Everything seems to be taking a turn for the best for sports betting and gambling aficionados in Vietnam. Just a few days ago, Vietnam’s National Assembly passed on a new gambling bill, according to which sports betting is now legalized, albeit strict government oversight. The sports that will be covered by the new law are yet to be decided, but this will not take long, according to the officials. It should be also noted that sports betting will be denominated in Vietnamese dong, the Southeast Asian country’s local currency.
This was the expected outcome as the Vietnamese government realized that lots of benefits will occur for the country’s economy. Moreover that is the best way to strike at illegal betting for good. The latter is on the up, especially in times of huge football tournaments, like the World Cup. After all, last year another huge decision came from the government regarding gambling, since a pilot program was issued for betting on horse racing, dog racing and international football matches.
As far as the government’s official position is concerned, the announcement stated: «We must ensure transparency, objectivity and honesty, as well as ensure the rights and obligations of involved parties».