Vietnam Moves to Tighten Betting Rules and ID Controls

Vietnam’s gambling landscape is poised for a significant shift as authorities move to tighten oversight and bring betting activity firmly under regulatory control. As part of efforts to align domestic rules with international financial compliance standards, the Ministry of Justice has proposed mandatory identity verification for individuals betting on football, horse racing and dog racing. This initiative is being incorporated into a draft decree intended to replace the current regulatory framework introduced in 2017.

If adopted, the new rules would effectively eliminate anonymous betting. Following consultations led by the Ministry of Justice, the Ministry of Finance has incorporated provisions requiring bettors to submit comprehensive personal information when opening an account. This includes full name, date of birth, nationality, occupation, contact details and both permanent and temporary residential addresses. Authorities have stressed that these requirements are not merely administrative, but are essential for compliance with Vietnam’s 2022 Anti-Money Laundering Law.

Disagreement Over Betting Limits

While government agencies broadly agree on the need for stricter identification standards, debate has emerged around betting limits. The Ministry of Science and Technology proposed raising the maximum daily betting threshold to VND 100 million (around US$3,800) or alternatively setting a cap of VND 10 million per individual betting product. Officials supporting the proposal argued that higher limits would help licensed operators compete more effectively with illegal betting networks that impose no wagering restrictions.

The Ministry of Finance rejected these suggestions, choosing instead to preserve the existing cap. Under the draft decree, individuals would continue to be limited to wagering no more than VND 10 million (approximately US$380) per day with any licensed operator. Finance officials reiterated that legal betting is intended as a form of entertainment rather than a means of profit generation. They cited Vietnam’s average annual income of about US$5,000 per capita as justification, emphasizing the need to curb excessive gambling that could threaten social stability or public order.

Broadening Legal Betting Options

Although monetary limits will remain unchanged, regulators acknowledge that the current betting framework is too narrow to attract meaningful investment. At present, legal betting is largely confined to FIFA-recognized tournaments, resulting in only a handful of eligible events each year.

Responding to input from the Ministry of Public Security and prospective investors, the revised draft significantly expands the list of approved competitions. Under the proposed changes, betting would be permitted on major matches organized by UEFA, AFC, CONMEBOL and CONCACAF. National leagues and cup competitions from leading football nations such as England, Italy, Spain, Germany, France, Brazil and Argentina would also be included, reflecting the strong following these leagues enjoy among Vietnamese fans.

Pilot Phase and Centralized Control

The expansion of international football betting will be introduced cautiously. The draft decree establishes a pilot phase that limits participation to a maximum of three licensed operators. Given the sector’s sensitivity and its potential links to money laundering and public security concerns, authorities have opted against opening the market broadly at this stage.

Rather than relying on an open licensing process, the authority to select pilot operators will rest directly with the Prime Minister, in accordance with Vietnam’s Investment Law. The approach underscores the government’s intent to strike a careful balance: curbing illegal betting activity while maintaining firm oversight to safeguard social order and financial integrity.