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These are screenshots from Vietnam latest news about new horse racetracks (and horse betting) to be opened in Hanoi, Can Tho, Da Nang ... Each will eat up hundreds of hectares of farmland and is said to be invested up to 500 millions of USD! . . Wow, Vietnamese people have a taste for luxury entertainment! !, you may say, while the GDP per capita of this country is more than 2,000 USD/ year only and lots of people are living below the poverty line. According to VNexpress online newspaper, the $500 millions project recently approved by Vietnam authorities will eat up 120 ha of rice fields in Soc Son district (Hanoi's suburbs) where is home to 3,600 families, and 70 percent of them earn their living from farming. . But will it offer jobs for 5,000 locals and recruit tens of thousands more for related services, including hotels, villas, shopping malls and parks, and generate a tax revenue of $86 million per year for Hanoi as expected? Well, just do some researchs, you' could find the answer. . The whole industry of horse racing and betting has declined since more than10 years in the world. In UK, France where horse racing appeared first, in the 17th century and reached its peak in the 19th century, as a luxury entertainment for the nobles at that time, this sport became much less popular nowadays. . Visitors number fell, betting sales plummeted as people are more interested in betting on sports like football and other online gambling. Many horse racetracks, almost abandoned, have been shut down for social housing projects. . That's the reasons why horseracing betting companies have been trying to export this sport to emerging markets in Asia (including Japan, China .. ) and Middle East ( Dubai, Qatar ...). . . But do they spend $500 millions in horse racetracks in a country like Vietnam in this context? Really? 😉