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Vietnam Passes Bill That Legalizes Sports Betting

Yay or nay?

On the morning of June 14, the national assembly passed a bill regarding an updated version of the current Law in Sports and Physical Activity, which will legalize sports betting, Zing reports.

According to the updated law, sports betting is defined as a form of entertainment activity that can yield rewards, in which participants make predictions about sporting event outcomes. The agency providing the betting services must be authorized by the government in order to make the betting legal. Furthermore, the activities should be put under close supervision of governmental offices and authorities.

The bill also mentions some additional guidelines to follow which include being transparent, objective, honest, and respectful of the rights of the participants involved in the bet. The currency used in sports gambling will be Vietnamese Dong. The list of which sports activities are authorized for betting will be decided by the government later. 

The newly updated bill was approved by 457 deputies — which makes up for 93.84% of the total number — with only one "no" vote. Two deputies abstained their votes. The new law will go into effect beginning July 1 this year.

Early last year, the government started a pilot program which allowed betting for international football matches, horse racing and greyhound racing.

[Photo via Pixnio]

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