Takes effect on March 31, 2017, the Decree No. 06/2017/ND-CP dated January 24, 2017 of the Government on business of betting on horse racing, greyhound racing and international soccer, The Government allows 01 enterprise to pilot the business of betting on international soccer. The duration of pilot international soccer betting business shall be 05 years since the day on which the Certificate of eligibility for international soccer betting business is issued.
Any enterprise carrying out the pilot international soccer betting business must satisfy the requirements such as the minimum charter capital shall be VND 1,000 billion (one thousand billion dong) or an equivalent amount; there shall be a plan on investment in the system of technology, technical equipment and business software to ensure its modernity and consistence to be upgraded easily and operated accurately, safely and stably and there shall be a feasible plan on the business of betting on international soccer and ticket selling methods and locations conformable to law provisions…
On limit of bets, each wager must not be less than VND 10,000 (ten thousand dong). Each wager on each type of bet through a bet-organizing enterprise must not exceed VND 1,000,000 (one million dong). And bettors shall be at least 21 year olds and have fully legal capacity as prescribed by law. Persons whose parents, spouses or children who have fully legal capacity or who themselves request the bet-organizing enterprise to prevent them from placing bets; not allowed to place bets.
Particularly, running a betting business without a Certificate of eligibility for betting business; running a betting business inconsistently with the contents licensed by the competent authorities according to laws; any enterprise knowingly conducts sales promotion activities shall be imposed a fine of from VND 180,000,000 to VND 200,000,000; fine of from VND 5,000,000 to VND 10,000,000 shall be imposed on the falsification of the betting ticket to receive the winning prize. A fine of from VND 10,000,000 to VND 20,000,000 shall be imposed on acts such as forging betting tickets to receive prizes; illegal arrangement to fix the result of the event; forging the betting results…
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