July 06, 2020 18:06

Advertisement Contact us RSS Vietnamese

Consider "loosening" international football betting conditions

17:45 | 25/06/2020

VCN -The Ministry of Finance is seeking comments on the draft Decree amending and supplementing a number of articles of Decree No. 06/2017 / ND-CP on the business of betting on horse racing, dog racing and international football.

consider loosening international football betting conditions New regulations on conditions for recognition of bonded warehouses
consider loosening international football betting conditions Ministry of Finance timely solves petition on administrative regulation, avoiding the creation of sensational topic in society
consider loosening international football betting conditions Ministry of Finance asserted not granting business license for international football betting
consider loosening international football betting conditions
Illustration. Source: internet.


Many new points are more suitable

According to this draft, the bet limit is still kept at a minimum of VND10,000 per time and a maximum of VND1 million, but the Prime Minister will decide the adjustment of the minimum and minimum bets, instead of the Government as before.

The draft is developed by the Ministry of Finance, in collaboration with the Ministry of Culture, Sports and Tourism, the Ministry of Planning and Investment, the Ministry of Justice and the Ministry of Public Security.

The Ministry of Finance also proposes the selection of matches and tournaments as the basis for international soccer betting, according to which these matches must be international football matches and tournaments organized by the International Football Federation (FIFA) or the football federations that are members of FIFA. These tournaments are no longer dependent on the Ministry of Culture, Sports and Tourism announcing the selection list as a basis for betting .

The time to start accepting international soccer bets since the event organizers announce the schedule and venue. The end of the bet must be completed before the event is completed.

In addition, under the new proposal, the Government allows an enterprise to be allowed to pilot international football betting businesses. The time for piloting the international soccer betting business is five years from the date the enterprise is granted the Business Qualified Certificate.

After the pilot period, the Government will summarize and evaluate to decide whether to continue to allow the pilot of international football betting business or to terminate it.

Enterprises conducting international soccer betting business must meet conditions such as the minimum charter capital of VND1,000 billion and appropriate investment and business plans.

A new point proposed by the Ministry of Finance is that players open accounts at credit institutions, payment intermediaries and telecommunication enterprises. In order to create favorable conditions for the players, the Ministry of Finance proposes to pay bets via prepaid phone cards and electronic wallets instead of paying via bank accounts as currently prescribed.

The Ministry of Finance explained that, along with the development of technology and electronic payment facilities, to create favorable conditions for players to place bets via telephone, the expansion of links payment is required.

Overcoming inadequacies

In fact, Decree 06 allows piloting international soccer betting, but only international football matches and tournaments announced and approved by FIFA will be selected as the basis for betting business in Vietnam.

The Ministry of Culture, Sports and Tourism issued a list of nine matches and 15 tournaments allowed to bet in Vietnam such as the world cup of men’s and women’s football, the World Cup of U17 world championships, U20 world championships, world club championships, friendly matches between two national teams.

The whole system of football championships of countries, including the European championships such as the Premier League, the German national championship (Bundesliga), the Spanish championship (La Liga) and the Italian championship (Serie A) are tournaments that take place all year round, attracting the most interested people who are not on the list of licensed betting businesses.

This inadequacy has been recognized by policy makers. In fact, FIFA only announced football tournaments organized by FIFA and did not approve the list of international football matches and tournaments. These tournaments do not take place regularly (held every 2-4 years), the time for a short tournament (usually 10-30 days / tournament). Every year, FIFA announces four to eight international soccer leagues organized by FIFA at all levels of national and club teams, men's and women's football leagues, and youth soccer leagues.

Therefore, the frequency of business organizations betting is low, while large investment capital (minimum charter capital of VND1,000 billion); it is difficult to recover investment capital in the pilot period of five years. Therefore, the Ministry of Finance said, so far, after three years of promulgation, Decree No. 06 has yet to deploy to select any enterprise.

In order to overcome this inadequacy, in the revision and supplementation of Decree 06, the Ministry of Finance shall submit to the Government regulations on the list of international football matches and tournaments in the direction of expanding the list of matches, tournaments and matches, tournaments of a regular nature, with high publicity and transparency, which are watched by a large number of fans organized by FIFA and member football federations.

 

By Hong Van/Bui Diep