Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Thursday, August 6, 2020

International football betting via e-wallets and mobile money permitted

Updated: 14:48’ - 06/07/2020
Bettors might use bank accounts, e-wallets and prepaid telecoms accounts to pay for their bets on horse and greyhound races and international football matches.

This is highlighted in a draft decree compiled by the Ministry of Finance to revise Decree 06 of 2017.

Under the draft, a bettor would have to place bets via telephone or have an account registered with a betting business with complete personal identity information, such as his full name, date of birth, serial number of identity card or passport if he is a foreigner. The bettor would be required to provide the betting business with information on his accounts opened at cashless payment or intermediary payment service providers.

Worthy of note, the draft proposes an expanded list of international football matches and tournaments opened for betting on a pilot basis in the country, including those organized by FIFA and its member associations such as FIFA Men’s and Women’s World Cup, Confederations Cup, etc.

Bettors could start waging their bets for an international football match from the time an organizer announces the match schedule and venue, and complete the placing of bets before the event ends.

The Government would permit an enterprise to conduct international football betting on a pilot basis for five years from the date such enterprise is granted a certificate of eligibility for international football betting business. After the pilot period, the Government would conduct a review to decide whether to continue or terminate the pilot program.

To be allowed to provide betting services, an enterprise must have a charter capital of at least VND 1,000 billion (USD 43 million), have an appropriate investment and business plan, and commit to making cash contributions to the state budget, apart from tax obligations, to implement social security programs.- (VLLF)
 

Send Us Your Comments:

See also:

Video

Vietnam Law & Legal Forum