Wednesday, February 28, 2007

A UK-based betting firm has pledged US$60 million to develop football
gambling as a legitimate industry in Viet Nam if the country makes the
practice legal.
The National Sports and Physical Culture Committee plans to submit a draft
proposal of the agreement with Ladbrokes to Prime Minister Nguyen Tan Dung
for initial approval in March, said Huynh Vinh Ai, vice chairman of the
committee. The proposal states bets would be limited to a maximum of
VND450,000 ($28) and only a certain number, as of yet undetermined, would be
permitted each month, said Nguyen Trong Hy, the committee's deputy chaiman.
Hy said the Vietnamese police force reported Viet Nam is missing out on
billions of US dollars each year by not legalising sports betting. Those
funds are being collected in places like Hong Kong and Macao instead, he
said.