Wednesday, October 20, 2010

Sports betting is now legal in Malaysia

I read this article that said "Sports betting is now legal in Malaysia:

"Thursday, 13 May 2010 16:17

KUALA LUMPUR – The government has legalised sports betting, which, supporters say, will curb illegal gambling and boost government coffers.

Vincent-tan-2Ascot Sports, a company controlled by influential tycoon Vincent Tan (left) has been granted a licence that will allow it to offer odds in time for the hugely popular English Premier League season, according to an AFP report.

"Ascot Sports has been re-issued the sports betting licence by the Ministry of Finance which was first issued in 1987," gaming group Berjaya -- of which Tan is a major shareholder -- said in a statement late yesterday.

Berjaya, a conglomerate with holdings ranging from lottery to casino operations, will acquire a 70% stake in Ascot Sports by paying Tan RM525mil.

The 1987 permit was quickly rescinded and an attempt to revive it several years ago failed because of opposition to gambling, which is forbidden in Islam.

Berjaya said that legalising sports betting will curb illegal bookmaking and bring huge revenues to the government.

Since the government has legalised sports betting, he proposed that part of the revenue collected from the industry should also go towards public education and raising awareness about the dangers of gambling and the social ills that could result. —Malaysian Mirror "

So what about sports betting in bigger countries like the United States? I guess everyone would agree that among all sports, football betting would be the top choice among all sports bettors.


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