In Vietnam, is it illegal to close football bets 2 minutes before the event ends?
In Vietnam, is it illegal to close football bets 2 minutes before the event ends? What are the penalties for violations of time of bet taking in Vietnam?
Hello Lawnet. Recently, I had bet on a football match at S Betting Company. After that, I watched the match with my friend. When there were only 2 minutes left until the end of the match, almost everyone knew the result of the match in their hands. Then, my friend bought a bet ticket from S Betting Company. And, he won it. Is it illegal to close football bets 2 minutes before the event ends? Thanks for your advice.
In Vietnam, is it illegal to close football bets 2 minutes before the event ends?
Pursuant to Clause 2, Article 15 of the Decree 06/2017/NĐ-CP stipulating time of beginning and ending of bet taking in Vietnam as follows:
a) Regarding betting on horse and/or greyhound racing: bets on each race must be taken within 12 hours before the race starts;
b) Regarding betting on international football: bets shall be taken within the period since the event organizer announces the time and location of the event until 05 minute before the event ends.
As regulations above, the act of closing football bets only 2 minutes before the event ends from S Betting Company is a violation against the Law.
What are the penalties for violations of time of bet taking in Vietnam?
Pursuant to Clause 1, Article 17 of the Decree 137/2021/NĐ-CP stipulating violations regarding frequency of bets and time of bet acceptance in Vietnam as follows:
1. A fine ranging from 90.000.000 VND to 100.000.000 VND is imposed on violating time of bet acceptance.
2. A fine ranging from 180.000.000 VND to 200.000.000 VND is imposed on violating frequency of bets.
3. Additional penalties:
Suspension of Certificate of eligibility for betting operation for 6 to 12 months for violations under Clause 2 of this Article.
4. Remedial measures:
Mandated submission of illegal revenues generated by the violations under Clause 1 and Clause 2 of this Article.
As regulations above, violations regarding frequency of bets and time of bet acceptance shall be fined from 90.000.000 VND to 100.000.000 VND.
Best regards!
