When we are looking at gambling news, people don’t realize that horse racing is part of the sports betting information they need to know. In the world of gambling, sports betting is a special niche that can earn you a lot of money, if you are interested. And even regulators of governments realize this. After all, revenues from online gambling and licenses fuel part of the governments programs and budgets.
In Vietnam, regulators are approving the development of a large-scale entertainment complex that will include a racecourse in the Soc Son district. Of course, this complex is already part of a big plan to boost socio-economic development in 2020. The plan, is to launch the development by 2021.
Horse Racing Complex and Tourism
The complex will stand on what is now agricultural land, which will be developed into a tourist area. And when complete, this complex will generate 5,000 direct jobs, plus as much as 20,000-25,000 indirect jobs. The numbers alone will assure citizens of the huge boost to the local economy. Hanoi state is already seeing a jump in visits for the year by around 9%. There are around 26 million people who have visited the city, and 5.7 people out of that number are foreigners. Compared to the previous years, however, foreign tourist numbers have increased by over 16%.
The plans for this racecourse complex has been talked about as far back as 1999. Initially, the location is to be at Thanh Tri and at Hoang Mai, which are both in the south of the country. But during that time, no laws existed about horse racing, even sports betting, so the project did not push through.
Fast forward to 2017, where the Vitenam’s National Assembly is approving a bill that covers sports betting. Earlier this year, the industry is now regulated. This brings in the opportunity for local and foreign investors to invest on gambling, horse racing, and sports betting industries in the country.