Vietnam Moves to Raise Betting Limits for Football and Horse Racing Amid Illegal Market Concerns

Vietnam Chamber of Commerce and Industry (VCCI) has submitted a proposal to the Ministry of Finance (Vietnam) calling for a substantial increase in daily betting limits for international football, horse and greyhound racing in order to better challenge the country’s growing illegal gambling sector.

According to the proposal, published on 22 October 2025, the current cap of VND 1 million (~US$38) per betting category would rise to VND 10 million (~US$380) per player per day under the draft decree. But the VCCI argues that even this increase is still too low, and instead recommends a limit of VND 100 million (~US$3,800) per person per day or at least VND 10 million per product category.

The business chamber says that licensed operators struggle to compete with unregulated platforms, which currently face no wagering limits and draw high-stakes bettors away, draining state revenues and undermining legal oversight. The VCCI also proposed reducing the mandatory contribution from operators to the central budget from 10% of gross gaming revenue (GGR) to 5% during the pilot phase, in addition to maintaining existing tax rates. 

Under the draft law, legal bettors would be required to:

• open a registered account with a licensed operator, linked to verified payment systems;
• be aged 21 or older and have full civil capacity;
• place wagers only on matches and tournaments sanctioned by FIFA or its member associations, excluding domestic Vietnam Football Federation events and football eSports.
  
  

For horse and greyhound racing the proposal mirrors the football regime, allowing higher daily caps and aiming to formalise long-time illegal sectors observed in Vietnam. The VCCI also flagged that the decree’s pilot period of five years should start not at licence issuance but upon actual operational launch, giving businesses time to build infrastructure properly. 

Regulators say the goal of the reform is to create a legal, sustainable betting market that can both attract investment and resist illicit competition. At the same time, social concerns remain: critics point to the need for responsible gambling safeguards, transparency, and enforcement to keep expanded limits from increasing harm.

Vietnam’s move thus reflects the challenge many emerging markets face: balancing growth and regulation in a sector where unlicensed operators thrive due to overly restrictive rules on the regulated channel.