European soccer a favorite
Vietnamese residents will soon be able to legally bet on soccer.
Under a decree signed by Prime Minister Nguyen Xuan Phuc, a five-year trial of the legal wagers will take effect by the end of March. Vietnamese adults over the age of 21 will be allowed to place bets of up to $44 a day, with a minimum bet of 44 cents, according to the Associated Press.
The government will choose one operator to offer the bets. That company must have offer investment capital of at least 1 trillion dong (US$44 million), the AP reported.
After the five-year period, the government will decide whether to extend the arrangement, which allows betting on horse and dog races. It’s the latest shakeup in the country’s gaming industry. In a revolutionary move last month, the government issued a decree allowing locals into casinos that previously had been open only to foreigners.
Despite the longstanding ban on sports bets, the AP reported, the Vietnamese “are passionate about soccer” and often bet on European matches. Last June, police in Quang Binh Province arrested 13 people for their involvement in a ring that organized bets on European soccer, with bets that totaled $132 million.
