The Thai government continues to adjust its plans for land-based casinos. A new proposal was unveiled over the weekend that will have a major impact on the local gambling market.
According to Bloomberg, the bill includes several strict requirements for locals who want to access the proposed casinos. Thai citizens must have at least 50 million baht (approximately $1.5 million) in term deposits for at least six months before gaining access.
According to a report by Money and Banking Magazine, there are 34,357 bank accounts in Thailand with balances exceeding 25 million baht but not exceeding 50 million baht.
So the number of accounts with balances over 50 million baht is likely much lower than this figure. Thailand’s total population is about 72 million.
An entry fee of 5,000 baht will be charged to local visitors who are eligible to gamble. In addition, under the proposed legislation, the size of the casino at each integrated resort will be limited to no more than 10% of the total property area.
These measures are aimed at regulating local participation and mitigating potential negative social impacts associated with gambling.
The Thai government expects that legalizing casinos will attract significant foreign investment, boost tourism, and generate significant annual revenue.
The plan aims to position Thailand as a premier gambling destination in Southeast Asia, potentially competing with established markets such as Singapore.
However, strict entry requirements for locals could discourage investor interest. Analysts suggest that such measures could limit the domestic customer base, making the market less attractive to international operators.
Singapore-based gambling consultant Daniel Cheng said the crackdown would make Thai casinos comparable to those in South Korea, catering mostly to wealthier people.
Despite the government’s economic rationale, public attitudes are largely negative.
A January 2025 survey by the National Institute of Development Management found that 59% of respondents opposed the introduction of integrated resorts, while 69% opposed online gaming.
Critics say the introduction of casinos could exacerbate social problems, including gambling addiction and rising household debt. Thailand already faces high levels of household debt, and opponents fear that legalizing gambling could make it worse.
Politicians including Palang Pracharat Party spokesperson Piya Tawichai have expressed concerns that the move could be harmful, likening it to a “terrible cancer that is destroying our society.”
The draft law is currently undergoing a public hearing that will last until March 1. After this period, the draft will need to receive cabinet approval before being submitted to parliament for debate.
The new law also includes the creation of a new commission to regulate gambling activities and coordinate with investors in the development of integrated resorts. The success of this initiative largely depends on the government’s ability to implement a transparent and reliable regulatory framework.
Experts note that balancing investor interests with social safeguards will be critical in determining the viability and sustainability of the proposed casino industry in Thailand. It is also suggested that the experience of cannabis legalization in 2022 should be taken into account to prevent unintended consequences, emphasizing the importance of clear and effective regulations.
Cambodia, Singapore, the Philippines, Laos, Myanmar and others have already legalized casinos and developed significant gambling industries. These markets attract Thai and Chinese tourists, resulting in a significant outflow of potential revenue from Thailand. By legalising casinos, Thailand aims to recoup these revenues and increase its appeal as a tourist destination.
However, to compete effectively, Thailand must address both the regulatory and societal issues surrounding gambling. The government’s approach to regulation, taxation and social responsibility will play a critical role in shaping the future of the industry and its acceptance in Thai society.
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