Gambling To Hike Spending During Euro 2012: UTCC Poll

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FOOTBALL

Gambling to hike spending during Euro 2012: UTCC poll

Petchanet Pratruangkrai

The Nation

BANGKOK: -- Some Bt65 billion is expected to spur the economy as a result of the upcoming Euro 2012 soccer tournament, of which gambling on matches will account for an estimated Bt41.7 billion, according to a survey by the University of the Thai Chamber of Commerce (UTCC).

The amount represents an 8.1-per-cent increase over tournament-related spending during the 2010 Fifa World Cup in South Africa.

However, despite higher spending during the Euro 2012 tournament benefiting the overall economy, the expected huge outlay on gambling could create economic problems as well as difficulties for society, Thanavath Phonvichai, director of the UTCC's Economic and Business Forecasting Centre, said yesterday.

It seems that people of late have shown less of an interest in football matches themselves than in the potential benefits of gambling during a time of economic slowdown, he said.

The total value of gambling in Thailand is estimated at between Bt800 billion and Bt1 trillion a year, he added.

The UTCC poll of 1,196 people showed that 43 per cent of respondents expected to make a return from gambling during the tournament in Poland and Ukraine from June 8 to July 1, while the figure was only 30 per cent during the last Euro finals in Austria and Switzerland in 2008.

Besides the financial motive for gambling, other stated reasons for betting are doing so for fun, because of persuasion by friends, and because it is a trendy thing to do.

The poll also showed that people are likely to bet 63 per cent more in financial terms than they did during the last World Cup, with the average per respondent being Bt8,138 per match.

Thanavath said the trend would lead to more crime, debt and social problems, while damaging the futures of a great number of young people, as the majority of soccer gamblers are teenagers.

When asked whether football betting should be made legal, 65 per cent of respondents said it should not be, because people racked up too much debt and could become addicted to having a wager, while 25 per cent said the government should open up gambling itself and 10 per cent said it should be openly operated by private enterprises.

Besides spending on gambling, the poll results suggested that Bt19.67 billion would be spent on food, drink and parties during the tournament, Bt2.25 billion on electric appliances and on cable-TV installations, and Bt1.29 billion on souvenirs, newspapers and postcards.

Wachira Khuntaweethep, lecturer at the university, said utility bills are also expected to increase by 52.1 per cent during the tournament compared with normal circumstances.

On a more general level, the poll showed that people's greatest worry remained the higher cost of living.

-- The Nation 2012-05-30

[drdoom6996]

I thought gambling in Thailand was illegel? 1TTTTTrillion baht a year. Obciously it is not only the gamblers making money. Someone has a great protection racket going. I wonder what color they are dressed in?

[gand]

I thought gambling in Thailand was illegel? 1TTTTTrillion baht a year. Obciously it is not only the gamblers making money. Someone has a great protection racket going. I wonder what color they are dressed in?

So did I? They obviously need to legalize it and tax it.

[Narratio]

Gambling is illegal?

Hang on, my neighbour is a police officer, his wife has a few friends round every day to play cards, I'll ask her about the legality of gambling, she's bound to know. After all she does finance the lottery number betting syndicate.

It'll also give me a chance to buy a lottery ticket from the seller on the corner as well. No, don't worry, my wife bought a Thai magazine (it's published weekly) that gives advice about what numbers are lucky for you. It's got to be true, they have pictures of monks in it and everything, so I know my good numbers.

Yesireee, I feel a winner coming on!

[osiboy]

WHATEVER !.............germany to beat spain in the final,..............you saw it here 1st !

[Thai at Heart]

Well, what are the odds on that?

[osiboy]

Well, what are the odds on that?

just to be the final 2 is 9/1 ,.... i will be putting a few quid on a 3-2 win for germany , if you put that on before it starts you would get around 66/1, if you wait until they meet in the final you should get between 25/1 and 33/1 for a 3-2 result either way, chok dee