Proposal to increase international football, horse racing and dog racing betting to 100 million VND/day

VCCI proposed to increase the betting level on horse racing, dog racing, and international football to 100 million VND/day, 10 times higher than the betting level that the Ministry of Finance consulted with relevant parties.

Horse racing at a racetrack in Lam Dong - Photo: LA

The Vietnam Federation of Commerce and Industry (VCCI) has just sent its comments on the draft decree replacing Decree 06/2017 of the Government on betting business on horse racing, dog racing and international football to the Ministry of Finance .

Raise the stakes to compete with underground betting

VCCI proposed to consider raising the maximum bet to 100 million VND/person/day or allowing businesses to apply a bet of 10 million VND/day for each betting product. This bet is 10 times higher than the proposal made by the Ministry of Finance in the draft decree replacing Decree 06/2017.

Raising the betting limit will create conditions for legal betting businesses to reach high-spending customers, while increasing competition with the underground betting market.

Previously, in the draft decree amending Decree 06/2017 on betting business on horse racing, dog racing and international football, which is seeking comments from ministries, branches and localities, the Ministry of Finance raised the betting level from the current 1 million VND/day to a maximum of 10 million VND/day.

However, many betting businesses believe that the proposal of the Ministry of Finance is still too low compared to the reality of the betting market, not creating conditions for legal betting businesses to operate effectively.

Recommendations for online betting advertising

Regarding advertising for horse racing, dog racing and international football betting, VCCI recommends expanding advertising content, allowing betting businesses to introduce information on how to participate, risk warnings, and instructions for responsible play.

Allow businesses to advertise betting business on online platforms such as social networks, search engines, mobile applications, etc., on the condition that businesses must control the age of visitors, attach responsibility warnings, and comply with registered advertising content.

Meanwhile, according to the draft decree on betting business drafted by the Ministry of Finance, betting businesses are prohibited from advertising outside their headquarters and websites, and advertising content is limited to only including name, address, logo, product name, business location and permitted players.

Betting businesses believe that the current draft decree regulations are too strict, especially in the context that digital media has become the main channel to reach customers.

In addition, VCCI also recommended that the Ministry of Finance supplement regulations allowing betting businesses to have controlled promotions with players. All promotional programs in betting businesses must be approved in advance by the Ministry of Finance.

Increase the capital contribution ratio of foreign investors in betting projects

Regarding the capital contribution of foreign investors to projects and businesses of betting on horse racing, dog racing and international football, the Ministry of Finance proposed to stipulate that the capital contribution ratio of foreign investors shall not exceed 49%, but VCCI proposed to amend the draft in the direction of stipulating that the capital contribution ratio of foreign investors to projects and businesses of betting is 50%.

According to VCCI, this capital contribution level will ensure the balance of power between domestic investors and foreign investors, increasing the attractiveness of projects.

In the comments recently sent to the Ministry of Finance, VCCI also made recommendations to reduce the budget contribution rate of betting businesses.

According to the draft decree on betting business, the budget contribution of betting business enterprises is 10% of the revenue from selling betting tickets after deducting the cost of paying prizes. In addition, enterprises must pay a special consumption tax of 30% and a value added tax of 10%.

VCCI proposed reducing the budget contribution of betting businesses to 5% of ticket sales revenue during the pilot phase. When businesses have a stable source of income, the State will increase the contribution rate according to the roadmap.

BAO NGOC

Source: https://tuoitre.vn/de-xuat-tang-muc-ca-cuoc-bong-da-quoc-te-dua-ngua-dua-cho-len-100-trieu-dong-ngay-20251021134228663.htm