Vietnam continues to transform its domestic betting regulations, changing how players are allowed to participate in sports wagering. The latest initiatives could lead to stricter rules for betting on international football.
Local media report that the Ministry of Finance has proposed a betting cap of VND 10 million (£314) per day compared with the current VND 1 million limit.
At first glance, this looks like a tenfold increase. However, the current limit applies to each betting category, of which there can be 10 to 15 for an international football match. Thus, the newly proposed cap would effectively be lower than the existing one.
The changes are being proposed because Vietnam’s per capita income has increased 1.8 times to around £3,500. The new cap is intended to prevent excessive gambling.
The draft law also sets a minimum age of 21 for account holders and requires all payments to go through an account with a licensed bookmaker.
As part of the reform, advertising rules would be relaxed, allowing companies to display logos and promotional materials on their websites – something currently prohibited.
At the first stage, the Ministry of Finance proposes to open the market to a single company under a five-year pilot of the new rules.
The proposed changes to international football betting are part of a wider reform of Vietnam’s gambling market. Currently, legal frameworks strictly limit residents’ participation in gambling: casinos, online betting, and sports wagering remain illegal for Vietnamese citizens.
However, pilot programs already allow locals to enter casinos, and their duration has been extended for another five years. The main pilot sites are the Grand Ho Tram and Van Don Integrated Resort.
To ensure operators’ financial viability, the Ministry of Finance has proposed entry fees of VND 2.5 million (around $100) for each 24-hour period of casino access, or VND 50 million (around $2,000) for a monthly pass.
The extension of the pilot program still requires final approval from Vietnam’s Prime Minister Pham Minh Chính and the Minister of Finance.
Previously, Corona Resort & Casino on Phu Quoc island was used as part of the trial allowing local residents to gamble. Although the results of this experiment were significantly limited by COVID, reports suggest the resort could gain permanent permission to admit local players.
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