New: Proposal to increase football betting limit to 100 million VND/day

What does VCCI recommend about football betting?

The Vietnam Federation of Commerce and Industry ( VCCI ) has just sent the Ministry of Finance comments on the draft Decree replacing Decree No. 06/2017/ND-CP on betting business on horse racing , dog racing and international football .

According to VCCI, regarding the limit on international football betting, 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, consistent with changes in average income per capita.

Businesses propose to consider raising the maximum football betting level to 100 million VND/person/day

PHOTO: REUTERS

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

Currently, the majority of revenue value of legal betting businesses in developed countries comes from high-stakes players.

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.

Raise the stakes to increase competition with the underground market?

Businesses proposed to consider raising the maximum bet to 100 million VND/person/day or at least allowing businesses to apply 10 million VND/day for each betting product, instead of limiting the total bet amount per day.

"Raising the limit will create conditions for legal businesses to access high-spending customers, while increasing competition with the underground market. The State can apply management tools in parallel such as player identification, cash flow monitoring, and risk warnings to limit negative impacts," VCCI explained.

Regarding the starting time of the pilot period for international football betting business, the draft currently stipulates a pilot period of 5 years from the date the enterprise is granted a Certificate of eligibility to conduct international football betting business.

However, according to VCCI, in reality, after being granted the certificate, the enterprise still needs time to complete the technical system, sign copyright contracts, build a staff and carry out other preparations before being able to officially operate.

If the pilot period is calculated from the date of certification, it will result in the enterprise not having enough actual time to implement the business and prove the model's effectiveness. This affects both the enterprise (difficult to recover capital, difficult to evaluate effectiveness) and the management agency (difficult to have complete data to summarize).

VCCI proposed to amend the regulation in the direction: "The pilot period is calculated from the date the enterprise officially starts operating international football betting business (confirmed in writing by the management agency), instead of from the date of issuance of the Certificate of eligibility to do business". This regulation ensures accuracy in evaluating the pilot model.

Source: https://thanhnien.vn/moi-de-xuat-nang-muc-dat-cuoc-bong-da-len-toi-da-100-trieu-dong-ngay-185251021114719689.htm