Vietnam iGaming Market: A Golden Opportunity for Operators
Vietnam’s iGaming sector is thriving due to technology advancements and the popularity of online entertainment. With a tech-savvy population of over 98.7 million and increasing internet usage, Vietnam presents enormous potential for iGaming operators.
The Vietnamese government aims to legalize gambling to boost national income. They initiated a three-year pilot program in 2019, allowing two local casinos to accept Vietnamese players. The government has also approved sports betting and is considering expanding the range of eligible events, demonstrating their commitment to exploring gambling’s economic benefits.
Despite strict local gambling bans, Vietnamese players flock to overseas online gambling platforms, spending billions annually. Black market sports betting alone accounts for US$ 10 billion a year per year by Vietnamese players.
With the Vietnamese government implementing policies to legalize certain forms of gambling and the local market witnessing a surge in players frequenting overseas gambling websites and border casinos, the industry’s development prospects appear promising, making it an enticing space to capitalize on.
Localising the Key to Vietnamese Players
Establishing an iGaming platform designed for the local market is key to attracting players.
Vietnamese First – iGaming sites which can offer users the option to use the site in Vietnamese can position themselves as the preferred choice for local players.
VND Means Easy – Incorporating VND transactions is a strategic move to enhance appeal and competitiveness in the Vietnamese gambling market.
Local Games – Including traditional Vietnamese games in your platform like Sic Bo can help differentiate from competitors and forge a strong bond with the local player base.
Popular Games in the Vietnamese iGaming Market
According to insights gathered by Kzing, Vietnamese players exhibit a strong preference for games that are not only easy to understand but also offer fast-paced and exciting gameplay, with slots being the undisputed favorite among Vietnamese players.
Other favourites include:
To succeed, operators should also embrace live games and integrate social media features to cater to the evolving preferences of Vietnamese players.
Mobile is the Method
In Vietnam, mobile internet users have exceeded 70 million, and mobile devices are being adopted at a high rate. Therefore, providing mobile payments, in addition to cryptocurrency like Botcoin and Ethereum, can make it more convenient for players to access and play games, and improve user retention rates. Some of the most popular ones include Momo, Moca, ShopeePay (AirPay), ZaloPay, and Viettal Pay. For Vietnamese white-label solutions providers, cooperation with these payment channels is very important.
Effective Marketing Strategies for the Vietnamese iGaming Market
Vietnamese iGaming companies use various marketing strategies, including SEO, Google, Affiliate, Facebook, SMS, Banner, and articles. Effective marketing campaigns are essential to attract and retain players, and the Vietnamese market responds well to personalized ads. White-label solutions providers can offer Vietnamese customer service, E2 fraud and compliance, staff hiring, and apps that support the Vietnamese market, especially sports.
In Vietnam, social media plays a vital role in people’s daily lives, and integrating social media platforms into iGaming apps and sports-betting apps can improve user engagement and retention rates. White-label solutions providers can offer social media integration with popular Vietnamese platforms 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 conclusion, while the Vietnamese iGaming market is still evolving and navigating regulatory challenges, it holds tremendous potential for growth for these reasons:
Lucrative Market – Vietnam has a large and growing population, especially among the younger demographic, making it a promising market for iGaming operators.
Increasing Internet and Mobile Usage – With the rise in Internet and mobile penetration, Vietnamese players have easy access to online gambling platforms, creating a favourable environment for operators.
Shifting Regulations – The Vietnamese government has shown a willingness to explore certain forms of gambling, paving the way for potential future liberalization and expanded opportunities.
Vietnam is a fast-growing market with high potential that operators, existing and aspiring alike are quickly noticing. It will take speed, expertise, and experience of the market to capitalize on the opportunities and shape a sustainable future in this promising iGaming market.
Kzing white label has helped operators enter Asian markets since 2012, creating customised, white label iGaming packages which are designed to meet your market needs, from China, Thailand, Indonesia, India, and especially, Vietnam.
Kzing’s all-in-one white label solutions include:
Intelligent risk control
Data reporting system
Kzing’s additional services to help you go to market are:
Assistance in setting up overseas operations points
Back office training
Start your iGaming platform easily with a white label provider like Kzing, with tailored packages for Asian markets. Visit the Kzing website for a professional consultation.
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