Archive for December 27th, 2006

Vietnam to Legalise Football Betting

Vietnamese authorities are set to seek government approval for a regulation to legalize previously-banned football betting next year, under which gamblers could place a maximum stake of VND450,00 (US$28).

Nguyen Trong Hy, deputy head of the National Sports Committee said that the draft was to be submitted to government in Q1 next year. The regulation also restricts punters to a certain number of bets per month.

He said his committee was considering partnering with UK-based betting firm Ladbrokes to form a Vietnam state-run 51:49 joint venture company headed by a Vietnamese national.

Regulations could be modeled after those in the UK, in that companies offering gambling services are required to advise punters against betting if they lose more than they win in a certain month.

Hy quoted police sources as saying billions of US dollars were drained away from Vietnam per year to betting centers in Hong Kong, Macao and others.

Source : Thanhnien News

Add comment December 27th, 2006

ABRAMOVICH says CHELSEA will reduce spending

Does UEFA’s proposed plan to limited European Club spending to a percentage of football related income actually have enough teeth to be scaring the Russian Money man ?

Roman Abramovich claims Chelsea’s spending in the transfer market will soon be reduced as he expects investment in the club’s academy to start bearing fruit.

Since the Russian’s £140million takeover of the Stamford Bridge club in 2003 the Blues have won two Premiership titles thanks largely to their new-found financial muscle.

But Abramovich believes the expected results of significant investment in the club’s youth system will reduce the need to speculate so lavishly in the transfer market.

He told The Observer: “Our strategy is to bring up our own players through the academy, which we have invested a lot in, and we hope that will give results. “We will be spending less in the transfer market in future years.”

So why has he jumped into this stance – after spending GBP 350 million over the last 2 seasons ? Could it be that the new plans would work – and limit Chelsea too much ?

Interesting …

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