Hong Kong Jockey Club invited to submit proposal for basketball betting
This comes as part of the 2025-26 Budget announced today.
Key points:
– The Hong Kong Jockey Club has been invited to submit a proposal for legalised basketball wagering
– The Government will hope to raise extra funds to deal with deficit in the region
Hong Kong has taken its first steps to legalise basketball betting after the Government delivered its 2025-26 Budget announcement.
Reports had surfaced over the last few days suggesting the legalisation of basketball betting was being considered by the Government to raise extra funds, potentially helping plug the region’s nearly HK$100bn (US$12.86bn) deficit.
This idea is not a new one either, with the proposal raised last year; a number of political parties called for legal basketball betting to help combat illegal gambling and help increase public revenue.
Hong Kong’s Financial Secretary Paul Chan Mo-po, however, rejected this idea at the time, suggesting it could send out the wrong message, encouraging young people to gamble.
Good to know: In Hong Kong, only betting on football and horseracing is currently permitted, while there is also the Mark Six Lottery
This comes after Hong Kong’s Budget announcement for 2025-26, when the Hong Kong Jockey Club (HKJC) was invited to submit a proposal to implement regulated basketball betting.
The HKJC emphasised that this will be key in helping combat illegal basketball betting, which has led to a number of social issues, and has seen illegal basketball betting turnover reach between HK$70bn and HK$90bn in the last year.
The club confirmed it would be sending a proposal to the Hong Kong Government as it looks to bring basketball betting to the region and help combat illegal betting.
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