International football betting business projects will have to organize bidding to select investors, according to a Decree recently issued by the Government.
Decree 23/2024 of the Government stipulates cases where bidding must be organized to select investors according to the Law on Bidding.
According to this Decree, investors must participate in bidding when they want to do business in betting on international football in Vietnam. At the same time, investment projects in horse racing and dog racing, including horse racing and dog racing betting business, must also bid when there are 2 or more investors interested.
This regulation is also stated in Decree 06 on betting business on dog racing, horse racing and international football issued since 2017. At that time, the State allowed a pilot enterprise to conduct international football betting business through bidding.
To date, no business has been licensed to pilot this type of business. Last year, a representative of a computerized lottery business shared that in its development strategy until 2025, this business plans to implement international football betting business in accordance with the law.
At the end of 2021, the Ministry of Finance sought opinions to amend Decree 06 with some new points such as allowing betting on European national football championships, players can buy betting tickets on the Internet...
At that time, the Ministry of Finance also submitted to the Government to amend two conditions for investors to participate in the bidding. First, investors must have a minimum investment capital of VND 1,000 billion, the ownership ratio of all foreign investors must not exceed 50%. In addition, enterprises must commit to contributing to the state budget in cash (excluding taxes) at least 5% of the revenue from selling betting tickets.
However, this new Decree has not yet been issued. This is also a problem that prevents the management agency from selecting pilot enterprises.
Every year, the police continuously discover and prosecute illegal football betting lines worth up to thousands of billions of VND for many matches of the world football tournament. Advertisements for betting websites with similar names such as FB88, Fi88, Bet88... are widely advertised on the internet.
The turnover of the illegal football betting market in Vietnam is estimated to be in the tens of billions of USD, but the State cannot control the cash flow or collect taxes.
Previously, many foreign investors were interested in international football betting business in Vietnam. In the world, many countries have allowed this type.
Analysts say that to attract investors in the betting industry, the State needs to have a strict and appropriate legal corridor. At that time, people will have a need for more legal forms of entertainment instead of illegal ones. In return, the State budget will have more tax and fee revenue from betting business activities.
Phuong Dung
Source link
Comment (0)