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Hong Kong Considers Regulating Basketball Betting to Boost Revenue

Published: Feb. 27, 2025 3:57 a.m. GMT+8

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The Hong Kong Jockey Club estimates illegal basketball gambling wagers reach approximately HK$70 billion to HK$90 billion in 2024.

Facing a fiscal deficit for the sixth consecutive year, the Hong Kong government is exploring the regulation of basketball betting as a potential new revenue source, Financial Secretary Paul Chan announced Wednesday in his latest budget speech to the Legislative Council.

Chan said that the government aims to curb illegal gambling and will invite the Hong Kong Jockey Club (HKJC) to submit proposals on legalizing basketball betting.

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Hong Kong plans to explore regulated basketball betting to address a fiscal deficit and curb illegal gambling, with potential tax revenue estimated between HK$1.5-2 billion annually.
Illegal gambling on basketball is significant, with estimates of HK$70-90 billion in illegal bets, prompting government and HKJC actions to regulate.
Existing legal betting in Hong Kong includes horse racing, football, and lotteries. The booming sports betting market already contributes significantly to government revenue through various taxes.

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Who’s Who

Hong Kong Jockey Club: The Hong Kong Jockey Club (HKJC) is the sole legal operator of horse racing, football betting, and the Mark Six lottery in Hong Kong. It contributed HK$29.9 billion in taxes and allocations last year. The HKJC is exploring proposals to regulate basketball betting, aiming to curb illegal gambling and generate additional tax revenue. It sees regulation as an opportunity to address social risks and expand its charitable contributions.

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What Happened When

2009：: The Chinese mainland introduced basketball betting lottery.

2023/24：: As part of the budget, authorities imposed an Additional Football Betting Duty, requiring the HKJC to pay an extra HK$2.4 billion a year.

2024：: Illegal bets on basketball games were estimated to range between HK$70 billion and HK$90 billion, according to the HKJC.

June 30, 2024：: The fiscal year ended, during which the HKJC reported a total betting turnover of HK$304.89 billion.

February 26, 2025：: Financial Secretary Paul Chan announced in his budget speech that the Hong Kong government is exploring the regulation of basketball betting.

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