Is it permissible to organize betting on horse racing 04 times a week in Vietnam?
Is it permissible to organize betting on horse racing 04 times a week in Vietnam? What are penalties for organizing too many horse racing bets in a week?
I establish a business on betting horse racing. Every day, many people come and bet at my place. Due to the fact that there are high demand from customers for betting and I want to earn more money, can I hold horse racing bets 04 - 05 times a week? If I secretly organize it, will I be fined when I'm discovered? Thank you.
Is it permissible to organize betting on horse racing 04 times a week in Vietnam?
Pursuant to Article 15 of the Decree 06/2017/NĐ-CP stipulating frequency of organization of betting and time of bet taking in Vietnam as follows:
1. The organization of betting on horse and/or greyhound racing shall be decided by the enterprise, provided that the maximum frequency does not exceed 03 days per week. Every horse or greyhound race serving the betting business must end before 11 p.m of the date of betting.
2. Time of beginning and ending of bet taking must satisfy the following requirements:
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.
Therefore, organizing betting on horse racing 04 times a week is a violation against the regulations on business on betting.
What are penalties for organizing too many horse racing bets in a week?
Pursuant to 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, organizing too many horse racing bets in a week shall be fined from 180.000.000 VND to 200.000.000 VND. Besides, suspension of Certificate of eligibility for betting operation for 6 to 12 months and mandated submission of illegal revenues shall also be imposed.
Best regards!
