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>Why does there seems to be 20+ belts?
Anybody can create a belt, but only a few have any prestige.
> Are there that many promotions?
Yup. Basically, anybody with connections can be a promoter. Lots of upcountry politicians/military mafia bosses are in the promotion business.
>Is K-1 the PRIDE of Muay Thai minus the elbows?
No. K-1 also doesn't allow knees from the Thai clinch. It only allows knees to the sides.
Plus, K-1 only has 2 weight divisions (Max and Open), whereas Muay Thai has as plenty, especially in the lower weight classes.
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