Government paves the way for the development of sport betting businesses

Last update 14:00 | 10/02/2017
VietNamNet Bridge – A government Decree 06 dated February 3 on legalizing horse, dog and football betting, to take effect on March 1, is expected to pave the way for the development of sport betting businesses.

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Under the decree, the government will allow only one company to provide the international football betting service for a limited period of five years. After the trial period of five years, the government will review the performance of the business before deciding whether to continue licensing it.

The company must have minimum charter capital of VND1 trillion.

Nguoi Lao Dong commented that foreign investors target football betting, which is believed to be a very profitable, though the decree only allows betting for international football matches.

Sources said that for many years, the world’s leading bankers such as Ladbrokes, William Hill and Singapore Pool have been quietly learning about the Vietnamese market and lobbying for the ‘only ticket’.

After the trial period of five years, the government will review the performance of the business before deciding whether to continue licensing it. 

Foreign investors have come to Vietnam and prepared for the investment in dog and horse race courses. However, it is still a mystery why some courses are situated in localities where the income per capita is low and people don’t have knowledge about dog and horse races.

An analyst has raised questions about who will come forward and set common rules for horse and dog races. The Vietnam Federation of Sports Motorcycles & Bicycles is still busy thinking about how to organize a competition for high-cylinder capacity motorbikes.

Lawyer Truong Thanh Duc said on Tien Phong that it would not be a too difficult to manage sports betting business, saying that there would be thousands of bettors, but each can bet no more than VND1 million.

However, in order to minimize the adverse impact on society, Duc said it is necessary to publicize the list of regular and big casino players and sports bettors.

Lawyers Bui Dinh Ung from the Hanoi Bar Association said he advocates the government’s decision to allow sports betting, because it occurs despite the ban. However, it is necessary to control the business to minimize possible negative impact on society.

A question has been raised whether bettors will be prosecuted for gambling if they bet more than VND1 million each time. Under current laws, a person can be criminally prosecuted for gambling.

However, Ung doesn’t think it is a good idea that only one business would get a license to provide the service.

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Phuoc Ha

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