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Sports betting set to net up to US$1 billion

June 16, 2010
Legalising sports betting in Malaysia will generate over US$930,000 a year for Government coffers, according to Ascot Sports owner Vincent Tan.
Last month the Malaysian Government granted a sports-betting licence to Ascot Sports, a company controlled by tycoon Vincent Tan, but the move has met with stiff opposition.
Muslim groups have denounced gambling and three opposition-controlled states have imposed a ban on legalised sports betting for fear that it could cause debt problems for punters and other social woes.
Speaking out against the criticism for the first time, Tan said punters in Malaysia would be able to place their bets from September in time for the hugely popular English Premier League football season.

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