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Why Football Betting In Vietnam Should Be Legalized

Football betting in Vietnam is illegal. However, the government is in the process of legalizing international football betting. It is very odd that the government has over the years refused to take advantage of the huge tax revenue that could be generated by allowing and taxing football betting. Consequently, millions of dollars are lost through illegal gambling or through use of neighboring countries to bet on football.

Prohibiting football betting is economically irrational

Studies undertaken by major betting companies in Vietnam suggest that the government losses a lot of money every year to gambling syndicates. The government has been so far unable to stop illegal football gambling. It is preposterous to continue the ban when there is a thriving underground market that negates the aim of prohibiting gambling. The huge loss could be avoided by fast tracking the legalization process. It would allow the government to use the collected tax revenue to sport the development of local sports talents and infrastructure.

How people get around internet restriction

To ensure that the citizens do not engage in any form of ca cuoc bong da (football betting in vietnamese), the government has blocked intent sites dealing with football betting. To use a bookie, Google search other countries VNP, especially for Singapore, which is close and has very fast speed. Then buy the VNP and place their bet. The companies selling the VNP, helps the buyer to set it up, hence allowing access to blocked football betting sites. It is easy to override, the internet blockade, of Vietnam football betting websites. As such, the government should legalize football betting to stop the continued loss of betting tax revenue.

The way forward

Since Vietnamese love football and prediction of football matches is hobby, it should not be criminalized. The ministry of Finance officials believe that the continued ban of football betting does have negative economic implication. It only fuels underground betting market with no net gain for the government. Legalizing football betting in Vietnam will curb the illegal flow of currency from the country and provide the government with a new stream of revenue. It will also curb exploitation of the citizens by foreign betting companies who take advantage of the existing ban.  Football betting law should be amended without further delays.

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