Vietnam has approved three types of betting, football, horse racing and greyhound racing, but none has been implemented, Finance Minister Ho Duc Phoc told the National Assembly Standing Committee on the morning of March 181. He was answering questions from delegates Nguyen Thi Hue of Bac Kan and Nguyen Tao of Lam Dong on the licensing of betting businesses and on measures to curb illegal betting and the outflow of foreign currency1.
On football betting, Phoc said drafting the rules for organizing a tender ran into problems with the Law on Bidding, and that a recent amendment to that law wrote the relevant provision into law. The Ministry of Finance is now drafting a decree and will roll out the model soon1.
"có ba loại đặt cược, bóng đá, đua ngựa, đua chó nhưng hiện chưa triển khai được"
For horse and greyhound racing, Phoc said the investment policy for the project has been approved but the Ministry of Finance has not received a licensing dossier. The horse racing betting project at the Soc Son racecourse holds a license but is stuck on the issue of capital contributions1. He said the ministry will work with other ministries, agencies and provincial people's committees, and that the model is tied to conditions including land, planning, environmental impact assessment, land recovery and land allocation1. Under the process, the Ministry of Investment and Planning submits the investment to the Prime Minister, who issues the investment policy, and licensing then involves the Ministry of Finance1.
On electronic gaming, Phoc said 93 games are placed in 5-star hotels, that businesses must have capital of 500 billion dong or more, and that the games apply only to foreigners1.
| Betting type | Status as of March 18, 2024 |
|---|---|
| Football | Decree being drafted after Law on Bidding amendment1 |
| Horse racing | Investment policy approved; no licensing dossier received; Soc Son project licensed but stuck on capital contributions1 |
| Greyhound racing | Investment policy approved; no licensing dossier received1 |
What it means for players
The horse racing betting venture at the Soc Son racetrack has been granted a license, but it remains stalled over funding commitments, so there is still no legal domestic channel for football betting, horse racing or greyhound betting in Vietnam at present1. The 93 electronic games in 5-star hotels are restricted to foreign players, so locals cannot use them1. Anyone in Vietnam looking at sports betting has no state-licensed option to compare on price, payout or dispute handling, because none has been granted1. The minister framed the delay as caution about risk in a new sector, and cited illegal betting and currency leaving the country as the concerns delegates raised1.
What happens next
The Ministry of Finance is drafting a decree for football betting and says it will implement the model soon1. For horse and greyhound racing it will coordinate with other ministries, agencies and provincial authorities, with land, planning, environmental assessment and land allocation among the conditions to be settled1. No dates were given for any of these steps1.
