It is reported that Hong Kong is considering legalizing basketball betting to increase additional government revenue.
Hong Kong's Financial Secretary, Paul Chan, submitted the 2025-26 budget for Hong Kong, and it is reported that the legalization of basketball betting would help increase government revenue to address Hong Kong's nearly HKD 100 billion (USD 12.9 billion) deficit.
Worth noting: Data from the Hong Kong Jockey Club for the fiscal year 2023/24 shows a slight increase in football turnover
If this measure is implemented, it would allow the Hong Kong Jockey Club (HKJC), which holds a gambling monopoly in the region, to expand its sports betting options, which currently include football and horse racing besides the Mark Six lottery.
This is not the first time such a proposal has been made in Hong Kong. At this time last year, calls for the legalization of basketball betting were personally rejected by Benny Chan, the minister indicating that legalization might send the wrong message, encouraging young people to gamble.
At that time, multiple political parties called for the introduction of basketball betting to combat illegal gambling and increase public revenue, while the Hong Kong Jockey Club emphasized the need to introduce new betting options to combat illegal bookmakers.
