ex. Game, Music, Video, Photography

One year after Vietnam legalized soccer betting, bookmakers remain reluctant to invest

Strict capital requirements and restrictions on eligible soccer leagues are to blame.

Ngày đăng: 16 tháng 9, 2021
Cập nhật: 16 tháng 1, 2023
Lượt xem: 318396556
Nguồn: vnexpress

One year after Vietnam legalized sports betting, no soccer bookmaker has set up shop in the country.

“Only a few companies have shown interest in operating a betting business in Vietnam, and none of them have actually submitted bidding documents,” an unnamed source from the Ministry of Finance told Thanh Nien (Young People) Newspaper.

Lack of agreement between relevant ministries on how to organize the bidding is among the reasons for the delay, the source said.

Operators of bookmaking businesses in Vietnam have to meet strict capital requirements of VND1 trillion ($44.2 million) for soccer. A bidding process is held to select one soccer betting provider for a five-year trial phase.

“Although considered reasonable, the capital requirement is still quite high for many enterprises,” economist Nguyen Tri Hieu told VnExpress International. “This can be a barrier for those who want to operate a betting business here.”

Another reason lies in limited betting options. Vietnam only allows betting on international soccer games recognized by the governing body FIFA and approved by the sports ministry. They include the World Cup, the Confederations Cup, Copa America, Champions League and Europa League. These are all short tournaments with limited number of matches, leaving a lot of ‘idle time’.

Meanwhile, the most popular leagues among Vietnamese, English Premier League (EPL), La Liga (Spanish League), German Bundesliga, Serie A (Italia) and Ligue 1 (France), are out.

If a bookmaker were to operate only FIFA recognized tournaments, they would suffer heavy losses, according to Hieu. Adding the five major European leagues, on the other hand, will make a big difference as they are active throughout the year and have weekly fixtures.

Gambling is considered by Vietnam a “social evil” that needs curbing.

Stories of locals breaking the long-running gambling ban, creating a lucrative illegal industry for online betting, are common. A number of high profile online operations have been busted in recent years.

But the government has showed signs of changing attitude last year when it legalized sports betting and said it would allow Vietnamese citizens aged over 21 with a monthly income of at least VND10 million ($445) to gamble at designated casinos. This seems to be a historic decision by the government as it would to open doors for foreign and domestic operators as well as local betting activities.

Online betting, however, remains out of question.


Tin tức liên quan

VPS Securities emerges leading brokerage by market share
business 24/09/2021

VPS Securities emerges leading brokerage by market share

companies | 336576561

Brokerage VPS Securities has dislodged SSI Securities Corporation to become the top brokerage, with a 13.24 percent market share in Q1.

 Top vocational training schools fail to attract students
news 31/03/2021

Top vocational training schools fail to attract students

news | 176036596

Despite pouring billions of dong into modern equipment and study materials, many vocational training schools have low enrollment rates.

 Enterprises need to take a hand in vocational training: VCCI
business 31/03/2021

Enterprises need to take a hand in vocational training: VCCI

business | 176026597

Some experts believe that to ensure it has quality human resources Vietnam needs to attract the private sector to vocational training.

Missing gold miners found dead after five day search in central Vietnam
news 20/09/2021

Missing gold miners found dead after five day search in central Vietnam

news | 328396557

Authorities have found the three missing gold miners who were confirmed dead due to suffocation in north central province of Thanh Hoa, after five days of searching.

Pentagon says China aircraft intercept violated 2015 agreement
world 21/09/2021

Pentagon says China aircraft intercept violated 2015 agreement

world | 330136549

The Pentagon has concluded that an intercept of a U.S. military aircraft by Chinese fighter jets last week over the South China Sea (Vietnam's East Sea) violated an agreement the two governments signed last year, a U.S. defense official said on Thursday.

 Tourism boom threatens Vietnam
travel-life 22/03/2021

Tourism boom threatens Vietnam's 'Tonkinese Alps'

travel-life | 58526597

'If building continues at this rate, then one day we will lose Sapa.'

 TV ad fees to skyrocket during Vietnam
sports 05/06/2021

TV ad fees to skyrocket during Vietnam's World Cup qualifiers

football | 215736593

Businesses that want to advertise during the hours of Vietnam's upcoming World Cup qualifiers will have to spend more than twice the normal rate, according to national broadcaster VTV.

Vietnam opens first regular media briefings on human rights
news 17/09/2021

Vietnam opens first regular media briefings on human rights

news | 320966565

The Ministry of Information and Communications yesterday officially launched a communication initiative to allow the media to access information on human rights and encourage reporting on these issues.

 Oregon city fires its grounds-keeping goats with
world 07/05/2021

Oregon city fires its grounds-keeping goats with 'barnyard aroma'

world | 201116584

Oregon city sacked 75 goats once hoped to help eat all the invasive plants because of their indiscriminate diet, exorbitant operating cost and stink.

Dolphins put in a surprise appearance off central coast
travel 16/09/2021

Dolphins put in a surprise appearance off central coast

places | 319246566

Videos of dolphins swimming in groups off the coast of popular beach destinations Nha Trang and Binh Thuan in central Vietnam have sparked some excitement.

Link Tài Trợ - Sponsored Links

Công Thức Vật Lý
Loading…