The players, from Dong Nai Club in the country's south, were arrested in 2014 following accusations they had manipulated the results of a V League match, judge Le Hong Cuong told AFP after the trial.
The team's captain, Pham Huu Phat, was sentenced to six years in jail, while four other players were given suspended sentences ranging from 24 to 30 months after the one-day trial in Dong Nai province, Cuong said.
The players were involved in fixing a match against northern Quang Ninh province's football team, in which Dong Nai lost 3-5, despite being by far the stronger team and in a safe position at the top of the league.
A police investigation found the five players had received VND400 million (US$18,500) from local gamblers in return for their team losing by at least two goals.
Four local gamblers involved in the case were also sentenced -- one of them to three years in prison, and the three others getting two year suspended sentences, the judge said.
The five players were also found guilty of fixing a match against northern Thanh Hoa province's team in the same season, which Dong Nai also lost 0-3, netting the players thousands of dollars, the judge said.