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Vietnam Considers Online Casino Licensing

The Vietnamese government has recently stated that new recommendations for regulating online casino firms in Vietnam are due before the end of the year. The government has been considering the regulation of online casino sites for the past year and the Ministry of Post and Telematics in charge of preparing the recommendations has been asked to wrap up its research as soon as possible. Online casino gambling has become hugely popular in Vietnam over the last year and the government is concerned by reports suggesting compulsive and underage gambling are on the rise.

However, the Vietnamese government has refused to be influenced by China’s stance on online casino gambling and has admitted that gambling at online casino sites is a legitimate form of entertainment. Broadband internet, recently introduced to some parts of the country, has helped to make online casino gambling more accessible for thousands of people.

Currently 8 million Vietnamese – or ten percent of the country’s population – are thought to regularly use the internet. The Chinese government, however, has indicated that it has no plans to welcome the online casino industry into its country. The government has recently created a special legislation department dedicated to finding and prosecuting online casino operators that target Chinese casino players.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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