Việt Nam

End "black" cash flows with betting legal framework

Posted on by Admin

01-10-2020 |  

All legal betting activities each year only bring the budget of VND 1,900 billion, while the amount of money transferred through a destroyed betting line has reached VND 64,000 billion.

In May 2019, public opinion was stunned by sales from a branch of the betting line that was raided by Ha Tinh Police. Only 2 Super master level accounts (super agent accounts) organize football betting activities on the website: b8*.com has a daily rotation amount of up to VND 500.

According to the investigating agency, the estimated accumulation of the total transaction amount of these two accounts from Saint 10.2018 to May 2019 amounted to VND 3,000 billion.

A year later, the internet gambling line has just been raided by Hanoi police and has a much more terrible scale: The transaction amount is up to VND 64,000 billion.

3 provincial agents and VND 3,000 billion in transactions. 1 line: VND 64,000 billion. Money, lots of dizziness.

For comparison, it is probably also worth mentioning the figure of VND 1,900 billion / year – the amount received by the state budget from 61 points / licensed establishments nationwide (statistics of the Association of Foreign Investors). Between VND 1,900 billion of "nationwide" and VND 64,000 billion from just one line is a gap. That gap says the price of conservatives, when – for years – resolutely puts gambling and betting out of law.

In the 64,000 billion VND betting line, there is another number: Millions of accounts registered to participate in gambling. The number of millions, from just one line, shows that the need to bet, betting is real, regardless of whether we want to or not; regardless of if we admit it or not and regardless of if we manage it or not?

Therefore, when the draft Decree 06 was consulted by the Ministry of Finance with many "opening points": including allowing international football betting business, including considering opening regulations on paying bets via e-wallets, prepaid phones … obviously, it is to look directly at the truth, which is progress versus the "un manageable" mindset.

Many trillions of DONG, many billions of DOLLARs from an industry that the world considers a "smokeless industry" is flowing outside the underground economic sector, not only causing loss of state budget but also creating a lot of social systems. It is time to end the "bleeding", ending these "black money" flows by setting legal frameworks for management.

By Labour

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