Local Gambling Trail in Vietnam to Commence from December

VietnamVietnam is eagerly waiting for the trail to start from December 1, 2017, that would allow the local populace to gamble in casinos.

One Circular 102/2017/TT-BTC was issued by the Finance Ministry of Vietnam that tells more about the Decree 03/2017/ND-CP of government that has become an official government policy on 15th of March 2017. The circular states that the plan would come into effect from December 1, 2017.

Vietnam for the past few years has been looking forward to launching a 3-year pilot program that will provide relaxation to existing locals’ prohibition to gamble in the casinos.

The current circular includes all the prerequisites suggested under which the residents can become eligible to take part in the program and able to gain access to the casinos without any problems.

All the local gamblers would now have to produce income proof that should indicate a minimum of $440 or VND 10m as overall earnings. According to the previous reports, all the local people would have to pay VND 1m or US$10 as daily casino entry fee. Alternatively, they can opt for a monthly pass by paying a price of VND 25m or US$ 100. However, these figures are not mentioned by the recent circular issued by the Ministry.

For proper monitoring of the activity of the locals, all the casinos would have to open new books or might have to issue electronic cards who desire to gamble at their choice of venue. All the casinos would have to record the entries of residents as well their exits at the properties for a minimum time span of 5 years.

The circular issued by Ministry does not clarify which casinos in Vietnam would be a part of this pilot program. Earlier, only two casinos were suggested by the government for the participation. The first one is located in Phu Quoc Island and the second one is situated in Quang Ninh Province.

The venues mentioned above are not finalised yet and currently under the process of construction. They would not be ready for the pilot program that starts from December 1.

The government of Vietnam has omitted any references to having imposed a limit on some casinos participating in the pilot program. Not much can be inferred from the latest circular, and the cloud of doubt remains which casinos would be a part of new project.

The Finance Ministry has issued another circular related to the authorisation of 5 years betting trial on international football matches, greyhound races, and horse racing. These plans were in the pipeline for quite some time, and all of them would come into effect from December 1. The doubts remain on the details of sports betting in Vietnam, and it is because the government wants to restrict the daily wagers to $44. This would not have any adverse effect on the flourishing illegal sports betting business in the country.

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Local Gambling Trail in Vietnam to Commence from December
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Local Gambling Trail in Vietnam to Commence from December
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Vietnam is eagerly waiting for the trail to start from December 1, 2017, that would allow the local populace to gamble in casinos.
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