Decree No. 06/2017/ND-CP regulations on trading betting on horse racing, dog racing and international football.

On 03/02/2017 Prime Minister Nguyen Xuan Phuc formally signed the decision on issuing Decree No. 06/2017/ND-CP to manage business activities and administrative sanctions in business activities, horse racing betting, dog racing and soccer betting pilot The territory of Vietnam. This decree will start to take effect on 31/03/2017. This is considered a promising signal for the booming development of a new business type.

As prescribed in this decree, only enterprises who are granted certificate of business are eligible to be allowed to operate, this is considered a conditional business operation, not encouraged to develop , should be subject to strict control of competent state management authorities. and conditions for certification of eligible betting business in horse racing, dog racing includes:

  • Completed the construction of the horse racing School, the dog race is prescribed in the certificate of investment registration or the decision-making of investment;
  • Has a fully equipped technology, technical equipment, business software to organize horse racing activities, dog racing as prescribed in this Decree;
  • There are trading betting schemes, dog racing feasible, modes of distribution ticket bet, the venue distributes the appropriate bet ticket rules.

Rules for players are individuals aged 21 years or older, have civil behaviour and irrespective of nationality. However, the decree has excluded objects that are not allowed to participate in bets including those with the executive task, business management of the bet, the horses, players, arbitration and fathers, parents, spouses , their gut. The minimum bet level for one set is 10,000 (ten thousand VND) and maximum no more than 1 million VND per day for each product bet.

In addition, the decree also regulates prohibited acts in business bets including:

  • Trading bets when the certificate is not eligible for the business, and or incorrectly the content is authorized by the State Management authority to be licensed;
  • Participate in the arrangement or agreement to make a misleading event result;
  • Business businesses bet for players who borrow money to join the bet….