Administrative penalties on betting business

Question: What are regulations on betting limits, pay-out and percentage, and administrative penalties on betting business operations?

Answer:

Betting limits

Decree 06 regulates that the minimal betting limit for each instance of betting is VND 10,000; the maximum per day, per player to bet at a corporate betting organization is VND 1,000,000 per bet type.

Pay-out and percentage

The pay-out can be fixed or variable depending on revenue or the two methods combined. With respect to the fixed payment method, the pay-out percentage depends on the betting method, the pay-out percentage depends on the betting rate, provided that the proposed payment percentage is at least 65% of the ticket sale revenue of each betting type. With regard to a revenue varied payment method, the proposed pay-out percentage is at least 65% of the ticket sale revenue of each betting type.

Administrative penalties on betting business operations

Organizations and individuals related to a betting business operation, who commit any administrative violation, who commit any administrative violation, will be subject to the following penalty forms; a warning, fine, additional penalties and remedial measures depending on the nature and severity of violation. The maximum pecuniary penalty is VND 100 million applied to individual violators and VND 200 million  applied to institutional violators./.