Vietnam’s Legal Online Gambling Situation

Online Gambling

So how regulated is the gambling industry in Vietnam? The vast Vietnamese gambling market’s sole legal betting alternatives are lotteries, greyhound racing, and horse racing. These are all monopolies that are subject to strict regulation. Government monitoring is provided while casinos are privately run. Despite recent conversations about allowing sports betting in Vietnam, internet gaming is still illegal and unregulated, just like it is in Jordan. There are legal and illegal betting options in Vietnam. Lotteries, horse racing, and greyhound racing are all currently permitted. Casino gambling is permitted for those with foreign passports, but it is currently illegal for citizens. This information can also be found in the casino reviews at hl88vina.

Vietnamese nationals will soon be able to join casinos as long as they are at least 21 and can provide proof of a specific amount of income, according to new legislation that seems to be in the works.

Although it is now unlawful to bet on sports or online, it is anticipated that this will change in the near future. Currently, gambling winnings are subject to a 10% tax on amounts over VND 10 million (about $450 USD). If they are not withheld at the source, these winnings must be declared on an annual income tax return. A new tax system is being developed by the government, but it hasn’t yet been put into place.

The Vietnamese dong is recognized as legal tender across the nation. There aren’t many international gaming websites that accept the dong as a currency. Vietnamese online gamblers have a variety of options when seeking for simple deposit and withdrawal methods. The most prevalent and commonly accepted payment method is major credit cards, while eWallets like EntroPay, Neteller, and Skrill are also often used. Wire transfers and bank accounts operate as well. You are suggested to consult your favorite online gaming platform.