais oppose the casino plan, and some political parties claim that creating a gambling industry would only worsen social issues.  ,