Vietnam Considers - Online Casino Style

11/03/2008		Vietnam Considers
Home History Games News Dictionary		After years of discussions Vietnam has announced that it is seriously considering the legalization of internet casinos. The proposals crafted by the Ministry of Finance along with the Ministry of Planning and Investment would allow the Government to draw tax revenues and have more control in managing the gambling sites. At the current time these proposals have only been submitted to the Government for consideration. If accepted the Asian nation would attempt to promote the idea of online gambling as a national pastime. Because of this the Government will ensure the sound operation of gambling services providers, prevent potential collusion that are commonly linked with gambling activities and preserve the interests of genuine gamblers by acquiring special regulations. The only form of gambling that was legal in Vietnam was the state run lottery until 2003. Four land based casinos have opened up in the country since then, by the Government, to offer gambling to foreign guests. The government of Vietnam also suspects that there are over two hundred illegal gambling services in their country based on daily lottery results. So offering at home gambling via the internet could subdue a majority of eager gamblers to stay home and obey the law instead of go out and break it. Each of these illegal gambling rings makes an estimated $31,300 up to hundreds of thousands of dollars a day. With the state run lotteries already making 2.4 percent of Vietnam's gross domestic product and that number rising 22 percent a year, Vietnam is looking to capitalize the money made in illegal markets.

11/03/2008

Vietnam Considers

After years of discussions Vietnam has announced that it is seriously considering the legalization of internet casinos. The proposals crafted by the Ministry of Finance along with the Ministry of Planning and Investment would allow the Government to draw tax revenues and have more control in managing the gambling sites.

At the current time these proposals have only been submitted to the Government for consideration. If accepted the Asian nation would attempt to promote the idea of online gambling as a national pastime. Because of this the Government will ensure the sound operation of gambling services providers, prevent potential collusion that are commonly linked with gambling activities and preserve the interests of genuine gamblers by acquiring special regulations.
The only form of gambling that was legal in Vietnam was the state run lottery until 2003. Four land based casinos have opened up in the country since then, by the Government, to offer gambling to foreign guests.

The government of Vietnam also suspects that there are over two hundred illegal gambling services in their country based on daily lottery results. So offering at home gambling via the internet could subdue a majority of eager gamblers to stay home and obey the law instead of go out and break it. Each of these illegal gambling rings makes an estimated $31,300 up to hundreds of thousands of dollars a day.

With the state run lotteries already making 2.4 percent of Vietnam's gross domestic product and that number rising 22 percent a year, Vietnam is looking to capitalize the money made in illegal markets.