Thailand has begun to tighten its rules when it comes to casino access. The country has set entry limits for each person. If you don’t meet the requirements, you won’t be allowed to enter.
Thai People Enter Casino Must Have Million Dollar Accounts
Thai People Who Want To Enter Casinos Must Have Million Dollar Accounts
Thailand on February 17 announced a draft of strict regulations to restrict its citizens from gambling at Casino, 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 that they have at least 50 million baht ($1.5 million) in fixed deposits for at least six months, to be able to gamble at casino.
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.
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Casino Entry Requirements In Thailand
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 widespread, 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.
A Citi report estimated that half of Thailand’s population aged 20 and over could be gamblers by the end of 2024. Setting the stage for the country to become the world’s third-largest gambling destination.
The high entrance fee of 5,000 baht would limit access to casinos. Which are only affordable to Thailand’s upper, middle and wealthy classes, according to consultant Daniel Cheng.
New public hearings on the 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 certain 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 annual foreign visitor numbers by 5% to 10%. And generate more than 12 billion baht in revenue a year.
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