Myanmar Gambling Act 2019: New Rules
The Asian gambling market is growing rapidly, and more and more countries in this vast region are beginning to realise how much the state budget is losing from the ban on gambling.
It is exactly what happened in Myanmar: in 2018, a bill was finally introduced, which provided amendments to the current legislation and opened up the possibility for operators to organise and conduct a gambling business in Myanmar.
Myanmar is located in Southeast Asia and is included in the so-called “golden triangle”. This place is known for its extensive branched drug chain and is situated next to Laos, Thailand, and Myanmar. The mountainous area in the place of confluence of rivers Ruak and Mekong is waiting for a new boon, and gambling can become such a boon.
What Types of Gambling are Allowed
There are several land-based casinos
Only the state lottery
Nowadays, casinos in Myanmar exist only underground and mostly in self-government zones. These are special territories that are not subject to centralised legislative power.
Nevertheless, the government finally paid attention to the gambling sphere and expressed its intention to redirect flows of money, ensuring the flow of funds into the state budget. Just imagine that the last time when the gambling legislation was revised was in 1986!
Now one of the most important tasks of the government is to effectively fill the budget. Besides, the rapid development of the tourism industry is expected because the flow of visitors from other countries that are coming to play casino games will increase.
The draft law as it is today was supplemented by comments and recommendations of the head of the country ― President Vin Myin. After it is approved, additional acts and new rules for the regulation of activities of casinos should be developed.
The first land-based locations (with card games, roulette, and slot machines) should appear in Yangon and Mandalay ― the largest cities in the country. Most likely, they will be located in already existing hotels.
Gambling in Myanmar will not be available to everyone:
- First of all, casinos will be opened to foreigners.
- At the entrance, visitors will have to show their identification documents.
- Local residents will not be allowed to enter.
The media does not have the information yet on whether the new laws will be in force within the territory of self-government zones. The situation with gambling clubs that are working now but underground is also unclear.
Lawmakers have not yet discussed online gambling business in Myanmar, although experts are already making their predictions, promising the rapid development of this industry in the coming years.
Many countries in the Asian region are seeking to legalise the gambling business, and Myanmar is also following this path, although, for ordinary citizens, gambling will still remain unavailable entertainment.
Now, entrepreneurs need to think hard about how to launch online casinos in this country. Probable, it will make sense to invest in the creation of land-based gambling establishments.
Respect the feedback of experts who predict high profits for the Internet business in Myanmar in several years, and consider the most profitable options for investment.
Specialists from Gaminator are always glad to explain to you the nuances of the legislation of different countries and to help with casino licensing and the launch of gambling startups of any format. Please feel free to contact us with any questions!