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South China Morning Post
15-04-2025
- Business
- South China Morning Post
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. Advertisement 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. Advertisement 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.
South China Morning Post
02-04-2025
- Business
- South China Morning Post
Hong Kong launches public consultation on legalisation of basketball betting
Hong Kong authorities have launched a public consultation on the legalisation of basketball betting, with any future operator to be disallowed from organising bets on local matches to protect the health of the sport in the city. Advertisement The Hong Kong Jockey Club , the city's sole legal betting operator, estimated that illegal basketball betting came up to HK$90 billion (US$11.6 billion) last year, as the government launched a consultation scheme to legalise such bets and grant a licence to the Hong Kong Jockey Club. 'The government will adopt a pragmatic approach by allowing only a limited number of authorised gambling outlets,' a Home and Youth Affairs Bureau spokesman said. Financial Secretary Paul Chan Mo-po unveiled plans to legalise basketball betting in his budget speech in February, saying legal basketball betting could add HK$2 billion to government coffers. The government said the public consultation, which would last a month and end on May 2, would take into consideration an earlier proposal by the Hong Kong Jockey Club, the sole legal betting operator in the city, as well as views from the Betting and Lotteries Commission. Advertisement The proposed regulatory regime for basketball betting would be similar to the one for football betting, with every licence to be issued with a fixed duration, while the government would have powers to impose restrictions on the types of bets and classes of competitions allowed.
