Hong Kong authorities are planning to engage the Jockey Club for discussions on adjusting the maximum betting limits for basketball to provide a regulated channel for such activities, as the government moves to legalise wagering for the sport. Secretary for Home and Youth Affairs Alice Mak Mei-kuen said on Saturday that lawmakers previously suggested the…
Hong Kong authorities have proposed a 50 per cent duty on the operators’ net betting profits from basketball gambling, while a public consultation found that 94 per cent of respondents supported legalising such activities. In a paper submitted to the Legislative Council on Thursday, the government said that the existing calculation and collection methods for…
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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. Financial Secretary Paul Chan Mo-po revealed in his annual budget speech on Wednesday that the government had invited the Hong…
Hong Kong bettors already wager a huge amount on basketball with illegal sportsbooks. The Chinese SAR is reportedly considering legalising the bets to help plug a budget shortfall. An “insider” last week told the South China Morning Post that Hong Kong’s 2024-25 budget, to be released tomorrow (26 February), may include a plan for legal…
Hong Kong’s finance chief is considering raising government revenues by legalising basketball betting as part of measures to tackle the city’s close-to-HK$100 billion (US$12.9 billion) fiscal deficit, the Post has learned. Two days before Paul Chan Mo-po’s budget speech, an insider confirmed on Monday that authorities could allow the Hong Kong Jockey Club to expand…