SBC News Voice of the Sports Betting Industry
Paul Chan Mo-po, the Finance Secretary of Hong Kong, will allow the Hong Kong Jockey Club (HKJC) to submit a proposal to extend its wagering rights to include betting on basketball.
The announcement was made on Wednesday as part of the 2025/2026 Budget proposal for the Hong Kong Special Administrative Region Government (HKSARG).
Budget measures for 2025/2026 aim to reduce a deficit of HK$87 billion (€12 billion) due to Hong Kong’s financial exposure to lower tax revenues generated from land sales.
HKJC welcomes the opportunity to extend its wagering rights, granted under the Gambling Ordinance of Hong Kong. The ordinance was last updated in 1997, granting HKJC the rights to manage horseracing and football bets and to operate Mark-6 lottery draws.
The club has previously called for an expansion of its betting rights as an effective means to combat the rising trend of illegal betting. The government has been warned that Hong Kong is heavily targeted by black market bookmakers, which contribute to an annual loss of HK$15 billion (€2 billion) for consumers.
For basketball alone, HKJC estimates that the turnover of illegal basketball betting has reached approximately HK$70 billion to HK$90 billion in the past year, involving around 150,000 players.
The Hong Kong government has reassured that the extension of basketball wagering will be overseen by HKJC’s Integrated Business Model, which has proven to be the most effective way of combatting illegal betting.
HKJC stated: “The extension of the regulated regime to basketball betting will not only support the HKSARG’s efforts and enhance its effectiveness in combatting illegal betting, but will also strengthen the sustainability of the Club’s contribution to the community through impactful charity donations and significant tax revenues to the HKSARG. It is a matter of public interest.”
The extension of HKJC’s wagering rights is supported by the statutory advisory council of Heung Yee Kuk (HYK), Hong Kong’s oldest policy advisory body, which recommended that the measure be included in the 2025/2026 Budget.
HKJC concluded: “We will submit a detailed proposal to the HKSARG shortly. We look forward to working closely with the HKSARG to implement this important policy initiative as soon as possible.”
In 2023/24, the Club returned a total of HK$40.1 billion to the community. This included HK$29.9 billion to the HKSAR Government in duty, profits tax, and Lotteries Fund contributions, and HK$10.2 billion in approved charity donations.
The Club is Hong Kong’s largest single taxpayer and one of the city’s major employers. Its Charities Trust is one of the world’s leading charity donors.
