The Hong Kong Jockey Club (HKJC) announced that the total betting amount for the 2024/25 racing season increased by 3% year-on-year, reaching HK$138.85 billion (approximately US$17.6 billion), reversing the previous year's decline of 4.5% and indicating that the industry has returned to a growth tra
The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, recently announced that the "Stablecoin Ordinance" will be officially implemented in August 2025. Hong Kong will initiate a stablecoin licensing system, and the first batch of licenses might be issued within this ye
The Hong Kong Special Administrative Region Government recently published the "2025 Gambling Tax (Amendment) Bill" in the Gazette, proposing to officially include basketball betting within the legal framework. This amendment aims to curb illegal gambling activities, regulate market operations, and e
Hong Kong and Singapore police recently joined forces in a transnational law enforcement operation, successfully dismantling a cross-border group centered around Chinese individuals who used "cat pool" devices for large-scale telecommunications fraud, involving funds up to 120 million yuan, marking
Small bets for pleasure, big bets for financial loss? The Hong Kong government is pushing a key "upgrade" in the gambling industry—the legalization of basketball betting, not only to challenge the underground kingdom of illegal betting on basketball but also to snatch gold from the jaws of Southeas
The Hong Kong government plans to revise the "Gambling Tax Ordinance" by introducing a basketball betting regulatory framework, proposing to levy a 50% tax on net betting amounts, and suggesting that the Hong Kong Jockey Club be granted the sole license to organize it. The Secretary for Home Affairs
The Hong Kong government recently completed a public consultation on the legalization of basketball betting, with results showing that over ninety percent (94%) of respondents support the establishment of basketball betting and suggest that 50% of the net betting amount be used as the gambling tax r
Recently, the Hong Kong police launched a large-scale law enforcement operation and successfully cracked a cross-border money laundering criminal network between Hong Kong and the mainland, involving an amount of up to 118 million Hong Kong dollars. A total of 12 suspects were arrested in this opera
