Vietnam is Easing Gambling Restrictions as an extra source of income

Last updated on December 4th, 2018 at 06:33 pm

Vietnam is Easing Gambling Restrictions as an extra source of incomeGambling has been illegal in Vietnam ever since the Communist party took over the county in 1975.  This is because gambling is seen as a negative impact on society.  However, in recent years,  gambling restriction have been lowering in the country.  This is because Vietnam is Easing Gambling Restrictions as an extra source of income.

Last year, the government made 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. At the moment, local gamblers are able to gamble in certain venues if they meet certain criteria.

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 made several pilot programs to ease gambling restrictions in the country. In 2013, the state began studying the measure the impact of illegal gambling in the country. Since then, gambling restrictions have been loosening while at the same time cracking down on illegal gambling.

In addition, in 2016, Vietnam made a resolution to allow foreign investors to build casinos in the country.  Furthermore, last year a five-year program was created which allows horse betting, dog racing and football betting. This year, they said that the Bai Dai Integrated Resort will be the first of two casinos where Vietnamese can legally gamble.

Gambling analysts believe that illegal gambling is worth billions of dollars. If they are able to tax it, it could bring a significant increase in revenue 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.

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