Ministry wants betting to be allowed on more global football events
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The Ministry of Finance wants more global football tournaments added to the list of those on which people can bet.
The list comprises 27 events, including 15 leagues in Europe, Asia, North America and South America and 12 tournaments held every two or four years.
Gamblers will be allowed to bet on matches Vietnam play, including in the World Cup, AFC U-23 Championship, Olympics, Asian Cup, and U-20 World Cup.
The minimum and maximum bets on football matches, horse races and dog races will remain unchanged from 2017 at VND10,000 ($0.44) and VND1 million.
A 2017 government decree allows Vietnamese to bet on all football tournaments run by FIFA.
But gambling remains illegal in Vietnam. There are a handful of licensed casinos, but only holders of foreign passports are allowed to gamble there.
Vietnamese are known for their love of gambling. It is estimated they spend at least $800 million a year betting overseas, mainly in Macau, Singapore and Hong Kong.
Illegal betting and gambling are rife within the country too. Da Nang City police last year arrested a man running an online football gambling ring with stakes of nearly $1 million.
Questions & Answers
Q.What types of global football events are currently included on the list for betting?
What types of global football events are currently included on the list for betting?
The existing list includes 27 events. These are made up of 15 leagues across Europe, Asia, North America, and South America, alongside 12 tournaments that occur every two or four years.
Q.Can Vietnamese citizens currently bet legally on football within Vietnam?
Can Vietnamese citizens currently bet legally on football within Vietnam?
No, gambling generally remains illegal in Vietnam, despite a 2017 decree allowing betting on FIFA tournaments. Licensed casinos exist, but only foreign passport holders are permitted to gamble in them.
Q.What is the motivation behind the Ministry of Finance's proposal to expand betting options?
What is the motivation behind the Ministry of Finance's proposal to expand betting options?
The article suggests the Ministry's move might address significant overseas spending and illegal betting within the country. Vietnamese reportedly spend at least $800 million annually betting abroad.
Q.Are there any changes proposed for the minimum and maximum bet amounts?
Are there any changes proposed for the minimum and maximum bet amounts?
No, the minimum and maximum bet amounts for football matches, horse races, and dog races will remain unchanged. They will stay at VND10,000 and VND1 million, as set in 2017.
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