The Ministry of Finance has said the daily betting limit on football should be capped at VND10 million (US$380) and not be raised tenfold VND100 million as demanded by businesses.
In its response to a draft government decree on establishing a trial sports betting program that is under review, it said gambling should be for healthy prize-based entertainment, and the VND10 million cap is appropriate considering average incomes, and helps limit excessive gambling that could affect public security.
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The semifinal of FIFA Club World Cup 2025 at MetLife Stadium, New Jersey, in July 2025. Photo by AFP |
The Vietnam Chamber of Commerce and Industry had called for raising the cap tenfold, saying the low limit hinders legal betting businesses.
But the ministry called for increasing the number of events allowed for betting instead of allowing only those organized by the Federation Internationale de Football Association (FIFA).
Events organized by the Asian Football Confederation Union and others should be included to increase betting opportunities, the ministry said.
It also proposed allowing up to three companies to pilot international football betting operations for five years, instead of only one allowed in the previous draft decree.
It also wants to raise the foreign ownership cap to 50% from the current 49%.
In recent times, Vietnam police have uncovered and prosecuted a series of illegal football betting rings involving transactions worth trillions of dong.
Vietnam’s illegal football betting market is estimated to be worth tens of billions of dollars.
Analysts say that to manage this market, the government needs a stringent and appropriate legal framework.
