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 rate.
Financial Secretary Chan Mo-po had already proposed in the financial budget in February this year that, given the rampant illegal basketball betting activities, the government will actively consider regulating it through legal channels and has invited the Hong Kong Jockey Club to research and submit a feasible plan.
Subsequently, the government launched a month-long public consultation in early April, which ended in early May. According to statistics released by the Civil Affairs and Youth Affairs Bureau on June 5, a total of 1,063 opinions were received, of which 999 explicitly expressed support or a positive attitude towards the plan, showing that the public generally recognizes the inclusion of basketball betting in a regulated track.
Many citizens emphasized in their opinions that they hope the government will implement relevant measures as soon as possible to combat the illegal gambling market and ensure that gambling activities are conducted in a regulated environment.
According to preliminary ideas, the regulatory system for basketball betting will draw on the current practices of football betting, with the same tax rate—50% of the net betting amount (after deducting prizes) as gambling tax.
Furthermore, to prevent gambling addiction and excessive market competition, the government suggests continuing to adopt a single operator system, with the Hong Kong Jockey Club exclusively holding the license to operate basketball betting services. At the same time, to protect the fairness of local events, it is proposed to prohibit betting on basketball events involving the Hong Kong team or locally held events.
Currently, the relevant policy suggestions are still under further assessment and formulation. The government stated that it will synthesize opinions from all parties to ensure a balance between sports development, public interest, and gambling regulation.
