Just hours after the Thai cabinet approved a draft law to legalise casinos, the nation’s political heavyweight Thaksin Shinawatra has advocated for legalising online gambling, suggesting it could yield up to 100 billion baht ($2.89 billion) annually in tax revenue.
During an event in Bangkok on Monday, Thaksin said, “Online gambling has two to four million Thai users with savings of 300 billion baht and gains and losses of about 500 billion per year. If we can tax 20% … we would get more than 100 billion per year.”
Even though Thaksin holds no official role in the government, the 75-year-old former prime minister remains an influential figure in Thai politics. He is widely known as an influential force behind the premiership of his 38-year-old daughter, Paetongtarn Shinawatra.
Meanwhile, Thaksin said that the government is working on a system to control access to online gambling and tax revenues. He also proposed an identification system to regulate access, prevent underage participation, and monitor gambling addiction.
“We would have like a passport to control who can play,” he explained.
The Thai cabinet’s approval of a draft law to legalise casinos marks a major shift in the country’s gambling landscape. Under the plan, large-scale entertainment complexes will house gambling facilities, a move aimed at boosting tourism, creating jobs and driving investment. Prime Minister Paetongtarn Shinawatra said the law, once passed by parliament, would regulate the currently illicit but widespread gambling activities in Thailand.
Thaksin also urged Thailand’s financial institutions to adopt a more digital approach by embracing cryptocurrency, highlighting global trends, including the pro-crypto stance of incoming US President Donald Trump and his appointment of Paul Atkins, a cryptocurrency deregulation advocate, to lead the US Securities and Exchange Commission.
“Allowing trade of stablecoins, or coins that are backed by assets, would modernise our financial system,” he said. Thaksin also revealed that the Thai government is considering a pilot programme in Phuket, allowing cryptocurrency to be used as a form of payment. “There will be no risk; it is just another currency in the world,” he added.
Thailand’s government hopes the legalisation of casinos and online gambling will drive record tourist numbers and increase revenue. Deputy Finance Minister Julapun Amornvivat estimated that the move could lead to a 5%-10% increase in foreign visitor numbers and an additional 120 billion baht to 220 billion baht ($3.45 billion to $6.32 billion) in tourism revenue. He also projected that the initiative would generate between 9,000 and 15,000 new jobs.
“Legalisation will protect the public and would also generate more state revenue,” Prime Minister Paetongtarn said.
While most forms of gambling remain illegal in Thailand, they are widely practised through underground activities. Currently, only state-controlled horse racing and lotteries are permitted. Advocates argue that legalising gambling would help retain revenue that is otherwise lost to neighbouring countries like Cambodia, Singapore, and the Philippines, which have thriving casino industries.
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