Key Moments:
- The Ministry of Finance in Vietnam has drafted a decree to increase the daily football betting limit to VND10 million ($380) per player.
- The updated regulations require participants to be at least 21 years old and to place bets through accounts registered with licensed operators.
- Concerns have been raised about the potential impact of betting limits on both market appeal and revenue generation.
Vietnam Plans Substantial Reform for Betting Sector
The Ministry of Finance in Vietnam drafted a decree to reform betting rules for horse racing, greyhound racing, and international football. The framework would replace Decree 06 from 2017. That earlier law allowed football betting but never took full effect.
Details of the Proposed Betting Cap Increase
The draft proposal recommends raising the maximum daily betting limit to VND10 million ($380) per player, a significant increase from the previous restriction of VND1 million ($38) per betting category. The minimum wager remains at VND10,000 ($0.38). This move is intended to both restrict excessive gambling and broaden legal betting opportunities.
| Previous Limit | Proposed Limit | Minimum Stake |
|---|---|---|
| VND1 million ($38) per category | VND10 million ($380) per day | VND10,000 ($0.38) |
Participant Requirements and Operating Model
Only individuals who are 21 years old or above will be eligible to bet, and all wagers must be placed using accounts with licensed operators. These accounts will also serve for payment and prize claims to ensure transparency and monitoring. Eligible tournaments are limited to those run by FIFA and its member organizations, while domestic competitions and esports remain excluded. Permitted betting options cover match results, the number of cards, corner kicks, and first scorers.
The government will issue just one license during a five-year pilot. Applicants must show at least VND1 trillion ($37.9 million) in charter capital and meet strict criteria. The Politburo will select the approved entity, and the Ministry of Finance will oversee the licensing process.
Industry Reaction and Expert Feedback
Tuoi Tre news has reported that industry experts generally support the broader inclusion of tournaments but have voiced concerns about whether the raised limits will be sufficient to attract bettors and investors. According to the report, experts noted that the increased ceiling of VND10 million ($380) could still fall short for serious players, especially those interested in leagues like the Premier League, La Liga, and Serie A.
There are calls within the industry to increase the minimum wager above VND10,000 ($0.38), with some stakeholders emphasizing the need for gradual limit boosts to enhance government revenues. Others believe that current identification and oversight tools would mitigate gambling-related risks under these higher limits. Industry voices also advocate for participation by reputable international operators to reinforce market credibility, although some favor state-owned enterprises managing the pilot to retain stricter control.
Persisting Issues with Illegal Betting
Since Decree 06 in 2017, legal football betting has struggled under restrictive rules. In its place, unlicensed operators have dominated the market. Research estimates that Vietnam loses billions of US dollars annually through unauthorized betting channels. A 2007 survey suggested illegal wagering was valued at $3 to 4 billion, while a 2020 seminar estimated the underground football betting market at $10 to 12 billion per year. Most of this flow is believed to head to destinations such as Macau and Hong Kong.
Analysts argue that streamlining and liberalizing regulations could help reclaim this revenue for the state and offer safer avenues for players. The new draft’s broader tournament eligibility aims to draw greater participation beyond just FIFA events, making the regulated market more competitive with unlicensed alternatives.
- Author
Daniel Williams
