Despite gambling holding a significant place in Vietnamese culture, the local government has almost banned all forms of gambling over the past decades. Due to the lack of legal options, Vietnamese players often visit overseas online gambling sites. The transaction volume on these sites is estimated to reach billions of dollars.
Vietnamese players spend $10 billion annually on black market sports betting alone.
The results of a pilot project by the Vietnamese government allow two casinos to admit local Vietnamese players for three years.
With the Vietnamese government implementing policies to legalize some forms of gambling, and the influx of overseas gambling websites and border casino players into the local market, the industry's prospects look promising and represent an enticing area to capitalize on.
Localization is Key to Attracting Vietnamese Players
Due to the competitive nature of the Vietnamese gambling market, international gambling companies are entering en masse. Establishing iGaming platforms designed for the local market is key to attracting players.
Vietnamese language—Although the English proficiency of Vietnamese people has improved, many players still find international iGaming websites inaccessible. iGaming websites that offer options to use the site in Vietnamese can position themselves as the preferred choice for local players.
Platforms that offer transactions in Vietnamese dong have the advantage of lowering the entry barrier for Vietnamese players. It eliminates the need for currency exchange and enhances user experience, increasing trust and convenience. Incorporating Vietnamese dong transactions is a strategic move to enhance the attractiveness and competitiveness of the Vietnamese gambling market.
Vietnamese Dong Currency – Incorporating traditional Vietnamese games into your platform can help you stand out from competitors and establish a solid connection with the local player community. Some popular Vietnamese games you might consider adding include Bầu Cua Tôm Cá (a traditional dice game), Tài Xỉu (a dice game known as Sic Bo), and Rồng Hổ (a card game similar to Baccarat).
Popular Games in the Vietnamese iGaming Market
In addition to offering localized games, providing top-tier classic online gambling games on your platform is also crucial. According to insights collected by Kzing, Vietnamese players show a strong preference for games that are not only easy to understand but also offer fast-paced and exciting gameplay. Among the many available options, slot machines have become the undisputed favorite among Vietnamese players.
Other popular products include:
Baccarat—Attracts both experienced players and newcomers
Roulette - Various betting options, providing an exciting gambling experience
Blackjack - A widely recognized card game, offering strategic gameplay
Poker—Variants such as Texas Hold'em and Omaha Poker attract competitive players
However, with the push of live streaming and social media platforms like Facebook, live games are becoming an increasingly popular trend. On these platforms, players can interact with real dealers in real-time, creating an authentic casino atmosphere and social interaction. This shift reflects people's desire for more immersive and interactive experiences.
To be successful, operators should embrace live games and integrate social media features to meet the ever-changing preferences of Vietnamese players.
Mobile is the Way Forward
In Vietnam, there are over 70 million mobile internet users, and the penetration of mobile devices is high. Therefore, offering mobile applications can make it more convenient for players to access and play games, and improve user retention. Additionally, the use of cryptocurrencies is also high in Vietnam, with about 18.6 million people holding some form of cryptocurrency, such as Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. E-wallets are a popular alternative to traditional bank accounts.
The most popular include Momo, Moca, ShopeePay (AirPay), ZaloPay, and Viettal Pay. For Vietnamese white-label solution providers, partnering with these payment channels is crucial.
Effective Marketing Strategies in the Vietnamese iGaming Market
Vietnamese iGaming companies use various marketing strategies, including SEO, Google, affiliates, Facebook, SMS, banners, and articles. Effective marketing campaigns are crucial for attracting and retaining players, and the Vietnamese market responds well to personalized advertising. White-label solution providers can offer Vietnamese customer service, E2 fraud and compliance, staff recruitment, and support for applications targeting the Vietnamese market (especially sports).
In Vietnam, social media plays a crucial role in people's daily lives, and integrating social media platforms into iGaming and sports betting applications can enhance user engagement and retention. White-label solution providers can integrate with popular platforms in Vietnam, such as Zalo, which has a large user base in the country. This integration can better connect with users and enhance the overall user experience.
Challenges Worth Overcoming
In summary, although the Vietnamese iGaming market is still developing and facing regulatory challenges, it has tremendous growth potential for the following reasons:
Vietnam has a large and growing population, especially among the youth, making it a promising market for iGaming operators.
Profitable market—
With the increasing penetration of the internet and mobile devices, Vietnamese players can easily access online gambling platforms, creating a favorable environment for operators.
Increasing internet and mobile device usage—
The Vietnamese government has shown a willingness to explore some forms of gambling, paving the way for potential liberalization and expansion opportunities in the future.
Changing regulations—
Vietnam is a rapidly growing market with tremendous potential, and both existing and aspiring operators have quickly taken notice. To seize opportunities and shape a sustainable future in this promising iGaming market, speed, expertise, and market experience are required.
