Vietnam will allow betting on international football and horse and greyhound racing according to a newly-issued decree by the government. 

Horse racing in Dai Nam Course held in Binh Duong Province on January 29.

Vietnamese citizens aged from 21 can now participate in sports betting with minimum bet value of VND10,000 (45 US Cents) and maximum limit of VND1 million (USD44.51) per day, according to a decree which will take effect from March 31.

The decree only allows betting on international football games recognised by FIFA and approved by the Ministry of Culture, Sports and Tourism.

Only one business will be selected to provide international football betting which will be organised in five years on trial basis. Betting operators of football games and horse races must have a capital of VND1 trillion (USD45.1 million, while businesses wishing to organise greyhound betting are required to have capital of VND300 billion (USD13.63 million).

Vietnam now has a greyhound track in Vung Tau Province and a newly-opened Dai Nam Race Course in Binh Duong which host motor and horse racing.

The Ministry of Finance has toyed with draft laws on sports betting since 2010 and has finally now legalised it after lots of debates.

Vietnam has also been tinkering with its gambling legislation for many years and the Ministry of Finance in late January submitted a draft decree which allowed local citizens to gamble at two casinos as part of a three-year trial.

According to the draft decree, Vietnamese people entering casinos must be 21 years of age or older and earn a monthly income of at least VND10 million (USD450). Their relatives are also able to take steps to stop them gambling.

Dtinews