Cambodia enacts new laws related to gambling. - page 5.

kryptqnick

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Quote from: fiulpro on December 10, 2020, 02:55:46 PM

So a good news for all the players from Cambodia , the government is now enacting new laws to make the games more fair for the people. The tax on gaming will be 4% and 7% will be on recreational gaming , which is much less than other countries.
https://www.gamblingnews.com/news/cambodia-introduces-and-enacts-new-gambling-law/
The gambling committee will further look into that matter and at the same time this would mean that players will get a better and fair play which would inturn 11 government ministers who will actually form this law.
They will have a specific favoured zone in which gambling will be permitted. Now these conditions won't just be fair for the government but it would be fair for both the people and the companies involved.
This is a much needed step which every country needs to take soon.

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A new watchdog known as the Integrated Resort Management and Commercial Gambling Committee will be in charge of enforcing the new regulation.

The watchdog will include 11 government ministers to be shortlisted and approved soon. Cambodia will now designate special pre-approved zones where gambling operations can take place as well as assign prohibited areas of operation.

The country will also assign a special “favored zone” status, which means that the government may permit gambling operations there in future.

Cambodia’s new regulatory framework is a first attempt by the country to enforce laws that allow authorities to regulate gambling with fairness and seek fairer gaming conditions for everyone.

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

It's better to have gambling regulated than unregulated, and I'm glad another country moved forward. However, I don't think people should pay taxes for gambling. Casino owners should pay the taxes similar to those of any other business, but why individual people who are gambling in the casino would do this? But the tax rate is very reasonable, so it might just work. Another question I have if whether these regulations cover online gambling because it might be regulated (or not regulated) separately. Finally, would these be a procedure for crypto online gambling to be legal in Cambodia?

South Park

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Quote from: Lorence.xD on December 11, 2020, 01:39:38 AM

What do they mean with fairer gambling and gambling conditions? Are they having a problem with the services or the legality because it seems to lean more on services. How come players are getting unfair plays in gambling houses for a long time?

I do not know much about Cambodia but this law seems to be a positive for players and the tax seems to on the low side of the spectrum, 7% seems to be not a good number for me. I do not get why the government take on this lower percentage when they could have imposed higher, gambling will always flourish and for me, if they want a big piece of that gambling pie, they should get their hands to a bigger percentage.

It seems people have different opinions about that tax, some see it as a high tax while others like you see it as kind of low, in my country that tax is way higher and I can tell you it has affected casinos greatly especially during this pandemic since they did not had money to spare to deal with the crisis and many of them have close their doors, so while a high tax could get governments good short term profits in the case of a crisis it will diminish their income greatly and maybe the Cambodian government does not want to pressure the gambling industry of their country too much.

imstillthebest

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Quote from: bonjouros on December 11, 2020, 11:18:36 AM

This is totally a good news for the players in Cambodia as taxes are pretty hurtful especially if it is pretty high but as of right now they are enjoying the tax that is less than compare to other countries.

4%-7% is not that bad as I notice that there are few countries that put too much tax in gambling industry like they are putting 10% and above tax which can really hurt the casino owners and also to it's players. If other countries will likely to follow then it's good as it is for the best also, if they will maintain a low tax then many players will continue to play and many casino owners will continue their service.

casino is a profitable business and its not the owners are hurt the most but its the players but tax didnt stop those guys to continue playing gambling . gambling is in the list where government tax is high but it can also be their way to prevent small players from playing like what governments done in the cigaritte where they also put high tax on it lately . gambling is still healthier than on cigarittes and maybe gamblers in cambodia are not that addicts like on most countries thats why they are given a chance by their government

bonjouros

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This is totally a good news for the players in Cambodia as taxes are pretty hurtful especially if it is pretty high but as of right now they are enjoying the tax that is less than compare to other countries.

4%-7% is not that bad as I notice that there are few countries that put too much tax in gambling industry like they are putting 10% and above tax which can really hurt the casino owners and also to it's players. If other countries will likely to follow then it's good as it is for the best also, if they will maintain a low tax then many players will continue to play and many casino owners will continue their service.

peter0425

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Looks like Cambodia Got the News from japans gambling Enactments as recently Japan Makes this adjustments for their gambling laws about taxation.
and now here is cambodia..
Maybe countries around Asia seeing China's Macau being the capital of gambling is really generating tons of money as the revenue is incomparable to any gambling places in the world.
Macau seems overtaking Las Vegas in Gambling industry.
From being strict now lowering their Belts just to attract more gamblers and gambling operators Open businesses and generate jobs for people and income to government.

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I understand that they are wanting for fair play in both parties and they would like to regulate to avoid any irregularities but wondering if how fair they are to the gambling institution asking for such a taxing percentage of 4% for gaming while 7% for recreational. I don't see any fair for these but I was thinking that they are enacting this law for their own benefits, not for all gamblers and owners.

I do respect the decision of Cambodia's leaders but it seems not really acceptable to ask this amount as we are still in a crisis situation. This could possibly affect their gambling performance and I'm not sure if these could attract more gamblers.

robelneo

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That's the biggest turn around according to Wikipedia

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Gambling in Cambodia is officially illegal under the 1996 Law on Suppression of Gambling, which outlawed all unauthorized forms of gambling and provided for penalties ranging from monetary fines to short prison sentences, although the Cambodian government's General Department of Prisons does not list gambling as one of the 28 offenses punishable by imprisonment.

Now they want to be gambling friendly country and they created news laws and special zone to make gambling attractive to foreigners, they want to strengthen their tourism because tourists like to visit countries with gambling casinos, and they are also giving livelihood and employment too with these new laws.

Mauser

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This is great news for Cambodia, maybe some new business can flourish through these new tax laws. I am not very familiar with Cambodia but I know that the tourist sector is not so established like in the neighbouring countries Vietnam and Thailand. Maybe Cambodia could try and profit internationally from that too by attracting new gamblers and tourists.

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With these time when most countries economies are experiencing a down trend, governments are trying to make deals with the gambling and casino industries so that they can get agreeable tax rates and get more for the sake of funding their projects and covid related programs. That is why when I hear news that gambling joints and governments having agreements where the government will get a good share of taxes, I always take this news as always good news.

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Were the laws back then unfavorable for the players or something? Anyhow seems like quite a positive change for the gambling scene in Cambodia. Ofc, taking notice of the gambling scene and adopting laws properly into it, instead of ignoring it, is what most gamblers want. Especially since some countries just straight up ignore/ban gambling since it's a bad "influence" for the younger audience, which is plenty stupid imo since they're basically just running away from it.

I just hope that the shortlisted watchdogs do their jobs properly, it isn't that rare for issues to crop up due to corruption treading its reaches quite deep into the space of authorities. Unfortunate for those that want to play KYC free though, since it seems like they're going to implement stricter regulations for that.

Rodeo02

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Quote from: Sithara007 on December 10, 2020, 11:14:06 PM

I still believe that 7% is on the higher side, as most of the other nations have lower taxes. But I must congratulate the Cambodian government for the fact that they have legalized and regulated the gambling industry there. Here in India, the government is refusing to do that and as a result the gambling is mostly done underground away from the eyes of the government authorities.

Maybe because they don't see the important for collecting high tax in gambling sites. whatever you forbid if people are really into gambling they will gamble even if it is illegal so you would you stop something you know that people will always do. They will just hide it in a place that's safe for them to gamble . Why not take advantage and make it legal then collect money from casino or gambling game you have in your country.

msarro

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I am not sure if that was high or low but just like what you have said that was more lesser than other countries then I think that's good. What's stopping them? Maybe because the gambling industry is one of their ways to get fund to support their country or economy that's why it's hard for them to lessen the tax in online gambling.

Vishnu.Reang

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As far as I know, most of the gamblers in Cambodia originate from China. These gamblers are rushing to Cambodia because of various factors, and low tax rate is definitely one of the factors. If they increase the taxes by too much, then the Chinese gamblers may just go to Laos or Myanmar instead of Cambodia. I hope the Cambodian government is not that stupid to kill the goose, which lays golden eggs.

adzino

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I always wondered by governments of some countries had a strict law when it comes to gambling. I understand it is because to "protect" they citizens, but aren't adult citizens capable of taking decision of their own. They are adults and they can take responsible decision. If they don't, they will have to face the consequences. Why do they need a government to control them? But then again, if no such laws existed, the people would blame the government for their destruction.
Good for Cambodia. The government is now realizing they can actually get more revenue from gambling by easing those laws related to gambling.

btc78

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Quote from: cryptomaniac_xxx on December 11, 2020, 03:54:28 AM

At least the government of Cambodia is making a U-turn related on gambling because as far I know, they have tougher and stricter laws or even heavily regulated all forms of gambling. So I would say that this is definitely a win-win situation for the government and Cambodian players. At least gamblers can freely move without any hesitation to play.

One of the stricter in Asia in regards to gambling that's why this is Great news to the gambling community as they have now more motivation because what they need to see is government that supports the industry and not becoming enemy.
This way gamblers in other parts of the world might consider visiting and trying their casinos.

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I also read that there are a lot of underground pokers games around the city, and probably the government has heard about it and that's why they try to re-enacted this fair play.

So for them to Lure those underground Gamblers and operator they need to extend their hands because gambling is really a big market and Gamblers will go in where they can at least try luck in much cheaper expenses.

btc_angela

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Quote from: carlisle1 on December 11, 2020, 02:41:54 AM

Cambodia wants to Go along with Asian countries that hosting gambling events and this move is to attract foreign gamblers and to make a name in gambling industry.

They've hosted a poker tournament,

https://pokercalendar.asia/en/pokertournaments/world-poker-tour-wpt-cambodia-2020/

And I also think that there are a lot of professional poker players born in Cambodia. So they are really into the scene of poker gambling already, this is just one sports.

Quote from: carlisle1 on December 11, 2020, 02:41:54 AM

Many countries now the proves gambling is good place to gather funds and even some countries in Europe use gambling for Funding their fight for pandemic.

and maybe they can bring this low taxation is because of they did not depending in gambling all this time so letting the adjustment wont affect their economy.

Yes, government around the world are looking for ways to raise money quickly because of the negative effect of the pandemic. Las Vegas is already open many months ago for example. As for the tax, I would say it's huge though, 7%? why not make it lower, and let's say to peg it around 3% as a start.

cryptomaniac_xxx

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At least the government of Cambodia is making a U-turn related on gambling because as far I know, they have tougher and stricter laws or even heavily regulated all forms of gambling. So I would say that this is definitely a win-win situation for the government and Cambodian players. At least gamblers can freely move without any hesitation to play.

I also read that there are a lot of underground pokers games around the city, and probably the government has heard about it and that's why they try to re-enacted this fair play.

coin-investor

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Quote from: iamsheikhadil on December 11, 2020, 01:57:10 AM

It's a very good news actually. Government meddling with casino companies to make a deal is always good for the players and citizens. Because then it will make gambling-friendly laws as well as insurance companies popping up making the players more secure if they feel they will lose as well as make profits for the government which will be beneficial to the citizens if government uses the profit as tax and do benefits to the citizens.

Government interference in the gambling sector is good for the industry, if they make it tourist-friendly they are giving livelihood to another sector which is the hotels and amusement it's a win-win situation for the countries, Cambodia's decision is timely now that we are going to move to a new economy after this pandemic.

carlisle1

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Cambodia wants to Go along with Asian countries that hosting gambling events and this move is to attract foreign gamblers and to make a name in gambling industry.

Many countries now the proves gambling is good place to gather funds and even some countries in Europe use gambling for Funding their fight for pandemic.

and maybe they can bring this low taxation is because of they did not depending in gambling all this time so letting the adjustment wont affect their economy.

TheUltraElite

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So anyway, I applied as a merit source :)

I think this is a good initiative as long as the enforcement for "fairness" system is involved, it is definitely a good thing for the players. Not sure about the details of how gambling happens there but if there are shady casinos having rigged fairness system functioning there, it is essentially a fraud. Again such a casino would be caught pretty soon so this could be a warning message to any other operator attempting to set up a rigged casino as well.

All in all, it is a good and positive approach from their government. A bump in the gambling related tax should be the payoff for the gambling hoping to see all fair casinos and have peace of mind for the same.

Topic: Cambodia enacts new laws related to gambling. - page 5. (Read 761 times)