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HKFP
4 days ago
- Business
- HKFP
Hong Kong hails ‘overwhelming support' for legalising basketball betting, proposes 50% levy on profits
The Hong Kong government has hailed 'overwhelming support' from scholars, athletes, and youth groups for its plan to legalise basketball betting in the city, following the conclusion of a one-month public consultation last month. Ninety-four per cent of the 1,063 submissions received by the government between April and May 'expressed support or positive views' on the proposal to regulate basketball betting under the Betting Duty Ordinance, according to a paper submitted by the Home and Youth Affairs Bureau to the Legislative Council on Thursday. Those who supported the legal amendment said public demand for basketball betting has 'increased significantly,' and a regulatory regime can protect bettors' rights and interests. The government proposed in April to amend the ordinance to grant the Secretary for Home and Youth Affairs the power to issue a basketball betting license to the Hong Kong Jockey Club (HKJC). The regulatory regime will mirror the existing one for football betting, the government said. In the paper released on Thursday, the government proposed imposing a 50 per cent levy on the net profits from basketball betting. Citing responses from supporters of the legislative proposal, the government said the HKJC may donate its additional revenue to welfare and charitable purposes. The tax revenue generated may also help the government allocate more resources on social welfare, supporters said, according to the government. Financial Secretary Paul Chan first unveiled the government's intention to regulate basketball betting during his 2025 budget speech in February. He said the legalisation could tackle illegal gambling and raise tax revenue amid the city's estimated deficit of HK$87.2 billion. The finance chief projected that regulating basketball betting could generate HK$1.5 billion to HK$2 billion in tax revenue. The government acknowledged on Thursday that 36 submissions – or 3.4 per cent of the responses collected – opposed the proposal. Those who objected raised concerns about the adverse impact of basketball betting on the youth, adding illegal gambling still existed after football betting was legalised. Responding to the concerns, the government said in the paper that the impact of betting activities on young people has been 'steady' in recent years. The proportion of bettors aged between 18 and 21 also 'consistently remained below two per cent,' the government said quoting the HKJC. Some suggested the government to prohibit individuals aged between 18 and 25 from placing bets online, while others proposed imposing restrictions on the amount and number of bets that can be placed by young people. The paper submitted on Thursday is set to be discussed by lawmakers on the Legislative Council's Panel on Home Affairs, Culture and Sports on Monday. 'Disastrous move' In February, the Hong Kong Committee on Children's Rights criticised the government's plan to regulate basketball betting, saying that giving a green light to basketball betting was a 'disastrous move.' The group said popularising sports betting could 'lure' young people to bet with their limited financial resources that should otherwise go to other needs. Gambling loss may also result in psychological pressure and guilt, which may deter individuals from seeking help, it said, warning that gamblers could enter a 'vicious cycle' where they turn to lending agencies or engage in criminal activities.
South China Morning Post
04-04-2025
- Business
- South China Morning Post
Hong Kong should use basketball gambling revenue for sports development: think tank
Hong Kong authorities should use revenue from the legalisation of basketball betting to set up a fund for sports development and boost counselling services for gambling addicts, a leading think tank and NGO have proposed. Advertisement The city's largest think tank Our Hong Kong Foundation urged the government to inject earnings from basketball gambling – estimated at more than HK$2 billion (US$257 million) a year – into a new fund for improving sports facilities in the community, promoting sports events, training professional athletes and hosting international sports events. 'We should utilise the additional profit to give back to society, especially those concerning public investment,' Josselyn Chau, research manager of the foundation, said. She suggested 40 per cent of the revenue could go to the renovating community sports venues, and 30 per cent for hiring international coaches that could offer better training for athletes. The final 30 per cent, Chau said, could be used for exploring more opportunities for Hong Kong to host more international games. Advertisement Her suggestion followed the launch of public consultation on the legalisation of basketball betting by the Home and Youth Affairs Bureau on Wednesday, which said it would adopt 'a pragmatic approach' by allowing a limited number of authorised gambling outlets. The move was first announced by Financial Secretary Paul Chan Mo-po during his budget speech in February. He said it was estimated basketball gambling could add over HK$2 billion to government coffers.
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.
