Betting is no longer strange to sports lovers, especially football. However, whether sports betting is legal or not is an issue that many people are concerned about. Let’s New88 Please investigate the current legal regulations regarding this betting!
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What is the legal basis?
Soccer betting is regulated by documents such as the 2015 Penal Code, amended and supplemented in 2017. Decree 144/2021/ND-CP and Decree 06/2017/ND-CP.
According to the law, soccer betting for the purpose of betting money or in kind is a form of illegal gambling. People who participate in illegal soccer betting may be subject to administrative violations or even criminal prosecution.
In the administrative field, illegal betting acts are handled according to the provisions of Point c of Clause 2, Article 28 of Decree 144/2021/ND-CP.
Regarding criminal law, betting behavior is divided into two criminal cases: participating in betting (according to Article 321) and organizing betting (according to Article 322) of the 2015 Penal Code, as amended and supplemented. in 2017. Specifically, betting behavior is considered part of the crime of gambling or the crime of organizing gambling or gambling.
However, Decree 06/2017/ND-CP regulates the business of betting on horse racing, greyhound racing and international football betting. Therefore, betting that complies with the conditions of this decree is considered legal.
When is sports betting legal?
Soccer betting is considered legal if it complies with the regulations set out in Decree 06/2017/ND-CP. It regulates the business of betting on horse racing, greyhound racing and international football. This especially applies to players who want to participate in soccer betting, but only at establishments that have been licensed to do international soccer betting according to regulations.
Required conditions for players are to be 21 years old or older and the bet amount per game must be between 10,000 VND and 1 million VND. On the contrary, betting that does not comply with legal conditions may be considered a violation of the law.
How to legalize betting?
Soccer betting in Vietnam is legalized when participating in a betting organization fully complies with the conditions. Especially related to participating individuals, organizations, and betting levels, specifically as follows:
For legal sports betting organizations
Organizations that are allowed to organize soccer betting must comply with the following conditions to do so register Betting business and require a business certificate as prescribed in Article 38 of Decree 06/2017/ND-CP (amended by Decree 151/2018/ND-CP):
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- International soccer betting business: The Government will grant a trial license to a business for the next 5 years. It will conduct a review to see whether the business continues to operate.
- Enterprises participating in the international soccer betting business need to have a charter capital of at least VND 1,000 billion and meet other regulations.
- There must be a plan to invest in technology systems, technical equipment and business software to operate accurately, safely and stably.
- Must have a feasible international soccer betting business plan. Including the betting ticket distribution method and betting ticket issuance location in accordance with the provisions of this Decree and the law.
What about people participating in soccer betting?
According to the provisions of Article 7 of Decree 06/2017/ND-CP: Legal sports betting, players must be 21 years old or older. They have full awareness of civil act capacity according to the provisions of law.
Subjects not allowed to participate in betting include:
- People under 21 years old.
- Managers, executives, employees and their relatives in betting businesses.
- Jockeys, players, referees and their families participate in betting.
- The subjects placed by the betting business refuse to participate in betting.
Regulations on legal sports betting levels in Vietnam
Players are required to comply with the following regulations:
- The minimum bet is 10,000 VND (ten thousand VND) for each bet.
- The maximum bet per player per day for each betting product at a betting business is 1,000,000 VND (one million VND).
However, adjustments to the allowed betting levels may change from time to time as decided by ministries submitting to the Government.
Conclude
The above article is all the information about legal sports betting that you should know. Hopefully through the article you will have a new and deeper look at it. Follow New88 to continuously update hot hit news! Thank you very much.
