On 24 January 2017, the Government issued Decree No.
06/2017/ND-CP, which for the first time legalizes international
soccer betting in addition to horse racing betting and greyhound
racing betting (Betting Decree).
Some key features:
Betting business is treated as a conditional business sector
the satisfaction of which is evidenced by a certificate of
satisfaction of betting business conditions (Betting
An entity can only do horse racing betting, greyhound racing
betting once they have received an investment registration
certificate (which, for a foreign invested company also serves as a
certificate of incorporation) and a certificate for satisfaction of
business conditions. The investment registration certificate will
only be granted for horse racing betting projects with minimum
investment capital of VND1,000 billion (~USD459 million). For
greyhound betting projects, the minimum investment capital is
VND300 billion (~USD137 million).
Investment registration certificate will only be granted to 01
(one) international soccer betting pilot project with minimum
investment capital of VND1,000 billion (~USD459 million). The
international soccer betting pilot entity will operate within 5
years from the issuance of the Betting Business License.
The Ministry of Finance will grant the Betting Business License
to entities with adequate financial resources, business plans and
an appropriate betting and racing bylaws.
Enterprises doing horse racing and greyhound racing business
must be in the form of a limited liability company or a joint stock
A Betting Business License's term is maximum 10 years for
horse and greyhound racing betting business and 5 years for
international soccer betting business from its issuance date but
still within the lifespan of the Investment Registration
The maximum bet is VND1 million (~USD50) a day and the minimum
bet is VND10,000 (~US 50 cents). These limits could be adjusted for
Players must be 21 years old and over and not being objected in
writing by parents, spouses, biological children and/or themselves
There should be no more than three horse/ greyhound races in a
week at each location.
The minimum rebate shall be 65% of the revenues from selling
Wagering tickets will be distributed via terminal equipment and
telephone (fixed and mobile ones), excluding via Internet or
internet-based applications on telephone. However, distribution of
wagering tickets via telephone will only be implemented 01 (one)
year after implementing the terminal equipment distribution method.
In order to bet via telephone, players must have a registered
account with the betting business entity. Payment of rebate must be
via the players' registered account and the bank account of the
betting business entity opened at a lawful credit institution in
The Betting Decree will take effect from 31st March
Disclaimer:This Alert has been
prepared and published for informational purposes only and is not
offered, nor should be construed, as legal advice. For more
information, please see the firm's
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