Vietnam lifts football betting ban

Vietnamese punters will finally be able to place wagers on international football matches from the end of March as a result of a new decree release by the government on Friday, local media reports.

Until recently, locals had been barred from all forms of gambling, with only a few foreigner-only casinos in the country.

The pilot programme, which takes effect March 31, 2017, will allow Vietnamese citizens over the age of 21 to place bets on international football matches recognized by FIFA and approved by Vietnam's sports ministry.

Online betting is not allowed, and bookmakers are required to be located at least 500 meters away from schools and venues with children.

Bookmaking operators will also need to meet strict capital requirements depending on what sport is offered. According to the decree, bookmakers will require VND1 trillion for horse racing and football, and VND 300 billion for greyhound.

Additionally, punters will be required to meet a minimum bet value of VND1,000 (US$0.04), while keeping within the daily maximum limit of VND1 million (US$44).

It is also understood that the government will select one football betting provider for a five-year trial phase via a bidding process.

The recent news follows on from the recent relaxation of Vietnam’s long-standing ban on casino gambling, with locals allowed to enter two selected casinos in the country starting March 15.

More news from this jurisdiction

VietnamWednesday, Mar 22, 2017

FLC Group Joint-stock Co., co-founded by billionaire Trinh Van Quyet, said it has received permission to invest $2 billion in a casino resort from the northern provincial government of Quang Ninh in Vietnam.

VietnamTuesday, Mar 14, 2017

A court in Ho Chi Minh City has sentenced a Singaporean national to 14 months and 24 days in jail for his role in an illegal online gambling ring targeting Vietnamese citizens, local media reports.

VietnamSunday, Mar 05, 2017

Casino operator Las Vegas Sands says it will continue to look for opportunities to invest and develop an integrated resort in Vietnam.

VietnamWednesday, Mar 01, 2017

Hong Kong-listed Sun Century Group Ltd. has announced it plans to provide consultancy, advisory and technical services for an integrated resort project in Vietnam.

Vietnam, CambodiaThursday, Feb 23, 2017

Australia-listed Donaco International posted higher profit in the first half of FY17, up 5 percent to A$14.8 million (US$11.4 million), according to a filing to the ASX on Thursday.

VietnamThursday, Feb 23, 2017

International casino operators have their eyes on Vietnam again after the latest gaming decree opened up casinos to locals.

VietnamSunday, Feb 12, 2017

While Vietnamese citizens will be able to gamble at certain domestic casinos come mid-March, proving they meet the minimum income requirement will be difficult for some.