Sports Betting in Vietnam

Sports Betting in Vietnam

Gambling is part and parcel of Vietnam’s lifestyle. A large percentage of the locals engage in gambling activities despite the strict laws against it. This has made underground casino and betting operators good money because they are the ones who saw and addressed the void in the market. The government recognizes this problem and has made necessary “adjustments.”

Sports betting is now legal in Vietnam. On June 4, 2108, the National Assembly of Vietnam passed the bill legalizing betting on sports on conditions that it would still be under the close monitoring of the government.
While the law is still fresh, there are certain provisions that are still unclear including the sports categories allowed and the degree of implementation allowed. The law comes after the government released Decree Number 6 last March 2017, which legalized horse race and greyhound race betting and international football betting.

What Are The Conditions of the Betting Regulations Currently In Effect In Vietnam?

Decree 06 or Decree 06/2017/ND-CP is a five-year pilot program that legalizes betting on international football games, horse racing, and greyhound racing. The conditions in this regulation include:

  • charter capital requirement of 1 trillion dongs for horse racing and football, and 300 billion dongs for greyhound racing,
  • firms taking part in both horse racing and greyhound racing must be a joint stock or a limited liability company,
  • a single betting operator will receive an investment registration certificate from the government during the five years that the program is in effect,
  • locals can only bet on international soccer games recognized by the FIFA. This includes soccer games during Copa America, World Cup, Champions League, Confederations Cup, and Europa League,
  • Vietnamese players must be at least 21 years old. Locals are allowed to place a bet ranging from 1,000 dongs to 1 million dongs per day.

The government has also previously issued Decree 03 or Decree Number 03/2017/ND-CP, which allows casinos to accept wagers from Vietnamese punters for a period of three years. It should be noted that only casinos with a declared total investment capital of at least US$2 billion will be allowed to accept Vietnamese players. Minimum age is also 21 years old and players must have a monthly income of 10 million dongs.

Is Online Sports Betting Legal in Vietnam?

With the passing of the bill regulating sports betting, it is safe to say that online sports betting is legal in Vietnam. More so if the websites used by the locals have international licenses and regulations. With gambling licenses from their home country, the Vietnamese government can only do little when it comes to regulating online sports betting.

Despite relaxing the gambling laws, many of the players from Vietnam patronize offshore websites because of the lack of legal betting operators in the country. Citizens find it hard to bet on FIFA World Cup because no sports operator would go through all the troubles of securing a license to host a sports betting event that occurs only once annually or once every four years.

What Sports Can I Bet From Vietnam?

Many local punters use online sportsbook because they can place bets on longer tournaments like La Liga, English Premier League, and Serie A. Other sports leagues covered by online bookies include German Bundesliga, and Major League Sports. Some websites even offer great odds for baseball, basketball, badminton, tennis, golf, volleyball, and cricket.

They find it beneficial to use Asian bookmakers more than European bookies. Asian bookies usually support Asian odds format, currencies, and languages. Asian handicap betting is also offered.

What Are The Possible Betting Options Offered by Asian Bookies?

To understand betting options, it is first important to understand the odds. European decimal odds is the easiest to use. Through this format, the odds show the number of times the staked amount will return to you in case you win. So betting 650,000 dongs at a 1.9 odds will give you 1,235,000 dongs. From this amount, your initial stake was 650,000 dongs and your profit is the remaining 585,000 dongs.

Vietnamese sports bettors often place their wagers on football so it would be best to limit the betting options applicable for the said sport. The most popular football betting options are:

1×2

This type of betting allows you to bet on the away team, home team, or draw. Each of these has different odds and are only used for during regulation time only. When you place a 1×2 bet, it means that the odds are only applicable during the 90 minute plus stoppage time. Results from a penalty shootout or extra time are not applicable.

Some bookies, however, offer “to qualify” betting option. This allows wagers to bet on whom they assume will win the match over the course of two legs. In this types of bets, results from penalty shootout and extra time are used.

Asian Handicap

Also known as Kèo Chȃu Á, this type of bet uses a handicap or point-spread to the odds. The Asian handicap has several types, which can be quite confusing. Asian handicaps can be an Even Number Handicap, Draw No Bet, Half Point Handicap, and Quarter Point Handicap.

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