Thailand Proposes Strict $1.5 Million Fixed Deposit Requirement for Local Casino Entry
PUBLISHED: February 17, 2025
Thailand has unveiled new and stringent entry requirements for local gamblers in an effort to develop its gaming industry and boost tourism, as highlighted in a recent draft regulation. If implemented, these requirements could significantly impact investor interest in the sector.
According to the draft issued by the Office of the Council of State, Thai nationals will be required to maintain a minimum of 50 million baht in fixed deposits for a period of six months in order to gain entry into casinos. This regulation aims to ensure that only financially capable individuals can participate in gaming activities.
Additionally, there will be an entry fee limited to 5,000 baht, effectively restricting access to the upper middle class and wealthier demographics of the Thai population, especially considering the per capita gross domestic product is roughly $7,300. Despite the ban on most forms of gambling in Thailand, illegal betting remains prevalent, and local players are seen as a vital attraction for foreign investors closely monitoring the draft law.
A recent report indicated that approximately half of the population aged 20 and older could potentially engage in casino gambling, positioning Thailand as a prospective contender for becoming the world’s third-largest gambling destination.
Experts believe the proposed 50 million baht deposit requirement could render Thai casinos equivalent to foreigner-only regimes, limiting domestic participation further.
Public hearings on the draft law are scheduled from February 15 to March 1, after which the proposal must receive cabinet approval before moving to parliament for further discussion.
While gambling is permitted in state-run horse racing, lotteries, and select sports betting, many Southeast Asian nations have legalised casinos with varying degrees of success. The Thai government seeks to attract over 100 billion baht in new investment, anticipating a 5% to 10% increase in foreign arrivals, which could generate upwards of 12 billion baht annually.
Furthermore, the draft regulation specifies that casino areas may only encompass up to 10% of the entire complex space.
Tourism remains a crucial pillar of Thailand’s economy, with expectations of 38 million foreign arrivals this year, approaching pre-pandemic levels of nearly 40 million. However, recent opinion polls reveal that a majority of Thais oppose the casino proposal, with concerns raised by several political factions regarding the potential social implications of establishing a gambling industry.
