VietNamNet Bridge – Deputy Prime Minister Vu Van Ninh has given the green light to the Ministry of Finance (MoF) to proceed with a pilot project, allowing wagering on international football matches.

The MoF was assigned to draft a specific decree on football betting after receiving ideas from the National Assembly Standing Committee (NASC), NA committees, and relevant ministries and agencies to ensure implementing the draft decree is feasible.

A draft decree formally legalising horse and dog racing and international football betting was discussed at a NASC session last year.

The MoF said it is necessary to issue the decree in order to set a legal framework for betting and management.

The draft decree proposed limiting the amount of betting from VND10,000 to 1 million per day. However, experts argued that few would probably want to bet at the level of VND10,000, reasoning with such a small amount they can't buy a bundle of vegetables nowadays.

The draft decree proposed that a company involved in football betting must have chartered capital of at least VND500 billion (US$24 million). Similarly, chartered capital for companies involved in horse and dog races must be VND1,000 billion and VND300 billion respectively.

The NASC examined a draft decree on casino services in its session in Hanoi last week.

Source: VOV