According to Decree No. 06/2017/NĐ-CP on the horse and dog racing and international football betting business, each gambler can only place a bet of between VND10,000 and VND1 million for each betting product at a betting service provider per day.
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According to Decree No. 06/2017/NĐ-CP on the horse and dog racing and international football betting business, each gambler can only place a bet of between VND10,000 and VND1 million for each betting product at a betting service provider per day.
As for horse and dog racing betting, betting products are based on the final ranking of participating horses and dogs in the race organized by a betting firm.
As for international football betting, betting products are based on the score of each half or the entire match, the events occurring during the match and the rankings of teams during a tournament. The matches and tournaments selected as a foundation for betting must be the international matches and tournaments announced and approved by the International Football Federation (FIFA). The Ministry of Culture, Sports and Tourism is responsible for announcing the list of international matches and tournaments chosen as a base for international football betting.
The bettors must be at least 21 years old and have full civil act capacity in accordance with the law.
The people outside the abovementioned group are ineligible for betting. In addition, management and executive officials and their fathers, mothers, wives, husbands and children, and employees of betting firms are not allowed to participate in betting products organized by their own firms.
Minimum payout at 65% of ticket sales
As for fixed payouts, the payout ratio depends on the odds and is maintained at minimum 65% of ticket sales for each type of betting products.
The organization of bets on horse and dog races is decided by betting firms but has to ensure a frequency of no more than three days per week. Horse and dog races for betting must finish before 11pm of the day when bets are organized.
As for horse and dog racing, the betting time ranges from 12 hours to at least one minute before the race starts.
As for international football betting, the betting time starts from the moment when the organizing committee announces the schedule and venue of the event, and finishes at least five minutes before the betting event concludes.
(Source:VGP)
