Int'l Soccer Betting Operators Eying Vietnam
Many renowned soccer-betting operators in the world including Besides Singapore Pools and Britain’s Ladbrokes are now seeking to enter Vietnam after local lawmakers announced consideration to legalize the operation for the first time, according to Deputy Sports Minister Huynh Vinh Ai.
Ai worked with some representatives of Ladbrokes yesterday evening.
According to Ai, Vietnam is now seeking consultants for a plan of allowing legal soccer betting in the country, a sensitive field that has been banned in Vietnam before.
For foreign investors, allowing gambling can bring about for Vietnam a large amount of money through tax collection, but Vietnam has always believed this may lead to disorder and other social evils in the country. The soccer betting market in Vietnam, therefore, is huge.
The ongoing plan aims to generate money for the country's sports industry and curb rampant illegal gambling. Vietnamese sports authorities would thus move cautiously, imposing ceilings on the amounts that could be wagered and regulating the age of participants.
Vietnam has become more famous in term of football-betting after the case related to a State official spending up to $2.6 million on the now-illegal operation was uncovered.
VnEconomy
Vietnamese
