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Potential Obstacles Cloud Prospects of Tapping Thai Gambling Operations.
Byline: Wichit Sirithaveeporn
Jul. 1--By some measures, the amount spent on illegal gambling, underground lotteries and football betting each year reaches as much as 1.2 trillion baht a year.
Researchers at Chulalongkorn University estimate that from 1993 to 1995, illegal gambling contributed as much as 277 billion baht a year in added value to the economy.
Billions of baht are estimated to have changed hands in bets on the World Cup over the past month, ranging from friendly office football pools of just 20 baht per match to bets ranging into millions of baht and involving gambling syndicates around the region.
For policymakers, the allure of tapping into the public's love of gambling as a source of potential tax revenue is strong. Given the near impossible task of eliminating gambling, why not acknowledge the practice, impose regulations to prevent cheating and, in the process, generate revenue which can be used to help ...
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