Sports betting has always been known as one of the most popular betting sports. However, not everyone knows that this is a form of violation of our country’s laws and can be severely punished if not followed according to regulations. Let’s find out Football betting laws in Vietnam Latest right here.
See : New88sg
Soccer betting – The hottest form of betting of all time
Soccer betting is known as one of the most popular forms of online betting by many players. By betting money on a match, players can win a huge amount of money in just a moment or can lose all the money they bet if the prediction is incorrect.
This form of soccer betting is present at many bookmakers on the exchange today. Diverse bets with many attractive odds give players different experiences, opportunities and challenges. The payout rates at playgrounds are always very attractive, thereby attracting even more users.
To increase the winning rate when betting, players need to equip themselves with their own skills and experience. Every good bettor must have accurate knowledge and information about the teams that will participate in the competition.
Details of soccer betting laws in Vietnam in 2023
Soccer betting has always been a form of betting loved by everyone. To participate in the most convenient betting, players need to understand the current soccer betting laws in Vietnam. Specifically
Responsibility of the bookmaker
The bookmaker is the organization that organizes soccer betting online. Units will provide information about the match such as time, location and team name. Along with that are the bets corresponding to the odds for bettors to choose to put down money.
In case the match is canceled or postponed for more than 12 hours, the house will cancel bets. In other words, canceled matches will not appear in the bookmaker’s odds table. Of course, the house will be responsible for refunding bets to players who bet on those matches.
The bookmaker allows bettors to place bets until the 90th minute of the match. Betting time in extra time will be decided by the bookmaker. During the match, the house will be responsible for updating the match results until the official end.
Bookmakers who want to organize soccer betting need to comply with soccer betting laws in Vietnam. Specifically, the unit needs an operating license provided from reputable and competent organizations.
Conditions and obligations that players need to meet
According to soccer betting laws in Vietnam, players need to have a house account, through direct registration with a legal business unit. All people participating in soccer betting must be 18 years of age or older and this is also a condition for registering as a member of the bookies.
See : Xổ số New88
Bettors participating in soccer betting must be financially secure because when placing a bet, the money in their account will be directly deducted. If you win, you can completely withdraw money to your bank account after following the withdrawal procedures according to regulations.
Each bookmaker will have its own terms, conditions and policies, which all players need to comply with. To avoid unwanted problems, from the beginning you should carefully research the terms and policies at the house you plan to join.
Evaluate current soccer betting laws in Vietnam
Looking at soccer betting laws in Vietnam, we can see that there are many shortcomings. It is true that online soccer betting in Vietnam is still only in the pilot phase, and is still a long way from being widely played. However, this law still has many unreasonable points that need to be discussed such as:
- The law stipulates that you are not allowed to participate in live betting, online betting is actually just a circumvention of the law. Therefore, the actual rights of players in terms of law are not guaranteed at all.
- The law also limits the 27 football tournaments allowed to participate in betting. This number is really not too high, leaving players with few choices, not to mention that there are tournaments that are still closed in the middle of the season, so the number of awards becomes even more scarce.
- The maximum bet is only 1 million VND, which is quite modest. This makes ambitious bettors feel unsatisfied and feel like they are being “pinned down”.
- As online soccer betting, no one can guarantee that any address is reputable, and if they are scammed, the player will most likely suffer losses. Therefore, bettors need to carefully select and research the bookmakers they plan to join.
Penalties for illegal soccer betting in Vietnam
To prevent soccer betting, our country’s law has set strict penalties for this behavior. Specifically, the penalty frames applicable to this behavior are as follows:
Major penalty
According to regulations, the main penalties for illegal soccer betting in Vietnam are as follows:
Frame 1
The main penalty for this act according to frame 01 is as follows:
Fine from 20 – 100 million VND, non-custodial reform up to 3 years or imprisonment from 6 months – 3 years for illegal gambling in any form with money or in kind value:
- From 05 – under 50 million VND.
- Under 05 million VND but has been administratively sanctioned for this behavior or the act of organizing gambling.
Having been convicted of this crime or the crime of organizing gambling/gambling, the criminal record has not been erased but continues to violate it.
Frame 2
According to frame 2, imprisonment is from 03 to 07 years if committing a crime in one of the following cases:
- Has a professional nature.
- Money or objects used for gambling worth VND 50 million or more.
- Using the internet, computer network, telecommunications network or electronic means to commit a crime.
- Dangerous recidivism.
Additional penalties
Additional penalties for soccer betting crimes in Vietnam are as follows:
- Offenders can be fined from 10 to 50 million VND. If they bet on football from 5 to under 50 million VND or under 5 million but have been administratively fined or convicted of gambling-related behavior, they will be fined. sentenced to imprisonment for up to 03 years.
- In case of organized betting or betting amount of 50 million VND or more or online betting on online betting sites, etc., the violator can also be imprisoned up to 7 years.
How not to violate the law when betting on soccer?
In order to avoid being fined for violations when participating in soccer betting, players should choose reputable bookmakers with licenses and carefully study the regulations given by the bookmakers. There are a few things to note such as: number of participants, business license, etc. To identify reputable betting sites.
Besides, joining poor quality bookmakers can cause players to encounter many consequences. Specifically: being cheated of money, not being rewarded as promised, having personal information leaked,…
Epilogue
Above is some information about Football betting laws in Vietnam Currently. In order for your entertainment process to go as smoothly as possible, you need to clearly understand this knowledge and at the same time strictly comply with the playing regulations to avoid being punished for violations.
