Vietnamese sports bettors gamble billions of dollars a year, but most of the revenue goes to overseas operators. Experts say the market is ripe for development if the government amends a 2017 decree.
Vietnam could grow a lucrative sports betting industry, given more favourable regulations. That was the consensus of business and financial experts at a 28 November seminar, hosted by The Investor and Vietnam’s Association of Foreign Invested Enterprises (VAFIE).
Decree 6: Cumbersome, unclear and ineffective
According to the Tuoi Tre News, the conversation centred on Decree 6, implemented in Vietnam in 2017. The legislation ostensibly opened the door to legal betting on horse races, greyhound races and international football. It also laid out a framework for sports betting operators.
But speakers at the Hanoi seminar said the rules are vague, prohibitive and out of step with the times.
For gamblers, Decree 6 limits legal gambling to 20 pilot jurisdictions in Vietnam and caps bets at ..