The details of the terms and conditions – including what sports will be covered – are still to be established. With sports betting having been illegal in the country for decades, the shift by the authorities has been seen as an attempt to stop money flowing out of the country.
The Nikkei Asian Review reported that a single operator will be granted a five-year licence and will be able to offer wagers on the World Cup, as well as other sporting events, including the Asian Games and Southeast Asian Games, and matches that do not involve Vietnamese athletes. The licences will be issued by the country’s Ministry of Finance.
The report added that the illegal gambling market in Vietnam is estimated to be worth several billion dollars each year, with police in 2017 having uncovered illegal sports-betting operations worth more than $300m.
The Vietnam Football Federation has been one of the organisations lobbying for a more relaxed approach to sports betting in the country.
The fledgling legal industry “must ensure transparency, objectivity and honesty, as well as ensure the rights and obligations of involved parties,” said the media outlet, citing the Vietnamese government’s stance on the matter.
Early last year, the government issued a decision in favour of a pilot programme for betting on horse racing, dog racing and international football matches.
Source: GMB
