by Darren Moore
The Hong Kong government is reviewing a proposal to expand legal sports betting beyond horse racing and football.
The plan, submitted by the Heung Yee Kuk (HYK) advisory council, suggests introducing regulated betting on basketball, snooker, and tennis. If approved, the initiative would be included in Financial Secretary Paul Chan Mo-po’s upcoming budget.
Key Highlights of the Proposal
- Expansion of Legal Sports Betting: The proposal recommends a state-controlled sports betting company to oversee wagering on basketball, snooker, and tennis.
- Revenue Potential: Legalizing betting on these sports could generate billions in annual betting tax revenue.
- Franchise Model: The government would invite bids for the franchise operation of the new betting entity.
Why This Matters
Currently, the Hong Kong Jockey Club (HKJC) holds exclusive rights to offer betting on horse racing, football, and the Mark Six lottery. Expanding legal betting options could help curb illegal gambling, particularly on basketball, where underground betting is widespread.
Analysts estimate that bringing basketball betting under regulation could absorb up to 60% of the illicit market, potentially generating a turnover of HK$52.5 billion (US$6.7 billion). However, setting up the required infrastructure would come at a significant cost, projected between HK$1.5 billion (US$191.7 million) and HK$2.5 billion (US$319.6 million).
What’s Next?
If the proposal moves forward, it could take up to 18 months to implement—similar to the timeline followed when legal football betting was introduced.
Darren Moore is a seasoned sports writer known for his in-depth analysis and engaging coverage of major golf tournaments. With over a decade of experience, he provides expert insights and betting tips for leading sports betting websites.
