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 an NGO have proposed.
The city’s largest think tank Our Hong Kong Foundation on Friday 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, 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 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.
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.
