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Vietnam May Finally Legalize Sports Betting

After almost 18 years of discussion, Vietnam’s Ministry of Finance is leading the effort to legalize sports betting.

According to Zing, a resolution to allow betting on horse and greyhound races as well as soccer matches will be submitted to the government before December 1. Under the proposal, select cities and provinces will be chosen for a five-year pilot run of the new regulation.

Unlike previous proposals, which would have allowed individuals from age 18 and up to gamble legally, the new decree is restricted to those above 21 years old, reports the news outlet. It is also expected that officials will limit an individual’s daily bets to VND1 million (US$44). In addition, bookies must be located at least 500 meters away from schools and public venues for children.

Businesses will be able start taking bets and selling tickets via phone as well, though it remains unclear whether online betting will also be legalized.

Meanwhile, Hanoi is waiting for the government to greenlight a US$500 million project to build a racetrack, golf course and entertainment complex.

[Photo via Zing]

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