Details

Summary Decree 06/2017/ND-CP on horse, dog racing and international football betting
Document No. 06/2017/NĐ-CP
Field Enterprise - Investment
Document Type
Organization
Date of issuance 24/01/2017
File Attachment
Content

On January 24th 2017, the Government promulgated Decree06/2017/ND-CP on horse, dog racing and international football betting. The decree officially takes effect as from March 31st 2017.

According to the decree, horse racing, dog racing and international 

football betting in Vietnam is conditional business activity, not encouraged to develop and strictly controlled by state management agencies to ensure compliance with the provisions of this Decree and relevant laws.

Only enterprises that are issued a certificate of eligibility for a betting business as prescribed by the Decree and enterprises that are piloted before the new decree promulgation can conduct betting business.

VND is the currency used for buying betting tickets and payouts

Especially for the international football betting service, the Government will allow only one enterprise, which will be selected through a bids process, to pilot an international soccer betting business for 5 years.After the piloting time, the Government will review and evaluate whether to continue to allow this business.

The Decree specifies the prohibited activities in the betting business, including: Betting business without a certificate for betting business; The business is not in line with the content licensed by a competent state management agency as prescribed; taking part in arrangement or agreement to distort the réults of a bet; businesses lending money to bestors to participate in bets.

Violations in betting activities such as ticketing, player management, bonus payment, information disclosure ... will be fine d 10-200 million VND, accompanied by deprivation of the license for a period of time or permanently.

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