Vietnam’s National Assembly passing a new bill legalizing sports betting has been the talk of many media outlets this past week. As Vietnamese continue to be arrested for running illegal sports betting rings during World Cup, one can’t help wonder if government rules for sports betting will keep the Vietnamese gambling underground.
The main problem with legal sports betting in Vietnam are outlined by the Vietnam Brief quite clearly:
Maximum bet allowed is VND1 million (US$ 44) per day
During the five-year pilot program, only one betting operator will be provided the investment registration certificate.
The government only allows international soccer games recognized by FIFA, the international governing body, which includes the World Cup, the Confederations Cup, Copa America, Champions League, and Europa League.
This is a country that still gambles on cockfighting for anyone unfamiliar.
More than 600 billion dong (US$26 million) was earned by one betting ring in Hanoi according to state media.
With the increased popularity of bitcoins and altcoins in Vietnam, our guess is that gambling on bitcoin casinos and sports betting sites will become more popular than it already is in the country. As mentioned on the popular VPN site private internet access, the banning of Facebook in Vietnam increased Tor use by 10% in the country. Perhaps the regulation of crypto mining in Vietnam will be more problematic as Vietnamese citizens continue to find ways around the financial and internet blocking the government is trying to force people to live under.