Vietnam Examines Regulation

The Vietnamese government is reportedly chewing on the idea of legalizing additional forms of gambling in order to regulate the activity and bring in more revenue.

The Vietnamese News Agency (VNA) reported on Monday that the ministries of Finance and Planning and Investment are in the process of drafting legislation to submit to the government.

Only since 2003 has the government allowed any gambling other than the state-run lottery service to be played in Vietnam. Certain four- or five-star hotels in the country are designated as legal electronic gambling sites, but only accessible to foreign passport holders.

According to the report, the proposed regulations would ensure the responsible operation of gambling services providers, prevent potential crimes in association with gambling activities, and safeguard the legitimate interest of gamblers and bettors.

Currently in Vietnam, over 200 people offer illegal gambling services based on daily lottery results.

Legalized and regulated gambling could mean big bucks for the Vietnamese economy, as the state-run lottery service accounts for only 2.4 percent of Vietnam's gross domestic product, according to the report.