For many years, Vietnam’s horse race betting industry resembled a race without a rulebook.
Investors were attracted by the prospect of participating in one of Asia’s fastest-growing economies, yet they faced a fundamental challenge: horse race betting had been permitted through limited pilot projects, but there was no comprehensive legal framework governing licensing, operation, investor qualifications, betting products or regulatory supervision.
That is no longer the case.
The legal landscape changed fundamentally with the issuance of Decree No. 06/2017/ND-CP on the Business of Betting on Horse Racing, Greyhound Racing and International Football, which established Vietnam’s first comprehensive regulatory framework governing licensed betting activities. The sector has therefore moved beyond the question of legalization and entered a new phase focused on implementation, compliance and commercial viability.