Proposal to raise international football betting maximum to 100 million VND per day

VCCI said businesses and experts in the field assess that the maximum daily cap on horse racing and international football betting of VND10 million is still too low.

The Vietnam Federation of Commerce and Industry (VCCI) has just sent a document to the Ministry of Finance to provide comments on the Draft Decree replacing Decree 06/2017/ND-CP on Betting Business on Horse Racing, Dog Racing and International Football.

Regarding the betting limit, according to VCCI, businesses noted that raising the maximum bet per player from 1 million VND as in Decree 06/2017/ND-CP to 10 million VND in the Draft is positive and consistent with changes in average income per capita.

" However, according to feedback from businesses and experts in the field, this ceiling is still too low compared to market reality and is not enough to create conditions for the legal betting business model to operate effectively ," VCCI stated.

VCCI said businesses proposed to consider raising the maximum betting level on horse racing, dog racing and international football to 100 million VND/person/day.

According to VCCI, currently, the majority of revenue value of legal betting businesses in developed countries comes from players with high betting levels.

Meanwhile, illegal betting platforms operating in Vietnam are not limited to betting levels, causing players to tend to switch to illegal platforms for a more flexible experience. This not only causes loss of State budget revenue but also weakens the effectiveness of the management mechanism.

Therefore, VCCI said that businesses proposed to consider raising the maximum betting level to 100 million VND/person/day, or at least allowing businesses to apply the level of 10 million VND/day for each betting product, instead of limiting the total betting level per day.

Raising the limit would allow legitimate businesses to reach high-spending customers while increasing competition with the underground market. The government could use parallel management tools such as player identification, cash flow monitoring, and risk warnings to limit negative impacts.

Previously, in the draft Decree on betting business on horse racing, dog racing and international football, replacing Decree No. 06 issued 8 years ago, the Ministry of Finance submitted to the Government the maximum bet for each player is 10 million VND/day instead of 1 million VND/product/day. The minimum bet is kept at 10,000 VND/time as currently.

Hieu Nguyen

Source: https://vtcnews.vn/de-xuat-nang-muc-dat-cuoc-bong-da-quoc-te-toi-da-100-trieu-dong-moi-ngay-ar972186.html