Legal basketball bets in Hong Kong must come with warnings, education
Hong Kong is likely soon to have another form of legal gambling on top of horse racing, football and the Mark Six lottery, following the government's launch of a public consultation on the proposed legalisation of betting on basketball.
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The month-long consultation will be a forum for arguments for and against the proposal that are similar to those advanced before the legalisation of football betting in 2003.
And it can be expected to result in the same outcome, with the Hong Kong Jockey Club aiming at initiating the new betting medium in September in time for the next season.
Financial Secretary Paul Chan Mo-po unveiled plans to legalise basketball betting in his budget speech in February, saying it could add HK$2 billion (US$258 million) to government revenue, mainly through duty and profits tax.
That is not to mention billions in charitable donations every year by the club. The consultation will take into account a proposal by the Jockey Club, the views of the Betting and Lotteries Commission, and a range of community voices.
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The proposed expansion of legal gambling is similar to the football betting regime. The operator will also be barred from accepting bets on local basketball games to safeguard the integrity of the sport from corrupt practices such as match-fixing, or accepting bets from juveniles or on credit.
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