Vietnamese politicians see a future in which the country may welcome gaming rather than reject it. Legal sports betting appears as the prospect of expanding the casino business continues to dominate legislative deliberations. On June 14, 2018, Vietnam’s National Assembly enacted legislation allowing sports betting under governmental control. Several aspects are now unclear, including the sports categories to be included and how the government would execute them. The government has released more information by the government before the law goes into force next year. This legislation follows a March 2017 ordinance that authorized wagering on international football events, horse racing, and greyhound racing. Now you can bet on genuine sport betting sites such as Slotxo.
Vietnam Is Increasing Casino Gaming:
The casino gambling industry, on the other hand, looks to be doing considerably better. The Vietnamese legislature’s legislative initiatives in 2017 also allowed for the establishment or licensing of casinos where residents may wager from 2019 to 2022. Unfortunately, the global pandemic struck on time, and the pilot never collected much data since the casinos were closed. The government wanted more casinos added to the list of places where locals may gamble, and the trial period gets extended by two years. Casinos may be a terrific way to attract visitors, especially when done correctly. Halo casinos, like those found in high-end hotels or resorts, are a fantastic way to attract attention, and the government was thinking of permitting casinos in five-star hotels in Ho Chi Minh City.
Illegal gambling has taken over Vietnam:
Pham Van Hoa, a Vietnam National Assembly member, says it is time for the country to consider legalizing sports betting. He feels that doing so will assist illicit market activities. It is not the first time Vietnam has discussed this topic. It occurred in 2018 as part of a trial experiment that rapidly died out. At the time, no operator expressed an interest.
Hoa brought up legalizing sports betting at a meeting with Vietnam’s Minister of Public Security, To Lam. He stressed the pervasiveness of internet gambling and how the absence of regulation impacts society.
Hoa was referring to the same court judgment that would have permitted sports betting in 2018. This arrangement was designed specifically for horse races, greyhound races, and soccer games. The fact that little progress gets achieved in more than four years foreshadows what is to come for Finance Minister Ho Duc Phoca, who admitted that while progress would be hard, the review was enough.
Casino Regulations:
In addition to horse racing and football betting, the government approved Decree No. 03/2017/ND-CP last year, which enabled selected domestic casinos to take bets from Vietnamese players under specified restrictions for a three-year term. The order is already in effect. Casinos such as Slotxo may only allow Vietnamese people to wager if the entire investment capital of the casino is at least US$2 billion.
The minimum age is the same as it is for betting, which is 21 years. Players must earn at least VND 10 million (US$445) every month. Furthermore, they must receive approval from their family and have no criminal record. Every 24 hours, a ticket costing 1 million VND ($44) is required to enter a casino. A monthly pass is also available for 25 million VND ($1,100).