Cambodia enacts new laws related to gambling. - page 2.

rodskee

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Quote from: AicecreaME on December 15, 2020, 06:05:40 AM

Quote from: fiulpro on December 10, 2020, 01:55:46 PM

What are your thoughts on this ?
Should such actions be taken by other countries too ? What's stopping them though?

A big applause for the Cambodian Government giving a fair gambling site to its people. If the probably "fair" is really a fair one, then it is a good step on solving gambling addiction that leads to poverty of certain individuals. They don't also ask for too big tax on the casino to balance it, it's a give and take for both parties.

They are just doing what they think will improve their government as Gambling nowadays are getting higher revenue in every places their presence is popular,Even countries that formerly strict like cambodia and Japan is now making this way to attract gamblers and gambling community.

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Other countries (especially the third world ones) should also implement such thing to solve poverty slowly as well. But I think they are torn on making decisions, since asking big taxes to casinos would benefit the whole country than favoring to those gambling addicts that don't have anything to do than gambling.

Many third world countries has a slightest rules towards gambling because they already knew the advantage of having many gambling operators and gamblers in their respective places.

yazher

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Quote from: bryant.coleman on December 14, 2020, 11:23:23 AM

Quote from: ?? on ??

Yes, they are I hope that this thing can help their economy too, for them to create more funds for their infrastructure and security, it can create different jobs that can help their citizens, there's a lot of opportunity for this if they will continue to support gambling industry, in my country most of the gamblers are foreigners but I think the law is not equal in here for locals and foreigners.

From what we have seen, prohibition never work against gambling. It is similar to certain other sectors. Look at Saudi Arabia. Alcohol is banned there. But in every nook and corner, you can find cheap supply of locally brewed liquor. Cannabis is banned in India. But you can find tens of millions of people, who use the stuff regularly. And countries where gambling is banned have the largest per capita population of gamblers. Legalizing gambling can bring down the crime rate, increase tax revenues and create new employment.

People always look for a way to play especially those people who are already long addicted to gambling. The only difference is the authority in the lowest sectors, if they act as a discipline as their leaders then there can't be any anomaly in their respective cities. Aside from this new law, I think its the best for them to check every official's bank account history if there is something to see. If they really wanted some changes in their economies.

AicecreaME

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Quote from: fiulpro on December 10, 2020, 01:55:46 PM

What are your thoughts on this ?
Should such actions be taken by other countries too ? What's stopping them though?

A big applause for the Cambodian Government giving a fair gambling site to its people. If the probably "fair" is really a fair one, then it is a good step on solving gambling addiction that leads to poverty of certain individuals. They don't also ask for too big tax on the casino to balance it, it's a give and take for both parties.

Other countries (especially the third world ones) should also implement such thing to solve poverty slowly as well. But I think they are torn on making decisions, since asking big taxes to casinos would benefit the whole country than favoring to those gambling addicts that don't have anything to do than gambling.

peter0425

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Quote from: Trinx01 on December 14, 2020, 08:33:38 AM

I have good thoughts about this news, it seems like they are supporting the world of gambling in their country, maybe they see the good potential of gambling that could help their economy to be better in the future and to recover from the crisis. It is somehow like whenever a gambler loses their money it will benefit the casino bling on which it would also help to have more tax for the government which may help the economy. It is the money of their citizen who will help them from crisis.

This is an obvious support mate because none government will reenact their taxation laws if they are not favoring the said area of business.
and most specially in gambling in which i believe Cambodia tend to be strict and just now they are being polite in treating this business.
Let's see how it change and what is the positive effect in future,But with this i'm sure many of the foreign gamblers will look into this and consider visiting their country for gambling experience.

ethereumhunter

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Quote from: Sithara007 on December 14, 2020, 12:43:02 AM

Quote from: ethereumhunter on December 14, 2020, 12:35:28 AM

Behind the people who are getting luck on betting, many people are losing their money, whether it's the poorest or even people who have money. But not all people willing to pay taxes, especially if they come from the gambling industry, because they think that I already pay taxes, and I don't need to pay another tax anymore. However, when the government uses the regulations about gambling, all people who are playing gambling need to follow and pay the taxes based on the government's amount.

Obviously when someone gambles and win a bet, someone else is losing his money. It is similar to cryptocurrency trading. That said, a lot of these gamblers are individuals who received money through illegal means. When they indulge in gambling, some of this money gets distributed to hard working people, in the form of taxes and casino charges. So you don't need to worry too much about people losing money as a result of gambling. Obviously there are ordinary people who gets addicted to gambling and get their lives ruined as a result of it. But their behavior should not be used to attack the gambling industry.

I heard that news too. But we can not blame people who received money illegally because I think it is hard to track where the money sources. Maybe if the casino knows that they use the money illegally, the casino can ban that person or do something, so the casino doesn't get a problem from the government. You are right, and we do not need to worry about that because we don't get the impact. Even if we get the impact, our lives are not ruined because we can take care of ourselves.

bryant.coleman

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Quote from: ?? on ??

Yes, they are I hope that this thing can help their economy too, for them to create more funds for their infrastructure and security, it can create different jobs that can help their citizens, there's a lot of opportunity for this if they will continue to support gambling industry, in my country most of the gamblers are foreigners but I think the law is not equal in here for locals and foreigners.

From what we have seen, prohibition never work against gambling. It is similar to certain other sectors. Look at Saudi Arabia. Alcohol is banned there. But in every nook and corner, you can find cheap supply of locally brewed liquor. Cannabis is banned in India. But you can find tens of millions of people, who use the stuff regularly. And countries where gambling is banned have the largest per capita population of gamblers. Legalizing gambling can bring down the crime rate, increase tax revenues and create new employment.

Trinx01

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I have good thoughts about this news, it seems like they are supporting the world of gambling in their country, maybe they see the good potential of gambling that could help their economy to be better in the future and to recover from the crisis. It is somehow like whenever a gambler loses their money it will benefit the casino bling on which it would also help to have more tax for the government which may help the economy. It is the money of their citizen who will help them from crisis.

Sithara007

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Quote from: ethereumhunter on December 14, 2020, 12:35:28 AM

Behind the people who are getting luck on betting, many people are losing their money, whether it's the poorest or even people who have money. But not all people willing to pay taxes, especially if they come from the gambling industry, because they think that I already pay taxes, and I don't need to pay another tax anymore. However, when the government uses the regulations about gambling, all people who are playing gambling need to follow and pay the taxes based on the government's amount.

Obviously when someone gambles and win a bet, someone else is losing his money. It is similar to cryptocurrency trading. That said, a lot of these gamblers are individuals who received money through illegal means. When they indulge in gambling, some of this money gets distributed to hard working people, in the form of taxes and casino charges. So you don't need to worry too much about people losing money as a result of gambling. Obviously there are ordinary people who gets addicted to gambling and get their lives ruined as a result of it. But their behavior should not be used to attack the gambling industry.

ethereumhunter

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Quote from: Hippocrypto on December 13, 2020, 06:05:58 PM

Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

Taxation really matters when an income wasn't able to meet the minimum standard based on government regulatory bracket. That's good that they've been doing this for the benefit of people since, this country is one of the poorest. However, gambling in general was not good for those who struggle for poverty but there's still people who managed to seek their luck on betting. Partly it's also their form of entertainment as well as stress reliever

Behind the people who are getting luck on betting, many people are losing their money, whether it's the poorest or even people who have money. But not all people willing to pay taxes, especially if they come from the gambling industry, because they think that I already pay taxes, and I don't need to pay another tax anymore. However, when the government uses the regulations about gambling, all people who are playing gambling need to follow and pay the taxes based on the government's amount.

bryant.coleman

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Quote from: peter0425 on December 13, 2020, 10:54:56 PM

Cambodia wanted to be close in the competition of great gambling countries.Macau is not far from them same as singapore and Philippines so they wanted to get closer to compete with them internationally .

For the Chinese gamblers, Macau is nearby and accessible by high-speed train. On the other hand, Cambodia lies thousands of miles to the South, and is accessible only by air travel. But then there is a generalization that Macau is a highly expensive destination. So for low-budget gamblers, Cambodia can be an attractive destination, if they do the marketing properly.

peter0425

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Quote from: magneto on December 13, 2020, 05:01:19 PM

The tradeoff is that tax havens generally don't have a lot of actual regulation since their sole purpose is to attract foreign investment into the gaming industry, and to sit there and collect any taxation revenues coming their way.

i think that's every government wants and so as the operators?gain players and earn more?what would be the other motive behind these kind of changing rules?

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As long as they are getting their share, they wouldn't mind letting shady operators retain their license.

I think cambodia is strict in their policies so this is not just about shady operators but instead to gain more players.

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But if this is not an issue, then I'm all for it. It makes a lot of sense for these developing nations to secure FDIs whenever they possibly can, and the gambling industry is certainly a big fish to fry if they can successfully attract a few to register there (if companies deem lower taxes as a sufficient tradeoff less regulatory stability, that is).

Cambodia wanted to be close in the competition of great gambling countries.Macau is not far from them same as singapore and Philippines so they wanted to get closer to compete with them internationally .

Sithara007

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Quote from: madnessteat on December 13, 2020, 01:52:44 PM

Despite a very high level of corruption, Cambodia has recently developed at a fairly rapid pace. Foreigners are happy to invest in the economy of Cambodia. Who knows maybe soon Cambodia will become one of the most famous places where millions of tourists will come for gambling.

Foreigners are flocking to invest in Cambodia, because the real estate market is underpriced and the labor is extremely cheap. And given the recent economic growth, we can expect any business venture set up within the next few years to give very high returns during the next decade or so. But then overtaking Macau or Hong Kong as gambling destination will be a very tough task.

Hippocrypto

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Quote from: Shasha80 on December 12, 2020, 07:21:28 PM

Good news for Cambodian residents who really like gambling, because the taxes they have to pay are low compared to other countries.
Perhaps the government of Cambodia realizes that the income of the people of Cambodia as a third world country is not very good,
so the tax imposed is adjusted to the income of the people of Cambodia. Moreover, with the enactment of new laws related to gambling,
making gambling in Cambodia can be an attraction for tourists who want to vacation and play gambling. If this happens, it will increase
the revenue of the Cambodian government.

Taxation really matters when an income wasn't able to meet the minimum standard based on government regulatory bracket. That's good that they've been doing this for the benefit of people since, this country is one of the poorest. However, gambling in general was not good for those who struggle for poverty but there's still people who managed to seek their luck on betting. Partly it's also their form of entertainment as well as stress reliever

magneto

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The tradeoff is that tax havens generally don't have a lot of actual regulation since their sole purpose is to attract foreign investment into the gaming industry, and to sit there and collect any taxation revenues coming their way.

As long as they are getting their share, they wouldn't mind letting shady operators retain their license.

But if this is not an issue, then I'm all for it. It makes a lot of sense for these developing nations to secure FDIs whenever they possibly can, and the gambling industry is certainly a big fish to fry if they can successfully attract a few to register there (if companies deem lower taxes as a sufficient tradeoff less regulatory stability, that is).

XCANA

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This will be something big any reasonable government will do to better the life of the citizens as the world is facing something strange which has crumbled the world economy. For Cambodia government to enact such new laws regarding gambling in the land means, they need more revenue generation to finance the country. The good news about this initiative from the government is, they will attract more investors into the country which will generate more revenue than before.

madnessteat

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Quote from: mardaed on December 13, 2020, 11:12:08 AM

The government of Cambodia are stepping up their management by manifesting what seems to be beneficial and can be of help to their country, and that is the gambling industry. Being categorized as a poor country, in my opinion, would mean and be rooted on how its resources and assets are being managed. I believe all nations are rich in resources but the management and usage of these are what determines whether a nation will become prosperous or scarce.

Despite a very high level of corruption, Cambodia has recently developed at a fairly rapid pace. Foreigners are happy to invest in the economy of Cambodia. Who knows maybe soon Cambodia will become one of the most famous places where millions of tourists will come for gambling.

Becky666

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Quote from: Saisher on December 13, 2020, 03:44:14 AM

All I know is gambling is illegal in Cambodia but by changing their laws that benefit their gamblers operators, can only mean that they are changing their direction and wants to focus on their tourism and adding more revenues through gambling, many country will implement this kind of laws and they want to take this opporturnity to be a step ahead.

That's the simple truth, Cambodia government will definitely have made this announcement base on their economy dwindling which need s greater support from tourist. This law will surely attract more tourist and gamblers that are much interested in gambling, also, we should not forget that, gambling companies will start entry the Cambodia for this benefit that they will get if they invest or launch gambling platform in the country. Is a golden opportunity to ease out economy hash in the land.

mardaed

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The government of Cambodia are stepping up their management by manifesting what seems to be beneficial and can be of help to their country, and that is the gambling industry. Being categorized as a poor country, in my opinion, would mean and be rooted on how its resources and assets are being managed. I believe all nations are rich in resources but the management and usage of these are what determines whether a nation will become prosperous or scarce.

carlisle1

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Quote from: jrrsparkles on December 13, 2020, 12:49:23 AM

Quote from: carlisle1 on December 12, 2020, 10:56:34 PM

It is Myanmar(Burma) is the Poorest country in southeast Asia and Second is Cambodia Followed by Timor-Leste according to the 2019 economic report

https://www.worldatlas.com/articles/the-richest-and-poorest-countries-of-southeast-asia.html

But yeah they maybe the poorest when it comes to Gambling hosting country as they have hosted a Poker competition sometime.

THis more will try to attract more gambling businesses and gamblers from local to tourists.

Hope to have good outcome.

Atleast their government is trying something to bring revenue to their economy from outside of their country but many government tries to increase the tax rate simply to make more money whenever they need it.

Thats why i wrote the Highlighted part because i believe in their good intention and their capacity to do so.

it's not that because we are poor we cannot do anything to make things grow at least we will have a goal and dedication and doing our best to have a great result.

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Cambodia is poorest but I guess that place is filked with natural resources so if they are good at producing valuable things then they can make good money as well.

No one Made them degraded here, being poorest is not a insult but a challenge ,if someone called for your defect don't feel insulted but be thankful at least they are mentioning the things you must enhanced and improve . then soon will face them again and laugh at them because while you are improving they stayed in same situation when you last see them.

ice098

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Quote from: Mauser on December 13, 2020, 05:01:37 AM

Quote from: Alucard1 on December 13, 2020, 03:23:43 AM

This is a good move for Cambodia, they let their countries benefit from their decision. They know that gambling could give good them a positive result for their economy which is really true and I am really impressed with that because in our country they don't even see the positive sides that gambling can give to us, they only see it as a negative that may give some negative impact for every gambler that is why gambling is still considered as illegal in our country.

People want to gamble no matter what, if it's legal or not. If the government doesn't allow gambling in a country it will just move into the underground and happen in private casinos without the government noticing. One bad thing of that practice is that the government is getting no tax revenues. A low gambling tax is optimal as it encourages foreign gambler to come to the country which will also spend money in other sectors, like tourism or shopping. In my opinion there is only upside potential for a well regulated gambling sector in a country.

Gambler will always be a gambler even if the taxes and ghe transaction fees are high, gamblers will always find a way to vet involve in it. Well, it is maybe the reason why many countries today are considering of legalization of gambling in their society its because they have rest assured that their government can get a profit from it because the customer wasn't their people only but also foreign gamblers. And yes to be able to attract foreign gamblers the tax of 4%-7% need to be lessen.

Topic: Cambodia enacts new laws related to gambling. - page 2. (Read 776 times)