The Reason for the Undeveloped Betting on Football and Horse Racing
On the morning of March 18, Minister of Finance Ho Duc Phoc was questioned by many delegates about the lucrative business of gambling with rewards and casinos. Delegate Nguyen Thi Hue (Bac Kan province) quoted a report from the Ministry of Finance, stating that recently, many places have taken advantage of the business of electronic games with rewards and betting with rewards to organize illegal gambling and betting, causing difficulties for the management work of state agencies.
The delegate suggested that Minister Ho Duc Phoc provide information on how the legal framework for the business of electronic games with rewards and betting with rewards has changed recently. Why is the Ministry of Finance still not granting licenses to any betting businesses? At the same time, the delegate requested the Minister to provide solutions for effective management in this field?
Delegate Nguyen Thi Hue (Bac Kan province)
In response to questions about betting and electronic games, Minister Ho Duc Phoc said that currently, there are 93 electronic games placed in 5-star hotels in our country. However, the conditions for placing them there are that the business must have capital of VND 500 billion or more, must have an electronic device system, and a professional team to monitor.
“These games are only applicable to foreigners. This system has supported 5-star hotels, helping them achieve business results as well as solve labor issues,” he said.
The Minister stated that there are various forms of betting on football, horse racing, and dog racing, but they have not been implemented yet. When implementing the form of betting on football, the Ministry has started building regulations to organize bidding, but encountered difficulties with the Bidding Law.
Recently, when amending the Bidding Law, provisions on this issue have been introduced, and further improvement of the legal corridor is needed to implement football betting. For horse racing and dog racing, investors need to build standardized race stables with equipment and professional labor to ensure smooth implementation.
“This is a new form, and the Ministry is actively researching and implementing it while preventing risks in this form,” Minister Phoc affirmed.
For these forms, when granting investment licenses, the Ministry of Planning and Investment will submit them to the Government for the Prime Minister to issue an investment policy. However, when completing the facilities to meet the requirements for granting betting licenses, the Ministry of Finance is responsible. The Minister said that he will actively resolve this issue.
Minister of Finance Ho Duc Phoc
Casinos contribute VND 9,000 billion to the budget
In the same question session, Delegate Nguyen Duy Minh (Da Nang) asked for information on how many casino businesses are operating nationwide and the current business situation of these enterprises. Do casino businesses contribute significantly to the local economy, particularly in attracting tourists to stay and consume locally?
“Currently, only the Phu Quoc casino is being piloted for Vietnamese people to play casino games. How does the Minister evaluate the results of this pilot and whether the pilot will be expanded for Vietnamese people to play casino games in the future?” the delegate questioned.
In response to this content, Minister of Finance Ho Duc Phoc provided information that currently, there are a total of 9 casinos nationwide. Among them, there are 3 large casinos in Phu Quoc, Ho Tram, and Nam Hoi An, and the remaining 6 are small casinos in Haiphong, Quang Ninh, etc.
According to a decision approved by the Government, 2 casinos are being constructed in Khanh Hoa and Thua Thien-Hue, and one casino is applying for approval in Van Don.
Minister Ho Duc Phoc said that from 2017 to 2023, casinos have contributed about VND 9,000 billion to the budget and provided jobs for nearly 10,000 workers.
“We have only allowed Vietnamese people to play at the Phu Quoc casino, and we are proposing it for Van Don as well. However, in Phu Quoc, in the first few years, 69% of Vietnamese people played there, but in 2023, only 39% of Vietnamese people played there. This means that the number of Vietnamese people is decreasing, while the number of foreigners is increasing,” Mr. Phoc said.
