Punters in Vietnam cheered the easing of a ban on sports betting yesterday, as the communist government moves to bring a booming black market industry above board.
Vietnam has long barred locals from gambling of any kind, allowing just a few foreigner-only casinos.
However, the law is widely flouted — especially in the run-up to major sporting events — when millions of US dollars change hands through illegal gambling dens or online betting rings.
On Friday the government announced a pilot program that would allow Vietnamese over 21 to place wagers on international soccer matches.
It follows a similar announcement last month that said Vietnamese would be permitted to place bets in local casinos from the middle of next month.
“The matches and tournaments for international football betting must be recognized by FIFA,” the new decree said, adding that gambling would also be allowed at horse and greyhound races.
However, there is one catch — the soccer bets cannot exceed 1 million dong (US$44.17) per match, a limit that is unlikely to satiate Vietnam’s most passionate punters.
The betting is also to be restricted to state-approved bookmakers.
The announcement was nevertheless welcomed by many in Vietnam, where soccer and a flutter go hand-in-hand as national obsessions.
“Bravo! No need for secret betting,” online commentator Nguyen Thanh Phuc wrote beneath an article on VnExpress that hailed the move as a “historic decision.”
However, some expressed concern that gambling, long branded a “social evil” by the government, would now run wild in a country where punters are already known for staking their savings — and even their homes — on big tournaments.
The moves to ease Vietnam’s strict betting and casino bans come after years of debating whether to legalize gambling and open the government up to millions in potential tax revenue.
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