VCCI Proposes 10x Increase in International Football Betting Limit to 100 Million VND/Day, Foreign Ownership Cap Raised to 50%

The Vietnam Chamber of Commerce and Industry (VCCI) has submitted a comprehensive feedback document to the Ministry of Finance regarding the draft decree replacing Decree No. 06/2017/NĐ-CP, which governs betting on international football, horse racing, and dog racing. VCCI’s submission highlights critical recommendations aimed at enhancing competitiveness and investment appeal in this sector.

Regarding betting limits, VCCI acknowledges the draft’s positive step in raising the maximum daily bet per player from VND 1 million (under Decree 06) to VND 10 million. However, feedback from businesses and experts suggests this cap remains “too low compared to market realities.”

VCCI’s analysis reveals that illegal betting platforms operating in Vietnam impose no betting limits, driving players toward unauthorized platforms. This trend not only results in state budget losses but also weakens regulatory effectiveness, as legitimate businesses struggle to attract high-spending customers—a key revenue source in developed markets.

In response, businesses propose raising the maximum daily bet to VND 100 million per person. Alternatively, they suggest allowing VND 10 million per day for each betting product, rather than a cumulative daily limit.

Another significant recommendation addresses the 49% foreign ownership cap in the draft. VCCI argues this limit “falls short of incentivizing foreign investors,” given the sector’s high investment requirements, need for advanced technology, and international management expertise.

VCCI notes, “The difference between 49% and 50% is minor numerically but significant in terms of control and investor psychology.” Thus, it advocates raising the foreign ownership cap to 50%, ensuring balanced control while boosting investment appeal in this emerging sector.

To enhance competitiveness, VCCI also proposes “expanding advertising content” and “permitting controlled promotional activities,” currently restricted or banned in the draft. Without these tools, legal businesses are at a disadvantage against illegal platforms aggressively marketing online.

Additionally, VCCI recommends reducing the minimum budget contribution (beyond taxes) to 5% of gross gaming revenue (GGR) during the pilot phase, down from the draft’s 10%. This adjustment addresses the “excessive” total financial obligations, currently exceeding 40% of GGR (including 30% special consumption tax), particularly during the technology investment and operational startup phase.

These VCCI recommendations come as the Ministry of Finance’s draft limits pilot licensing to a single international football betting operator for a 5-year period. Applicants must meet criteria such as a minimum charter capital of VND 1 trillion and adhere to the 49% foreign ownership cap. Estimates suggest Vietnam’s betting market (formal and informal) holds potential equivalent to 3-5% of GDP.