Vietnam finance ministry suggests simpler betting rules

By Nguyen Ha   August 18, 2018 | 07:31 am GMT+7
Vietnam finance ministry suggests simpler betting rules
Vietnam last year approved a bill legalizing sports betting. Photo by Reuters

The Ministry of Finance has proposed the removal of some criteria for investing in horse and dog races.

The ministry asked the government Thursday to consider removing a regulation that requires operators of a bookmaking business to have a minimum capital of VND1 trillion ($43.2 million) to invest in betting on horse races and VND300 billion ($12.95 million) for betting on dog races.

It also proposed the removal of other rules regarding the precision and upgradability of technical equipment in a racecourse.

The suggested removals are part of the ministry’s plan to reduce over 51 percent of business conditions it manages.

Vietnam last year approved a bill legalizing sports betting, and in June, the government promulgated a decree regulating the sports-betting business.

Opening this door of opportunity has drawn special interest from foreign investors coming into the country to build racehorses.

 
 
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