Proposals suggest increasing the betting limits for international football, horse racing, and dog racing to 100 million VND per day.

The Vietnam Chamber of Commerce and Industry (VCCI) has proposed increasing the betting limit for horse racing, dog racing, and international football to 100 million VND per day, ten times higher than the limit proposed by the Ministry of Finance after consultation with relevant parties.

Horse racing at a racetrack in Lam Dong - Photo: LA

The Vietnam Chamber of Commerce and Industry (VCCI) has submitted its comments on the draft decree replacing Government Decree 06/2017 on the business of betting on horse racing, dog racing, and international football to the Ministry of Finance .

Raise the stakes to compete with underground betting.

The Vietnam Chamber of Commerce and Industry (VCCI) has proposed raising the maximum betting limit to 100 million VND per person per day, or allowing businesses to set a limit of 10 million VND per day for each betting product. This limit is 10 times higher than the proposal put forward by the Ministry of Finance in the draft decree replacing Decree 06/2017.

Raising betting limits will allow legal betting businesses to access high-spending customer groups, while also increasing competition with the underground betting market.

Previously, in the draft decree amending Decree 06/2017 on the business of betting on horse racing, dog racing, and international football, which is currently open for comments from ministries, sectors, and localities, the Ministry of Finance raised the betting limit from the current 1 million VND/day to a maximum of 10 million VND/day.

However, many gambling businesses argue that the Ministry of Finance's proposal is too low compared to the realities of the gambling market and does not create conditions for legal gambling businesses to operate effectively.

Suggestions for online gambling advertising.

Regarding advertising for horse racing, dog racing, and international football betting, VCCI proposes expanding the scope of advertising, allowing betting businesses to provide information on how to participate, warning of risks, and guidance on responsible gambling.

Businesses are allowed to advertise gambling activities on online platforms such as social media, search engines, and mobile applications, provided they control the age of those accessing the ads, include liability warnings, and comply with the registered advertising content guidelines.

Meanwhile, according to the draft decree on gambling business prepared by the Ministry of Finance, gambling businesses are prohibited from advertising outside their headquarters and websites, and advertising content is restricted to only including the name, address, logo, product name, business location, and eligible players.

Betting businesses argue that the regulations in the current draft decree are too strict, especially in the context where digital media has become the primary channel for reaching customers.

Furthermore, VCCI also recommended that the Ministry of Finance add regulations allowing gambling businesses to offer controlled promotions to players. All promotional programs in gambling operations must be approved by the Ministry of Finance beforehand.

Increase the percentage of foreign investment in gambling projects.

Regarding foreign investors' capital contributions to projects and businesses involved in horse racing, dog racing, and international football betting, the Ministry of Finance proposed a regulation stipulating that the foreign investor's capital contribution ratio should not exceed 49%, but the Vietnam Chamber of Commerce and Industry (VCCI) recommended amending the draft to stipulate a 50% foreign investor capital contribution ratio for betting projects and businesses.

According to VCCI, this level of capital contribution will ensure a balance of power between domestic and foreign investors, increasing the attractiveness of projects.

In its recent submission to the Ministry of Finance, VCCI also proposed reducing the budget contribution rate for gambling businesses.

According to the draft decree on gambling business, gambling businesses will contribute 10% of their revenue from betting ticket sales after deducting prize payouts to the state budget. In addition, businesses will be subject to a 30% special consumption tax and a 10% value-added tax.

The Vietnam Chamber of Commerce and Industry (VCCI) proposes reducing the budget contribution rate for gambling businesses to 5% of ticket sales revenue during the pilot phase, and then gradually increasing the contribution rate according to a schedule once the businesses have a stable revenue stream.

BAO NGOC

Source: https://tuoitre.vn/de-xuat-tang-muc-ca-cuoc-bong-da-quoc-te-dua-ngua-dua-cho-len-100-trieu-dong-ngay-20251021134228663.htm