In Vietnam, is it permissible to borrow money from a bookmaker to bet?
In Vietnam, is it permissible to borrow money from a bookmaker to bet? In Vietnam, what are the fines imposed to bookmakers for lending bettors money to bet?
Hello Lawnet. On June 30th, I overheard the conversation between my dad and uncle L, a friend of him. Uncle L asked my dad to borrow some money for betting, but my dad refused. My dad told uncle L that he may borrow money from bookmakers to bet. I wonder if it is permissible to borrow money from a bookmaker to bet or not?
Thanks in advance.
In Vietnam, is it permissible to borrow money from a bookmaker to bet?
Pursuant to Article 4 of the Decree 06/2017/NĐ-CP stipulating prohibited acts in betting in Vietnam as follows:
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11. Lending money to gamblers, applicable to bet-organizing enterprises.
12. Permitting persons banned from placing bets prescribed in clause 2 Article 7 of this Decree to place bets under any form or reason.
13. Taking advantage of the betting business to take bets in contravention of this Decree.
14. Providing information about the betting ratios established by the bet-organizing enterprises without their permission or authority.
15. Taking advantage of the betting business to carry out the money-laundering.
16. Taking advantage of sales promotion to take bets illegally aiming to earn profits from collecting money from customers.
17. Causing public disorder at horse racing venue.
18. Other prohibited acts prescribed in relevant laws.
As regulations above, the act of borrowing money from a bookmaker to bet is a violation against the Law of Vietnam.
In Vietnam, what are the fines imposed to bookmakers for lending bettors money to bet?
Pursuant to Clause 2, 3 and 4, Article 12 of the Decree 137/2021/NĐ-CP stipulating violations regarding bettor management in Vietnam as follows:
2. A fine ranging from 160.000.000 VND to 180.000.000 VND is imposed on lending bettors money for placing bets.
3. Additional penalties:
a) Suspension of Certificate of eligibility for betting operation for 6 to 12 months for first-time violation under Clause 1 of this Article; 12 to 24 months for subsequent violation under Clause 1 of this Article;
b) 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 this Article.
As regulations above, the act of lending bettors money to bet in Vietnam shall be face administrative sanctioned from 160.000.000 VND to 180.000.000 VND. Besides, bookmakers shall also receive a suspension of Certificate of eligibility for betting operation for 6 to 12 months as additional penalties and submit all illegal revenues generated by the violations.
Best regards!
