Gambling in Vietnam has a complicated status. Generally speaking, it is illegal, and anyone found gambling without authorization faces 5 to 10 years in prison. Any non-authorized parties found gambling, no matter whether they win or lose, can get a fine of up to VND 50 million.
An operator which allows illegal gambling can receive a huge fine that ranges from VND 20 million to VND 100 million. Also, there are no regulations or official documents stating that online gambling is legal in Vietnam, which makes it a gray area. You might be able to play online with a VPN, but you won’t have any protection from your gambling activities and whether this is a criminal offense is not entirely clear.
However, there are some casinos in Vietnam, which are mainly in hotels. In order to gamble in casinos and participate in other gambling activities, you must either be:
Yes, cryptocurrencies are available. In fact, Vietnam ranks as one of the countries with the highest rates of cryptocurrency adoption in the world. One of the reasons for this is that there are no crypto taxes in Vietnam.
Since the government doesn’t recognize cryptocurrencies as legal tender, banks and other financial institutions aren’t allowed to work with them. However, there’s no prohibition for citizens from holding cryptocurrencies.
Another reason for the explosion of cryptocurrency owners in Vietnam is that many people don’t have a bank account. In fact, according to some reports, Vietnam is the second most unbanked nation in the world, with more than 69% of the people not accessing any banking services.
There are many Vietnamese who live abroad and therefore help out their families back in Vietnam financially. For them, sending money back to their country involves high fees. This is not the case with cryptocurrencies, which is yet another reason why cryptos are so prevalent in Vietnam.
Finally, Vietnam ranks high among nations with play-to-earn players. This means playing certain video games to earn money, especially in the form of cryptocurrencies. They are the 6th country in the world with P2E gamers.
Gambling has been marginalized in Vietnam for centuries. In fact, the only allowed gambling proposal since ancient times has been a form of lottery game imported from China called ‘huahui.’ This game was mixed with local customs and previous games and formed a type of lottery called ‘36 animals’, where bets were made on mythological creatures.
Any other kind of gambling was illegal, and the government actively combated it. However, Vietnam slowly opened the doors to gambling. Local games became legal in 2017, and casinos are found in certain hotels. The biggest hotel which has a casino is The Grand Ho Tram Strip, which was founded in 2013.
There are currently a lot of investments going on in Vietnam related to gambling and casinos. There is a project to make a sizable tourist area in central Vietnam where some casinos are set to open, including the biggest one in the country yet.
There are also other casino projects in several parts of Vietnam with the purpose of allowing locals to play. This is part of a government pilot project to reconsider allowing a more extensive base of locals to participate in gambling activities with lesser restrictions.
With all that being said, it is still rather difficult for locals to gamble in Vietnam, at least in physical casinos. However, many indulge in online casinos to circumvent the many restrictions. Since there are no regulations about this, it’s an activity that has its own risks.
For example, there’s no telling what the authorities can or will do if they catch anyone playing online casino games. There’s also no protection against scams.
However, there is a bill passed in 2018 that allows sports betting. Interested people must be 21 years old and need to comply with a maximum amount of betting of VND 1 million per day.
With the general gambling situation, many Vietnamese players turn to online casinos, especially cryptocurrency casinos, to play their favourite games. There are a lot of different games that Vietnamese players enjoy.
The most important category is slots. These are among the ones that Vietnamese players enjoy the most:
Some of these slots are Megaways games, meaning they generally have hundreds of thousands of paylines. Also, some casino slots are jackpot games with prizes that can go as high as 24 billion VND or more.
Besides this, many players enjoy popular live casino games such as Lightning Roulette and other table games including baccarat, poker, blackjack, and more. Video poker is also popular, as are lottery games, given the country’s history with the lottery.
The most popular promotions are the welcome bonuses. These entice players to join the casino and they tend to be rather generous. For example, you can get a 100% match bonus when making your first deposit. This means you deposit 1 ETH, you get 1 ETH from the casino.
Another popular one is the no deposit bonus, where you get money just for registering, no deposit necessary. You’ll need to play a certain amount of times before being able to retrieve any winnings.
That’s not all. Another preferred bonus for Vietnam is the free spins bonus, which lets you play for free in selected slots but with real winnings, which are yours to keep.