The Vietnamese government may once again entertain bids for would-be sports betting operators.
According to the Hanoi Times, a new bidding framework is part of a recently issued government decree. While no financial details are yet available, a previous attempt to draw sports betting investors was fruitless because of the buy-in.
The original decree, issued in 2017, authorized a five-year pilot program in which selected companies could offer betting on UEFA leagues. However, the minimum capital investment of VND1 trillion (US$43.5 million) attracted zero interest, and the pilot never launched.
In 2021, Inside Asian Gaming reports, the government proposed amending the original decree, sweetening the deal by adding more global football events including the Champions League, the Europa League, the AFC Cup and Copa America. The amendment would also permit betting on matches in which Vietnamese teams participate, such as World Cup qualifiers, the Olympics, the Asian Cup, the AFC U-23 Championship and U-20 World Cup. But an amended version of the decree was never issued.
Meanwhile, the black market for football betting in Vietnam is estimated to generate tens of billions of dollars per year, operating without government regulations and contributing no taxes.
