Legalising basketball betting could add HK$2 billion (US$257.2 million) in duties to government coffers annually, Hong Kong’s finance chief has said, although observers have raised concerns about the promotion of gambling and related youth problems.
The club said it would submit a detailed proposal shortly and looked forward to working closely with the government to “implement this important policy initiative as soon as possible”.
At a press briefing following his budget address, Chan did not respond to a question on when the administration planned to legislate basketball betting.
An insider said it was too early to offer a time frame for implementation as the government would launch a public consultation and it would also involve the legislative process if the community supported the measure.
