14-1-2025 (BANGKOK) Former Thai Prime Minister Thaksin Shinawatra has thrown his weight behind a bold initiative to legalise online gambling, projecting potential annual government revenues of 100 billion baht ($2.8 billion) from the reform.
Speaking at a Bangkok forum on Monday evening, the influential political figure outlined his vision shortly after the Thai cabinet greenlit draft legislation for casino legalisation. Thaksin, 75, whose daughter Paetongtarn Shinawatra currently serves as Prime Minister, presented compelling statistics about Thailand’s underground gambling sector.
“Our research indicates between two to four million Thais actively participate in online gambling, with collective savings of 300 billion baht and annual transaction volumes reaching approximately 500 billion baht,” Thaksin revealed. “A modest 20% tax implementation could generate over 100 billion baht yearly for state coffers.”
The proposed reform includes sophisticated safeguards against underage gambling and addiction. “We’re developing a passport-style identification system to regulate access and monitor potentially problematic gambling behaviour,” explained Thaksin, though specific details remain under wraps.
Despite gambling’s current illegal status in Thailand, bar a few exceptions, its widespread popularity has prompted successive governments to consider legalisation. Proponents argue the move could create employment opportunities, boost tourism, and transform currently untaxed gambling revenues into legitimate state income.
In a surprising pivot, Thaksin also addressed cryptocurrency adoption, advocating for Thai financial institutions to embrace digital currencies. He particularly emphasised the potential of asset-backed stablecoins, suggesting Thailand’s Securities and Exchange Commission should adopt a more progressive stance toward digital assets.
The former premier disclosed that the government is exploring cryptocurrency payment options, with the tourist hotspot of Phuket potentially serving as a testing ground. “Cryptocurrency represents another global currency option, carrying minimal risk when properly regulated,” Thaksin stated.
