As technology and e-payments flourish, payment methods are diversifying – a trend which should be accommodated in betting as well, necessary, according to the Ministry of Finance that is responsible for the draft amendment.
A highlight adjustment was made to Article 17.2.dd, where the registered account could be one at a non-cash payment service provider or an agent, in addition to a lawfully established and operated credit organisation in Vietnam.
Thus, under the draft, players can select bank account, e-wallet, and pre-paid mobile cards to place bets.
According to Article 17.1 of Decree No.06/2017/ND-CP, any bettor wishing to place bets via telephone (landline or mobile phone) shall have a betting account registered with the bet-organizing enterprise. Those registering an account will need to submit ID or passport number (applicable for foreigners), identify the place for placing bets, and an account number (Article 17.2).
In related news, in late May news surfaced that a company had become the first business to be licensed by the government to operate football betting activities. The MoF immediately issued a press release that asserted that no companies have been licensed to run betting business as of yet.
As of now, all betting activities on the internet remain illegal.
Vietnam Investment Review