illegal betting – Charm

Exclusive | Jockey Club to pivot HK$1 billion basketball betting investment to curb illegal football wagering

2 days ago02 mins

Hong Kong’s sole legal betting operator had earmarked HK$1 billion (US$127.7 million) and hired 180 people to develop a basketball wagering system, but will now take a financial hit after the government announced this week it was halting plans for its roll-out, a source has said. The source close to the Hong Kong Jockey Club…

Hong Kong proposes 50% duty on net profits from basketball betting

Cs news11 months ago02 mins

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…