Decree 06/2017/ND-CP dated January 24, 2017 (Decree 06) stipulates the business operation management and penalties for administrative violations in regards to operating a business for betting on horse and greyhound races for piloting international soccer betting within the territory of the Socialist Republic of Viet Nam.
Question: What are the conditions for betting business and subjects allowed for betting?
Answer: Decree 06 stipulates regulations on conditions and subjects for betting business.
Under Decree 06, the betting business is being opened without being encouraged and is subject to tight control of the competent state management authorities. Only enterprises that are issued a certificate of eligibility for a betting business as prescribed by the Decree can conduct a betting business. VND is the currency used for buying betting tickets and payouts. The specific conditions for being granted the certificate of eligibility for abetting business include the following:
(i) Regarding enterprises organizing horse races and greyhound races
Enterprises are required to have a minimal investment capital of VND 1,000 billion for a horse betting and VND 300 billion for a grey hound betting business; to have a plan to invest in the technological system, technical equipment and business software that ensures their modernity, compatibility, is easily upgradable and accurate, and provides safe and stable operations; and to undertake works to ensure social security and order and give community assistance.
(ii) International soccer betting business
Pursuant to this Decree, the Government will allow only one enterprise, which will be selected through a bids process, to pilot an international soccer betting business. The timeframe for the pilot will be 5 years as from the issuance of the certificate of eligibility for an international soccer betting business. This enterprise is required to meet such conditions as having a minimal investment capital of VND 1,000 billion, having a plan to invest in the technological system, technical equipment and business software that ensures their modernity, compatibility, is easily upgradable and accurate, and provides safe and stable operations; and provides safe and stable operations; and to undertake works to ensure social security and order and give community assistance.
Subjects allowed for betting
Pursuant to Decree 06, the subjects who are allowed to bet must be at least 21 years old with full capacity for civil acts and not belong to corporate betting organization, or a related persons to someone who does belong to a to corporate betting organization; active participants and related persons to the sport; subjects prevented from betting by their relatives who submit a request for their non-participation to corporate betting organization; persons who have either been convicted or charged of a crime; under criminal prosecution or have not yet been cleared from any crime or are undergoing procedures for taking re-education at a commune, ward, town or are sent to mandatory reformative schools, re-educational schools or rehabilitation centers./.