A Hong Kong legislator has renewed calls for the government to permit the Hong Kong Jockey Club (HKJC) to offer basketball betting, suggesting it could generate substantial tax revenue and combat illegal gambling activities.
Ronick Chan, a member of the Legislative Council, made these remarks during discussions on the forthcoming budget, advocating that legalising basketball betting would bolster the city’s finances and help regulate unauthorised betting markets.
He emphasised, “Instead of banning it, we should manage it.” Chan further pointed out that incorporating basketball into HKJC’s legal betting offerings could yield over $128 million (€118 million) in annual betting duty revenue for the government. Additionally, he argued that this move would help reduce crime associated with illegal gambling syndicates operating outside the law.
The proposal has garnered support from various quarters. In 2024, HKJC’s CEO, Winfried Engelbrecht-Bresges, revealed that illegal basketball betting in Hong Kong was estimated to exceed $6.4 billion (€5.9 billion), involving up to 150,000 residents.
Despite these figures, former Financial Secretary Paul Chan opposed the idea, expressing concerns about its potential negative impact on young people and the possibility of increased gambling participation.
Under the current legal framework, as stipulated by the Gambling Ordinance enacted in 1977, all gambling activities in Hong Kong are illegal unless expressly authorised by the government. The Hong Kong Jockey Club (HKJC) holds a government-granted monopoly on horse racing, football betting, and the Mark Six lottery.
Betting with unauthorised bookmakers and gambling outside licensed establishments are prohibited. The HKJC is a significant contributor to Hong Kong’s economy; in the 2023/24 financial year, it returned a record $5.14 billion (€4.73 billion) to the community, including $3.84 billion (€3.53 billion) in betting duty, profits tax, and Lotteries Fund contributions, along with $1.31 billion (€1.2 billion) in approved charity donations.
Despite the HKJC’s substantial contributions, the organisation has faced financial challenges. In the 2023/24 fiscal year, total racing turnover declined by 3.1 percent to $17.46 billion (€16.1 billion).
Conversely, football betting reached a record high of $20.56 billion(€18.96 billion), a 2.2 percent increase over the previous year. However, the introduction of a $0.3 billion (€0.28 billion) Special Football Betting Duty significantly impacted the Club’s income, causing football revenue to drop by 16.6 percent to $1 billion (€0.96 billion).
The debate over legalising basketball betting continues as lawmakers deliberate on the future of gambling regulation in the city. Proponents argue that expanding legal betting options could align Hong Kong with international market trends, enhance tax revenue, and provide a regulated environment for bettors.
Opponents, however, raise concerns about potential social repercussions, particularly the impact on youth and the broader community. As discussions progress, the government faces the challenge of balancing economic benefits with social responsibilities in its approach to gambling legislation.
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