World Cup 2014 expected to draw Bt43.53 billion from Thai gamblers

[webfact]

World Cup 2014 expected to draw Bt43.53 billion from Thai gamblers



BANGKOK: -- The upcoming World Cup 2014 is expected to draw Thai soccer fans into betting more with cash from informal markets amounted to as high as 43.53 billion baht.

Thanawat Polvichai, director of the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce (UTCC), said his finding of high amount of informal money to be spent on football bet came from his latest survey of consumers behaviour during the world soccer season to begin in a week.

A total of 69.24 billion baht cash is expected to be spent during the football season, or 16% increase as compared with the last world cup in 2010.

He said spendings are expected to be generated from rising household activities due to late night broadcasts of football matches, and from buying souvenirs.

These spendings in formal money market are amounted to about 25.71 billion baht, he said.

But what was a concern was the spending of informal money for football bet could rise to 43.53 billion baht with one person spending 5,072 baht as bet in one football match, he said.

He said people surveyed were also asked about the possibility of legalising the football bet.

54.4% voiced disagreement reasoning that it could encourage more football betting, while 35% said yes but must be run by the government, he said.

But 10.6% wanted the private sector to operate the betting business.

Dr Thanawat said there was high risk of increasing informal loans among low income earners and students from borrowing and spending money from informal markets in the football bet.

Non performance loan could rise due to growing trend of defaulting payments, he said.

However if bad loans from football bet is excluded, he voiced optimism of easing non performance loan situation in the third quarter as the result of economic recovery.

Meanwhile, deputy police commissioner Pol Gen Ake Angsananont, responsible for crime suppression, has announced to shut down all football gambling rings.

He said that the move was in compliance with the National Council for Peace and Order (NCPO)’s strict policy to eradicate crime within all vicinities of Bangkok, especially by removing gambling dens and illegal slot machines.

As the World Cup 2014 is only a week away, the police are set to prevent all football fans from being involved in any betting forms. Gambling den owners who violate the rules would be held fully responsible, he said.

Even though the sensational sporting event is enjoyed by millions worldwide, it is also a time where many lose their fortunes by engaging in illicit gambling activities, he added.

Source: http://englishnews.thaipbs.or.th/world-cup-2014-expected-draw-bt43-53-billion/

-- Thai PBS 2014-06-05

[EnzoRippo]

Well the figure is not 43.53 billion , not precise enough. This is 43,532,635,206.75 thb

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[LuckyLew]

and gambling is illegal in Thailand

Set up casino\s and sports books in all major cities and tourist destinations

and watch the money role in

[UbonRatch]

"...high risk of increasing informal loans among low income earners and students from borrowing and spending money..."

How times have changed.

I can't even remember it crossing my mind to bet on World Cup football, or bet in any way, manner or form on anything, when I was a student.

[jucel]

Possibly the worst gamblers in the world too!!!!!!!

[ginjag]

Possibly the worst gamblers in the world too!!!!!!!

Starting in near all villages, controlled by usually one person charging 200 baht to enter the house, and mafia style players who prey on the unsuspecting mug who comes in to try to get extra cash for the family etc.

At least one loan shark will be present to collect deeds of properties in return for cash enabling the loser to clear debts.

This is normal here, and local police know of these places, and it's known that 10,000 baht handed over to cover the blinkers.

[jucel]

Possibly the worst gamblers in the world too!!!!!!!

Starting in near all villages, controlled by usually one person charging 200 baht to enter the house, and mafia style players who prey on the unsuspecting mug who comes in to try to get extra cash for the family etc.

At least one loan shark will be present to collect deeds of properties in return for cash enabling the loser to clear debts.

This is normal here, and local police know of these places, and it's known that 10,000 baht handed over to cover the blinkers.

Wow, much worse than I thought. Most of my experiences with Thai gamblers has been outside Thailand. My original comment was based on those experiences. Time after time I have seen Thai people make a lot of money, but then squander it all within hours, days. A good gambler knows when to call it quits and accept they have had a 'good run'. I find that Thais will just keep going til they lose everything. They don't seem to understand the concept of what goes up must come down!

[webfact]

Bt70 billion expected to circulate during 2014 World Cup: UTCC Survey
By Digital Content

BANGKOK, June 5 -- The University of Thai Chamber of Commerce (UTCC) forecasts that some Bt69.245 billion will circulate in Thailand during the one-month-long 2014 FIFA World Cup, starting next Thursday in Brazil.

UTCC Economic and Business Forecasting Centre director Thanawat Polvichai today released the survey result on “Effects of 2014 FIFA World Cup on Thai Economy and Society”, saying that Thai spenders, mostly soccer fans, are expected to spend some Bt69.245 billion during the 20th FIFA World Cup between June 12 and July 13, representing a 16 per cent increase from the previous tournament four years ago.

The survey was conducted on 1,229 people nationwide between May 20 and 29.

Most spending--some Bt43.53 billion--however, will be drawn to illegal activities, such as gambling, a 17 per cent growth from the previous tournament, Dr Thanawat said.

He said the number of gambling soccer fans was also expected to increase during this year World Cup and they will bet on average some Bt5,072 on each match.

He said the proportion of people who gambled for money only was expected to increase to 51.3 per cent in this year tournament, against around 33 per cent during the previous tournament.

The remaining spending will be on domestic activities as matches kick off during night time in Thailand, said Dr Thanawat.

He said spenders are expected to spend some Bt25.715 billion on snacks, drinks, set-top boxes and souvenirs. (MCOT online news)


-- TNA 2014-06-05

[ginjag]

Possibly the worst gamblers in the world too!!!!!!!

Starting in near all villages, controlled by usually one person charging 200 baht to enter the house, and mafia style players who prey on the unsuspecting mug who comes in to try to get extra cash for the family etc.

At least one loan shark will be present to collect deeds of properties in return for cash enabling the loser to clear debts.

This is normal here, and local police know of these places, and it's known that 10,000 baht handed over to cover the blinkers.

Wow, much worse than I thought. Most of my experiences with Thai gamblers has been outside Thailand. My original comment was based on those experiences. Time after time I have seen Thai people make a lot of money, but then squander it all within hours, days. A good gambler knows when to call it quits and accept they have had a 'good run'. I find that Thais will just keep going til they lose everything. They don't seem to understand the concept of what goes up must come down!

32 years here mostly in very small villages and mainly in Issan, normal for me to come across hardship of locals. World cup ??? well not that many local issan villagers wil be gambling on the world cup, most older families don't know what the world cup is.

Large towns -cities will be where students and the like will bet. Make a change from cock fight and Thai boxing booths.

[bigbamboo]

Thai gamblers?

Another Buddhist precept bites the dust.

[surangw]

and gambling is illegal in Thailand

Set up casino\s and sports books in all major cities and tourist destinations

and watch the money role in

much more to be made by the bib in payoffs to let it continue illegally

[espinoza]

But gambling is not allowed in Thailand. Arrest the criminals. The fight against gambling has higher priority in Thailand than the fight against road kills. Probably a very good prioritising from all the Thai governments since the second world war. And it still continuing. What about road safety ??????

[surangw]

But gambling is not allowed in Thailand. Arrest the criminals. The fight against gambling has higher priority in Thailand than the fight against road kills. Probably a very good prioritising from all the Thai governments since the second world war. And it still continuing. What about road safety ??????

investigations and arrests raise the cost of tea money

[dtaanic]

As usual such statements are BS, Thai police will not enforce it as it would be a loss for the legal mafia.

I see everyday police come and collect money at a gambling place.

[noitom]

This World Cup is a big event and Thais want so much to be part of it. Therefore, they raise up interest by discussing how pervasive illegal gambling is and then state that police are duty bound to repress gambling. Everyone know that this is Thai hypocrisy. Why don't the newspapers just come out and state so instead of engendering a mania about getting in on it? It is or it isn't illegal? Why doesn't the military dictatorship put a stop to it knowing that it's the bookmakers and loan sharks operating the betting networks? The military and the police seem to be hypocritical about this illegal gambling trade which preys off mostly poor Thais.

[Jim walker]

and that's only from Nando on Soi 8

[TinoThailand]

And over there they clean up the streets already for the tourists, you must "love" football.

[TinoThailand]

As usual such statements are BS, Thai police will not enforce it as it would be a loss for the legal mafia.

I see everyday police come and collect money at a gambling place.

The number 1 gamblers are police officers in Thailand.

[Carnlough]

As usual such statements are BS, Thai police will not enforce it as it would be a loss for the legal mafia.

I see everyday police come and collect money at a gambling place.

The number 1 gamblers are police officers in Thailand.

Anybody know where on TV I watch some Games.......before I make a Bet.....

[belg]

and i tought gambling was illegal in this country, looool.. why dont they start things like LADBROKE overhere, good money for the tax governement as thai people are serial compulsive gamblers...

good the rice farmers got their 100.000+ baht on time from the army, now they can try to double or lose it all

[wirat69]

But gambling is not allowed in Thailand. Arrest the criminals. The fight against gambling has higher priority in Thailand than the fight against road kills. Probably a very good prioritising from all the Thai governments since the second world war. And it still continuing. What about road safety ??????

Just to put the record straight, it was His Majesty King Chulalongkorn (King Rama V) who outlawed gambling in the Kingdom, primarily to protect families from drunken spendthrift fathers... nothing to do with WW2... and there was nary a motor vehicle beyond Rajadamnoern, Dusit, Yaowarat and Sala Daeng... though come to think of it, boarding a canal boat nowadays is a bit of a gamble!!

[dotpoom]

Possibly the worst gamblers in the world too!!!!!!!

Starting in near all villages, controlled by usually one person charging 200 baht to enter the house, and mafia style players who prey on the unsuspecting mug who comes in to try to get extra cash for the family etc.

At least one loan shark will be present to collect deeds of properties in return for cash enabling the loser to clear debts.

This is normal here, and local police know of these places, and it's known that 10,000 baht handed over to cover the blinkers.

Made my stomach turn when I read your post....it brought back so many bad memories of standing for hours on end in betting shops (when they weren't modernized like they are today) and slouching home with not a penny in my pocket. I will always remember a man saying to me on one occasion..."That he would give anything to be in the position he was in before he walked into the shop that day". I have given that sentence lots of thought over the years....... so now I just don't walk into the shop. Another addiction I had/have was Alcoholism......likewise, I just don't take the first drink.

Of course that is easier said than done but I have not partaken or suffered from either for 12 years now, I had no power over either....now I have all the power in the world that i will ever need. Thank God for that.

Edited June 6, 2014 by dotpoom

[sacra7]

Please let me control my own money and my life i think i earn it

[Carnlough]

Come on Lad and Ladies............where can I watch The Football.......HELP PLEASE.........

[lostmebike]

How much of this figure will be comprised with cars and houses drunks have decided to throw away?

[khunken]

Come on Lad and Ladies............where can I watch The Football.......HELP PLEASE.........

Check out: www.365sport.tv

[Chao Lao Beach]

I reckon there is going to be some cheap land, cars etc available after this world cup.

[iliailiailiailia]

_{and "the nederlands" will win !WK 2014}