Gambling has been illegal in Vietnam ever since the Communist party took over the county in 1975. However, gambling restrictions have been lowered in the country. This is because Vietnam is Easing Gambling Restrictions as an extra source of income.
Last year, the government passed a motion to allow Vietnamese to gamble in selected casinos. In addition, they are also considering expanding on the idea y allowing local gambling in order to raise revenue. Thus, Vietnamese that meet certain criteria can gamble in specific venues.
Amongst those include a monthly income of $45 or more, no criminal history and permission from their family. Vietnamese meeting these criteria are able to purchase a daily pass for $44 which allows them to enter certain casinos.
Gradual Gambling Reforms
In recent years, Vietnam has created several pilot programs to ease gambling restrictions in the country. In 2013, the state commissioned a study to measure the impact of illegal gambling in the country. Many believe this has led to looser gambling restrictions by the government. On the other hand, the government has been cracking down on illegal gambling.
In addition, in 2016, Vietnam passed a resolution to allow foreign investors to build casinos in the country. This year, they announced that the Bai Dai Integrated Resort will be the first of two approved casinos where Vietnamese can legally gamble.
Sports betting software experts believe that illegal gambling is worth billions of dollars. Thus, it could bring a significant revenue increase for Vietnam. Furthermore, by legalizing gambling, it could potentially keep millions of gambling dollars from leaving the country.
This is because $800 million in gambling money leaves Vietnam each year as Vietnamese visit Cambodia and Macau to gamble. The success of the gambling industry in Cambodia has increased the tourist industry by 40% and Vietnam is taking note.
In recent years, Sports Betting in Asia has increased dramatically and countries must adapt in order to profit from it.