Mainly Muslim Malaysia has legalized sports betting, a move supporters claim will curb illegal gambling and boost government coffers.
Ascot Sports, a company controlled by influential tycoon Vincent Tan, has been granted a licence that will allow it to offer odds in time for the hugely popular English Premier League season.
“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 on Wednesday.
Berjaya, a conglomerate with holdings ranging from lottery to casino operations, will acquire a 70 percent stake in Ascot Sports by paying Tan 525 million ringgit (US$164 million).
The 1987 permit was quickly rescinded and an attempt to revive it several years ago failed because of opposition to gambling, which is forbidden in Islam.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 legalizing sports betting will curb illegal bookmaking and bring huge revenues to the government.
“By some estimates, the illegal sports betting market in Malaysia is thought to be as much as RM20 billion per annum,” it said. “This represents a tremendous loss of tax revenue to the government which Ascot Sports hopes to be able to mitigate.”
The company will launch products based on internationally popular sporting events including football, basketball, motor racing, tennis and golf.
“Ascot Sports will also offer telephone betting convenience and only adults above 21 years old and non-Muslims will be allowed to open a telephone betting account,” Berjaya said.
A conservative Islamic party is among the groups that have criticized plans to award the sports gambling licence, which they fear could promote betting and increase debt.
Its youth wing will hold a protest outside a mosque today in the capital Kuala Lumpur after afternoon prayers.
“There will be a big demonstration. We oppose the government’s decision to award the sports gambling licence. We want the government to cancel the licence,” Pan-Malaysian Islamic Party (PAS) youth wing secretary Kamarulzaman Mohamad said.
“It is a social and religious sin to gamble,” PAS treasurer Hatta Ramli said. “We cannot accept it. It will break up families and attract the young into this vice activity.”
Federation of Malaysian Consumers Association president N. Marimuthu said the government should seek other ways to raise revenue.
“There are better ways to generate income for the nation. I do not believe we have to resort to legalizing sports gambling,” he said.
Government officials have said they plan to channel the revenue generated from legalizing betting into sports development, but that the move will not eradicate match-fixing which has long blighted soccer in Asia.
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