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Communist Online Casinos in Vietnam

If Vietnam were to license online casinos, what would this mean for the future of the country? Vietnam has not been a socialist country like its Communist Party rulers might have once wanted it to be, though of course the Communist Party in Vietnam has always been more nationalistically motivated than ideologically motivated. But with reports reaching our eyes and ears that the Ministry of Post and Telematics in Hanoi has been instructed by the central government to look into the possibility of creating a regulated – thus closely watched – online casinos industry in the country, it begs the question as to how long highly centralized power in this country of 8 million internet users will last with the ability of Vietnamese to freely gamble online.

Online casinos are seen as being illegal by many world governments, though out of 189 sovereign nations over sixty have some form or another of authorized, legal online gambling. The Vietnamese government, should the reports be true, could be hoping to somehow increase revenues in the once war-torn, now three decades somewhat recovered Southeast Asian nation of 89 million. But is it really possible that, in all places, Vietnam online casinos gambling would be legalized before such a thing occurred in the U.S.?

It sure seems to be that way now, and online casinos industry observers are watching Hanoi intently to see what moves are made next. If online casinos continue to grow in popularity overseas, will the U.S. finally come to its senses, they say, and authorize and work to regulate the online gambling trade as much as possible? Or will the world advance on the online casinos front while the U.S. and its citizens languish behind while the billions in profits from taxes go to other governments? Only time will tell, and online casinos execs aren’t holding their breath.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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