Vietnam is preparing to tighten oversight of its regulated betting market by introducing mandatory full identity disclosure for bettors. However, it will keep daily betting limits unchanged. The proposals are included in a draft decree intended to replace Decree 06 from 2017. This decree governs betting on horse racing, dog racing, and international football, according to local media outlet Tuoi Tre News.
The draft has been developed by the Ministry of Finance. It follows extensive public and inter-agency consultations, with responses recently published as part of the regulatory review process.
Full Identity Verification to Become Mandatory
Under the draft, the Ministry of Justice has proposed requiring bettors to provide comprehensive personal information when opening legal betting accounts. The proposed data set includes full name, nationality, occupation, phone number, address, and place of residence. The justice ministry argued that this requirement is necessary to align betting regulations with Vietnam’s 2022 Law on Anti-Money Laundering.
In response, the Ministry of Finance accepted the recommendation and revised the draft accordingly. As a result, full identity verification would become a core condition for participating in regulated betting activities. The ministry stated that the measure strengthens transparency, improves oversight, and reduces money-laundering risks within the betting sector.
Finance Ministry Rejects Higher Betting Limits
However, the Ministry of Finance has taken a firmer stance on betting limits. It rejected a proposal from the Ministry of Science and Technology to significantly raise the maximum daily betting cap.
The proposal suggested allowing individuals to place bets of up to VND100 million ($3,800) per day. Alternatively, VND10 million ($380) per betting product could be allowed, instead of applying a single daily cap. Proponents argued that higher limits would help licensed operators compete with illegal betting platforms. They believed it would attract high-value customers, and the risks could be managed through identity verification and transaction monitoring.
Despite these arguments, the finance ministry disagreed. It emphasized that regulated betting is designed to meet recreational demand rather than promote high-stakes gambling. Citing Vietnam’s average annual income of approximately $5,000 per capita, the ministry maintained that a $380 daily cap better reflects local income realities. This cap helps prevent excessive betting that could disrupt public order and social stability. Consequently, the draft decree was submitted to the government with the existing limit unchanged.
Previous Proposal to Increase Football Betting Cap
The issue of betting limits has remained under discussion in recent months. In September, the Ministry of Finance proposed increasing the daily limit for legal international football betting to VND10 million ($380). This proposal represented a tenfold rise from the current VND1 million ($38) ceiling. It was justified by Vietnam’s rising per capita income and the growing maturity of the regulated betting market.
Expanded List of Eligible Football Competitions
The consultation process also addressed the scope of football competitions eligible for legal betting. Several ministries called for clearer and broader criteria. They noted that current rules restrict betting to FIFA-announced tournaments, which limits market attractiveness. As a result, only four to eight tournaments per year typically qualify. Each lasts between 10 and 30 days, affecting operators and investors’ interest.
In response, the revised draft expands eligibility to include major and widely followed tournaments organized by UEFA, AFC, CONMEBOL, and CONCACAF. It also allows betting on national leagues and cup competitions from countries ranked in FIFA’s Top 10 as of the previous December. This expansion aims to increase consumer interest while maintaining regulatory oversight.
Pilot Licensing Framework Remains Limited
For international football betting, the draft decree continues to allow a pilot program with a maximum of three licensed operators. The Ministry of Finance stated that football betting remains a sensitive activity with nationwide public order and money-laundering implications. Therefore, under the Law on Investment, the authority to select pilot operators remains with the prime minister.
