The new Cambodian gambling laws are all set. It’s just waiting for the signature of the King. The new regulations will allow gambling in the region and will step up against illegal gaming a strict way. Let’s take a closer look at what are the expectations and what lead to this decision.
In the latest online gambling news, we always pay attention to the important law changes of the world regarding the industry. This time a significant process is going on in Cambodia, as this Asian country will step on the path of gambling legalization.
Sneek peek at the Cambodian gambling laws
The actual Cambodian gaming laws are mostly based on the Law on Suppression of Gambling from 1996. In short, excluded the national lottery, all forms of wagering are restricted. The same is true for online gambling. However, these regulations only applied to Cambodian citizens. Thus, some parts of the tourism sector can offer casino games and other related features for the ones who visit the state.
If you are getting caught on illegal gambling, you can count on a pretty high fine. Even more, a short sentence to jail. By the way, why this whole reform is neccesary is the contradictory parts of the act which let abusers avoid prison in all cases.
The Cambodian gambling laws were not lenient at all, however, that didn’t reach the expected outcome
In fact, the Cambodian gambling laws needed a facelift one way or another. With the unfunctional parts of the act, it was basically everything but sensible. While they put up strict rules to prevent any form of gambling in the country, they didn’t empower the laws which ensure protection against money laundering and other serious abuses. And in the lack of any serious consequences regarding this misbehavior, the heyday of illegal gambling has begun. Meanwhile basically, the government just denied a significant tax revenue.
The new gambling laws will be more liberal
Out of Cambodia’s National Assembly out of the 117 votes 114 said yes to apply the new laws on commercial gambling management. Now the documents only lack of the King’s signature. So, we can be sure that the new Cambodian gambling laws will be implemented in weeks.
The new draft will ensure oversee over the casinos and other related venues while it will help law enforcement to truly step up in the cases of illegal gambling. They also add new protocols that prevent money laundering and terrorism.
On the other hand, they will give more freedom to operators, with a fixed tax system. This way they will have a significant tax income and they can make a safer market. A win-win situation. The chairman of the National Assembly’s related authorities, Cheam Yeap said the following about his vision regarding the new Cambodian gambling laws:
“This law is aimed to ensure management of the integrated commercial gambling centres and commercial gambling to contribute towards boosting economic growth, promoting the tourism sector, creating more jobs, collecting revenue, and maintaining social safety and security.”
What can we expect after the implementation of the Cambodian reforms?
First of all, we can count on many investments in the upcoming years. Soon we can welcome something like a gambling disctrict. In the current crisis, the state needs further income and this decision is absolutely among the ones which bring a country forward.
On the other hand, a war against illegal gambling will also begin. Finally, Cambodia will have the neccesary legal tools to vanish criminals.
In summary, even if some of the online gambling sites like the King Billy Casino was available in the country previously, using these platforms were completely in the grey area. Now, everything will change. The new Cambodian gambling laws are right since total restrictions only shepherd punters to offshore sites or even worse to dark web gaming. So, we all hope that the Cambodian market will rise and joins the countries where wagering doesn’t belong to the criminals. Instead, it belongs to the authorities who provide a safe, controllable, and responsible forum for all the interested bettors.