Vietnam’s Ministry of Finance wants to update the maximum amount individuals can bet on international football matches per day, with the current VND1 million (US$38) allowed per category to be replaced by a daily limit of VND10 million (US$380 million), according to local media reports.
VN Express said the proposal forms part of a draft decree that aims to overhaul existing rules around betting on football as well as horse racing and dog racing.
Under the current decree, individuals can bet up to VND1 million per day on each of the dozen or so betting markets offered by sportsbooks, such as winner, score, yellow and red cards, and goalscorers. The draft decree would replace this with a single daily maximum of VND10 million.
According to VN Express, the Ministry of Finance’s reasoning is that the country’s income per capita has increased by 1.8 times to about US$4,700 since the current decree was first put forward in 2016.
Other requirements under the new draft decree would include a minimum age of 21 for betting account holders, with all payments required to go through an account with a licensed bookmaker to ensure proper identification and control protocols were maintained.
Advertising rules would also be relaxed to allow businesses to display logos and promotional materials on their websites.
However, the Ministry of Finance has proposed opening up the football betting market to a single enterprise for the first five years to ensure social order is maintained.
This latest proposal is one of a series of recent updates to Vietnam’s gambling laws being pushed by the Ministry, including the expansion of its locals gambling policy for land-based casinos under which Corona Resort & Casino in Phu Quoc may be granted permanent locals gambling permissions and The Grand Ho Tram access to locals for a 5-year trial period.
