Tapping Into Great Potential
Prasert’s comments follow a campaign speech by Thaksin Shinawatra, former Thailand Prime Minister and father of current premier Paetongtarn Shinawatra. During the Sunday speech, Thaksin lobbied to regulate online gambling to benefit the economy and society rather than letting it thrive underground.
Thaksin also suggested setting the legal gambling age at 20 years and above. However, Prasert confirmed that no policy around the proposed age limit has been discussed.
Online Gambling Challenges
Thailand’s gambling market is associated with economic and societal challenges that call for action to address the issues. The underground online casino sector reportedly serves up to 4 million Thai residents daily, leading policymakers to consider its regulation for player safety and tax revenue generation. The niche is also associated with criminal behavior among the youth, who are used as “mules” for fraudulent activities.
Prasert, also Thailand’s Minister of Digital Economy and Society, underscored the need to deal with these concerns and the significant positive impact of legalizing the sector, stating, “Online gambling platforms see massive amounts of money pass through them every day, which, if taxed properly, would be good for the economy.”
Ongoing IR Legislation
Thailand’s pursuit of a legal and regulated online gambling industry coincides with its push for land-based casinos. The Entertainment Complex Bill is currently snaking its way through the country’s legislative system, aiming to permit the establishment of large-scale venues with multiple amenities, including location-based casinos.
Thai government officials suggest the bill will pass by mid-2025. Current legislative discussions involve tax regulations, the number of licenses to issue, and proposed IR locations. The government is expected to issue five permits for IRs in the tourist hotspots Bangkok, Pattaya, Phuket, and Chiang Mai.
