The Hong Kong Jockey Club (“the Club”) welcomes and fully supports the Hong Kong Special Administrative Region Government’s (“HKSARG”) decision in the 2025-26 Budget today (February 26, 2025), that it will request the Club to submit a proposal to implement regulated basketball betting.
The Club feels that there is a compelling justification for adopting this critical step as an effective means of combating and arresting the growing trend of illicit basketball betting, which leads to a slew of societal issues such as loan sharking and underage gambling.
According to the Hong Kong Jockey Club estimations, the illegal basketball betting market generated between HK$70 billion and HK$90 billion in revenue last year.
The Club, a not-for-profit sports and charity organization rooted in Hong Kong for 140 years with the sole purpose of continuously acting for the betterment of society, has for decades been the HKSARG’s trusted partner in conducting a legal and responsible gambling regime under Hong Kong laws.
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The Club’s innovative Integrated Business Model has repeatedly proven to be the most effective and efficient method of combating unlawful betting.
The expansion of the regulated regime to basketball betting will not only support the HKSARG’s efforts and increase its effectiveness in combating illegal betting, but it will also strengthen the Club’s contribution to the community by generating significant charitable donations and tax revenues for the HKSARG. It is a subject of public concern.
The Club plans to submit a detailed proposal to the HKSARG shortly. We look forward to collaborating closely with the HKSARG to accomplish this critical policy initiative as soon as possible.
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