Legal Betting in Vietnam

Review of Betting Legality in Vietnam

Gambling in Vietnam is governed by a complex mix of historical bans, current restrictions, and evolving attitudes. While gambling has been largely outlawed for centuries, recent years have seen the government cautiously open up limited sports betting under strict regulation. This article examines the legality of gambling in Vietnam, profiles betting platforms and shops, outlines regulatory frameworks, explores popular sports for betting, and discusses the rise of online betting and its societal impacts.

What Is the Law on Betting in Vietnam?

Gambling in Vietnam is heavily restricted due to longstanding cultural and legal traditions. The primary legal instruments are Decree No. 06/2017/ND-CP, which permits limited sports betting under strict conditions, and Decree No. 03/2023/ND-CP, regulating electronic gaming and betting platforms. Only licensed companies can offer betting services, and Vietnamese citizens are generally prohibited from participating except in government-approved pilot programs.

The government balances economic opportunities with societal concerns, including fears of gambling addiction. Operators require licenses from the Ministry of Finance, and foreign companies face significant regulatory barriers.

Well-Known Bookmakers and Betting Shops

Vietnam’s restrictive legal environment limits the number of licensed betting operators. Vietlott, a state-owned lottery company, is a key player, offering sports betting on selected international games through a network of shops and an online platform. Pilot betting shops operate in cities like Ho Chi Minh City, Hanoi, and Da Nang, with strict regulations on wager amounts and transactions to prevent money laundering.

Unlicensed gambling, both online and offline, remains a challenge. Many Vietnamese bettors use offshore websites, which operate in a legal gray area and carry risks of fraud or legal repercussions. Government censorship targets these sites, though enforcement is inconsistent.

Favorite Sports Bet Types

Football dominates Vietnam’s betting market, reflecting the nation’s passion for the sport. Major international leagues, such as the English Premier League, La Liga, and UEFA Champions League, attract significant wagers, alongside domestic leagues like V.League 1. Horse racing is also permitted at select racetracks, such as Phu Tho in Ho Chi Minh City. Greyhound racing and other sports like basketball, volleyball, and badminton see minimal betting activity due to limited public interest and regulatory constraints.

Supplementary Information

• Betting is legal only for individuals aged 21 and older.
• Licensed operators pay a 7% tax on betting revenue.
• Wagering on traditional sports like cockfighting is prohibited.
• The government blocks over 2,000 illegal betting websites annually.
• Revenue from legal betting supports infrastructure and social services.

The Rise of Online Betting

Digital technology has transformed Vietnam’s betting landscape, with licensed operators like Vietlott offering mobile apps and websites for government-sanctioned sports betting. These platforms prioritize security and identity verification to comply with Decree No. 03/2023/ND-CP. However, unregulated offshore betting sites, offering diverse markets and higher limits, have surged in popularity, driven by widespread smartphone use and 73% internet penetration. These sites pose risks, including data breaches and financial losses, and are frequently targeted by government blocks.

The Effect of Gambling on Society and the Economy

Legal betting generates revenue for public welfare programs, such as education and healthcare, and creates jobs in pilot jurisdictions. However, illegal betting fuels issues like compulsive gambling, with 1-2% of bettors engaging problematically, often on unregulated sites. This can lead to debt, family breakdowns, and mental health challenges. While strict regulations aim to mitigate these risks, the allure of offshore platforms undermines enforcement. Public awareness campaigns and tighter controls are needed to address these social impacts.

Table of Betting Market Details

Aspect	Details
Regulatory Body	Agency for the Development of the Capital Market (ADCM)
Minimum Betting Age	18 years
Tax Rate for Operators	10% on gross gaming revenue
Popular Betting Platforms	Bet365, 1xBet, UzBet, MostBet
Licensing Fee	Approximately UZS 1 billion (subject to financial stability requirements)

Conclusion

Gambling in Vietnam remains tightly controlled, with limited legal options like state-run lotteries, football betting, and a casino for foreign passport holders. Decrees 06/2017/ND-CP and 03/2023/ND-CP regulate a small market dominated by Vietlott and pilot betting shops. Football and horse racing are the primary betting focuses, reflecting cultural preferences. The rise of online betting and its societal impacts highlight the challenge of balancing economic benefits with social risks. Stronger enforcement and public awareness are essential for responsible gambling.