Local Interest
Vietnam May Finally Legalize
Sports Betting by Saigoneer .
After almost 18 years of discussion , Vietnam ’ s Ministry of Finance is leading the effort to legalize sports betting .
According to Zing , a resolution to allow betting on horse and greyhound races as well as soccer matches will be submitted to the government before December 1 . Under the proposal , select cities and provinces will be chosen for a five-year pilot run of the new regulation . Unlike previous proposals , which would have allowed individuals from age 18 and up to gamble legally , the new decree is restricted to those above 21 years old , reports the news outlet . It is also expected that officials will limit an individual ’ s daily bets to VND1 million ( US $ 44 ). In addition , bookies must be located at least 500 meters away from schools and public venues for children .
Businesses will be able start taking bets and selling tickets via phone as well , though it remains unclear whether online betting will also be legalized . Meanwhile , Hanoi is waiting for the government to green-light a US $ 500 million project to build a racetrack , golf course and entertainment complex .
We all know that gambling happens already perhaps this is a positive step forward whereby the Government can curve the illegal habits of some not so reputable outlets that are charging unbelievable interest rates on non paid gambling debts , the payments are not just cash in many cases especially where the family are too poor and the only asset they have of any real value is their children .
[ Photo via Zing ]
The MAG Vung Tau 5