VietNamNet Bridge - After many failures with racecourse projects, Hanoi is again considering developing a formula 1 race course and allowing betting in order to increase city revenue and put the business under control. Sources said that at a working session with Deputy Prime Minister Truong Hoa Binh recently, Hanoi’s leaders asked the government to issue regulations on the business conditions for 16 business fields mentioned in Appendix 4 of the Enterprise Law. The leaders said the city has called for investment into the F1 race course project in the city. One foreign group has shown its interest in the project. “You may see that lottery is an important source of revenue for many Mekong Delta provinces. I know a province which has GDP value of VND1.3 trillion, and VND980 billion from lottery,” he said. “So, it would better to allow a horse racetrack and betting and put the activities under control, rather than prohibiting the business and failing to collect … [Read more...] about Will Hanoi set up a horse racetrack and allow betting?
Horse racing commentator
Govt comments on draft betting rules Lan Nhi HANOI – The Government Office has announced Deputy Prime Minister Vuong Dinh Hue’s conclusion on a draft decree on betting on horse racing, dog racing and international soccer, which has been delayed for years. The draft went before the National Assembly (NA) Standing Committee a long time ago but has yet to be adopted as many issues remain to be improved. According to the announcement, the Ministry of Finance and the Ministry of Culture, Sports and Tourism are told to stick to the contents of the draft presented to the NA Standing Committee. No betting on international horse and dog races and no images of these races would be allowed while international soccer betting would be approved on a pilot basis for a period of five years. Points of sales must be no less than 500 meters from schools and public parks for children. Betting firms cannot decide when to start and end a bet. Those firms wanting to distribute tickets via … [Read more...] about Govt comments on draft betting rules
Inspectors from the Ministry of Public Security on Wednesday arrested seven members of an online gambling syndicate based overseas and handling bets worth tens of millions of dollars. Speaking to Thanh Nien, Colonel Ho Sy Tien, chief of the ministry's social crimes investigation department, or C45, said two were apprehended in Hanoi, while the rest were taken into custody in Ho Chi Minh City. Another person was also summoned for questioning in the central resort town of Nha Trang that same day, he said. Initial information was that those arrested were involved in the operation of a gambling website named M88, which used a server based overseas. Inspectors said in order to place bets on the website, gamblers were asked to create an online account and transfer money from personal bank accounts to those of the administrator. The funds, once transferred, allowed gamblers to earn points and play the online games. A report in Tuoi Tre said gambling services offered … [Read more...] about Vietnam police bust massive online gambling ring
Vietnamese police announced on February 6 that a bank's senior member is among those being investigated in connection to the massive overseas-based online gambling ring busted last month. Nguyen Le Sang, 36, a former deputy director of communication and marketing at an undisclosed bank, was allegedly involved in organizing the gambling ring. Ten other people from Hanoi, Ho Chi Minh City and the central resort town of Nha Trang had also been placed under investigation for either gambling or gambling organization charges, Tien Phong reported. Police seized a seven-seat van along with VND565 million (US$27,150) in cash, eight laptops, four modems, 21 cell phones and 32 ATM cards. A source from the Ministry of Public Security said they discovered the ring in 2011, and that it has been operating online at the Philippine website www.m88.com since 2010, offering services such as card games, and betting on soccer and horse racing held in countries including England, Italy and … [Read more...] about Vietnam bank executive probed in multimillion-dollar gambling ring