Vietnam eyes raising football betting cap to $380 a day
The Ministry of Finance in Vietnam has released a draft decree that would overhaul regulations on horse racing, greyhound racing, and international football betting. According to local media reports, the new proposal is intended to replace the country’s Decree 06, introduced in 2017, whose football betting provisions were never fully implemented.
The reports said that the draft would increase the maximum betting limit to VND10 million ($380) per player each day. Previously, the cap stood at VND1 million ($38) per betting category. The minimum stake remains at VND10,000 ($0.38). The revised daily cap is aimed at limiting excessive gambling while expanding the scope of legal betting.
Reports said that only individuals aged 21 and above will be permitted to participate, with all bets placed via accounts registered with licensed operators. These accounts will also be used for payments and prize collection to ensure monitoring.
Eligible tournaments will be limited to those organised by FIFA and its members. Domestic tournaments overseen by the Vietnam Football Federation and esports competitions will remain excluded. Betting options include predicting match outcomes, card counts, corner kicks, and first scorers. To start, one company will be licensed to run the pilot scheme for five years. Applicants must have a charter capital of at least VND1 trillion ($37.9 million) and meet strict requirements before approval. The Politburo will choose the investor, while the Ministry of Finance will handle licensing.
Experts raise concerns over low limits
Tuoi Tre news reported that industry specialists have welcomed the broader list of tournaments but questioned whether the new limits will appeal to bettors and investors. The report said that observers argued that while the daily ceiling of VND10 million ($380) is an improvement on current rules, it may still discourage serious players, especially given that European leagues such as the Premier League, La Liga, and Serie A dominate betting interest.
Based on the report, some suggested that the minimum wager of VND10,000 ($0.38) is outdated and should be raised. In contrast, others stressed the importance of gradually increasing limits if the government aims to generate revenue. They pointed out that with proper identification and monitoring systems in place, gambling risks could be mitigated.
Calls have also been made for reputable international operators to be allowed to take part to strengthen market credibility. However, some stakeholders prefer a state-owned enterprise to manage the pilot, keeping the market firmly under state control.
Illegal betting drains billions abroad
In Vietnam, football betting has been legal in theory since the introduction of Decree 06 in 2017, but restrictive rules have left the framework largely dormant. As a result, underground operators have continued to dominate.
Studies have shown that billions of US dollars flow out of Vietnam annually through illegal channels. A 2007 survey estimated the value of illicit betting at around $3 to 4 billion in the Southeast Asian country, while a 2020 seminar put the size of the underground football betting market at $10 to 12 billion a year. Much of this money is believed to end up overseas, particularly in Macau and Hong Kong.
Analysts argue that a more open and workable regulatory framework could redirect this revenue into state coffers while offering safer options for players. The local media reports also said that the new draft expands the scope of eligible tournaments, which could attract more participants compared with the current system that essentially restricts betting to FIFA competitions such as the World Cup.
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