Is Online Sports Betting Legal in Vietnam?
In the recent past, the Government of Vietnam has signed several decrees to authorize the betting business. The decrees opened doors for land-based gambling facilities to operate in the country. While the access to these facilities is mainly for tourists in Vietnam, the country’s citizens can also participate. However, the government prohibits online gambling in the country, and there are no Vietnam-owned
online casinos operational within its borders.
The Popularity of Online Sports Betting in Vietnam
People wonder about the popularity of betting in Vietnam. As seen on bestbettingsites.com, sportsbetting activities are a huge thing in Vietnam. It is in the Vietnamese culture to bet. The industry prospers despite the government prohibiting locals from participating in online gambling activities.
Regulation of Online Sports Betting in Vietnam
Popular magazines continually inform Vietnamese citizens of gambling decrees in the country. While sports betting is illegal in Vietnam, the citizens have found a way to bet on their favorite sports through
offshore bookmakers and international betting sites. Research showed that Vietnamese gamblers spent
billions of money every year betting on overseas gambling sites. Yearly, the government estimates that
the money could go up to 12% of the total growth.
Following this, the government has decided to regulate the market to contain offshore gambling and betting. Besides catering to the gambling enthusiasts, this will increase the tax revenues, minimize the monetary outflow, and bring more foreign investors into Vietnam. It is a road to freedom.
Online Sports Betting Laws and Decrees in Vietnam
In June 2018, the Vietnamese National Assembly passed a bill that legalized sports betting. However, anyone that bets must fulfill the government-imposed guidelines. This was just in good time for the 2018 FIFA World Cup, and gamblers loved it. This was after the March 2017 decree. It legalized betting
on international football games, greyhound racing, and horse racing. The decree included a five-year
plan for betting, greyhound racing, as well as international football. Dubbed ‘Decree 06’, it had stringent conditions on how firms were to carry out their betting activities.
● Any horseracing and football require a charter capital of VND 1trillion and VND 300 billion for
greyhound racing.
● For football betting, only one operator will get the investment registration certificate. During
this time, the government stated that only soccer games recognized by FIFA would be eligible.
● Companies interested in horseracing and greyhound racing must be in the form of limited liability or a joint-stock company (recognized by the government)
● Every player must be over 21 years.
● Gambling firms must set the minimum bet on sports at VND 1,000 while the maximum allowed
is VND 1million.
How to Safely Access Online Sports Betting Sites in Vietnam
While online sports betting is still illegal in Vietnam, it is gradually getting more manageable. However, ardent bettors must know that it is not accessible hence the need to be careful when signing up on any site. You do not want to fall victim and bear heavy penalties for engaging in sports betting. One of the safest ways to access your preferred bookmaker is by using VPN (Virtual Private Networks) and otherdiscreet methods.
Access the Site Using a Reputable VPN
By the start of Euro 2012, the Vietnam government blocked over 180 gambling domain names and more
than 190 IP addresses. As a result, most sports betting sites fell victim, and gamblers suffered. Now, if
you want to bet on your favorite sports while in Vietnam and your selected sports betting site is blocked, you need to sign up for an offshore VPN. Most people use ‘Singapore VPN’ as the country is not
so far away and gives you quick service. Coincidentally, most Asian sports betting sites that accept Singaporean bettors will also accept bettors from Vietnam. Thus, bettors can comfortably buy a good VPN subscription, mask their IP address, and begin betting. With the VPN, you can browse your selected
sites without fear.
Selecting Discreet Payment Methods
The methods you use to deposit funds into your selected sportsbook are very crucial. Using your credit card could easily cause your payment to be blocked. This is because banks link your cards to your name and physical address, which is a colossal sell-out. If this happens, you risk fining. To avoid this, you can go for discreet payment methods such as e-wallets and cryptocurrencies. Popular e-wallet payment methods include PayPal, ZaloPay, Momo, and Mobiamo.
Top Sports Betting Sites in Vietnam
● Stake
● BetWinner
● 22Bet
● 20Bet
● Mozzart Bet
● ZigZagSport
● BetShah
● W88
● FezBet
● ComeOn
The Future of Online Sports Betting in Vietnam
Vietnam represents a very vast and profitable gambling market. While it is illegal to bet on online sports,
international gambling companies still compete for a share of the country. However, some have found
themselves in hot soup with the government and have had their IPs blocked. The country has had
several decrees concerning gambling, which indicates that the government could make things lighter for
online bettors in the country. It is a promising future.
