The Vietnamese Ministry of Finance has initiated a 5-year pilot period to increase the daily betting limit on international football matches. Industry analysts suggest applying a single-operator model for the trial.
The amendment is intended to replace Decree 06/2017/NĐ-CP. If approved, the document will be part of a comprehensive reform of wagering on horse and greyhound racing, as well as world soccer tournaments.
About the Government’s Initiative
The key change concerns increasing the current bet limit of VND 1 million (approximately $38) to VND 10 million (about $380) per day. The minimum rate remains the same: VND 10,000 (nearly $$0.38). This level will be applied to every wagering category available in the country.
The most popular types of stakes among locals are:
- total goals;
- issued cards;
- overall match results;
- the 1st scorer, etc.
The existing system of combined bids made it easy to circumvent government restrictions and play with amounts much larger than VND 1 million. The authorities believe that consolidating gaming limits will solve this problem. Increasing the deposit size will protect the population from excessive gambling.
The proposed amount also takes into account the rise in average income per capita. Since 2016, the figure has grown approximately 1.8 times, reaching around $4,700.
Tightening Requirements for Gamers
The uplift in available limits implies the introduction of additional restrictions on access to gambling sessions.
To participate in betting, Vietnamese must meet the following criteria:
- 21+ years old;
- only full civil capacity;
- account registration on a licensed portal.
The last point implies that all financial transactions will be conducted through the specified personal page. Such an approach will facilitate identity verification and improve compliance with the rules.
Local operators will continue to process bets on a limited number of competitions. FIFA or international eSports, soccer-focused organisations must recognise tournaments available for wagering.
In summary, the country’s population will have access to industry services for 4−8 major contests per year, each lasting approximately from 10 to 30 days.
Bookmakers' Responsibilities and Promotion Nuances
The representatives of the licensed gambling business in Vietnam will have some freedom in developing their product line. For instance, they will be able to independently determine betting categories, as long as these offers comply with the established government regulations.
Other significant nuances include the following:
- Exclusive permission. An important criterion for operating in this niche is the mandatory purchase of official copyrights for using images or information about matches from FIFA and its affiliate organisations. Exceptions include competitions arranged by the state’s Football Federation.
- Digital channel. The bill also provides for access to online products for local audiences. A digital wagering format would help address time zone differences. If the project is passed, platform owners will decide on the opening and closing hours by themselves.
- Industry promotion. A separate government regulation concerns sports betting advertising. The authority plans to relax legal requirements for business marketing and allow niche companies to display logos and similar materials on their websites.
Prospects for the Initiative’s Implementation
A 5-year pilot project with a single operator is necessary to minimise social damage and explore opportunities and potential challenges. If the innovation proves successful, this practice could become permanent.
The decision was made amid an intensified fight against unlicensed bookmakers. The shadow betting market is currently estimated to be worth several billion dollars.
By creating a stable and transparent legal framework for this vertical, the Vietnamese government will be able to make the gaming industry:
- safer;
- profitable through taxes;
- more attractive to private investors.
At the Casino Market studio, you can learn more about the situation in the world’s most popular gambling jurisdictions. We will help you open a compliant niche project that generates solid, stable revenue.
Feel free to contact us to explore the entire range of our services and products. The company’s managers will help you choose the best options according to your platform specifics and business goals.
Have questions or want to order services?
Contact our consultants:
- e-mail: manager@casino-market.com
- feedback form.
Check the information used to contact us carefully. It is necessary for your safety.
Fraudsters can use contacts that look like ours to scam customers. Therefore, we ask you to enter only the addresses that are indicated on our official website.
Be careful! Our team is not responsible for the activities of persons using similar contact details.
