THE IMPACT OF FOOTBALL GAMBLING ON MONEY LAUNDERING TRENDS IN THAILAND: A STUDY OF MAJOR FOOTBALL TOURNAMENTS

Abstract

This study aims to analyze the relationship between major football tournaments, football gambling behavior, and money-laundering tendencies in Thailand. It applies the conceptual frameworks of the economics of crime (Becker, 1968), behavioral economics (Kahneman and Tversky, 1979; Thaler, 1991), and expected utility theory (von Neumann and Morgenstern, 1944) to explain both rational decision-making and behavioral biases among gamblers and money launderers. The study employs a qualitative methodology by analyzing secondary data from government reports, academic research, and related literature concerning the FIFA World Cup and the UEFA European Championship (Euro). The findings indicate that major football tournaments serve as a significant factor stimulating gambling demand, particularly through online channels, which facilitate the circulation of illicit funds and their integration into the money-laundering process through mechanisms such as the use of nominee accounts, investment in front businesses, and complex financial transactions. Moreover, strict anti-money-laundering and counter-terrorism financing (AML/CFT) measures play a crucial role in increasing the expected cost of illegal activities and reducing the incentives for money laundering. This study contributes to a systemic understanding of the underground economy associated with football gambling and provides policy recommendations to enhance the effectiveness of anti-money-laundering mechanisms in Thailand.