Hong Kong plans basketball betting framework with Jockey Club likely to operate
Hong Kong’s Secretary for Home and Youth Affairs Alice Mak has said the government is likely to give the Hong Kong Jockey Club the green light to run basketball betting.
Among the proposals, Hong Kong is looking to introduce a regulatory framework for basketball betting and is also proposing a tax of 50% on the net betting amount. A recent public consultation with a total of 1,063 submissions showed strong support for the idea, with 94% of people backing regulation.
Cited by RTHK, Mak said that once the system is ready, the Jockey Club is expected to receive the license to operate it. She added that letting other gambling companies handle it could increase the overall gambling atmosphere, something the government wants to avoid. She made it clear that the government’s core policy is not to encourage gambling.
Hong Kong attempts to avoid promoting gambling despite possibly backing basketball betting
Currently, Hong Kong allows for betting on football and horse racing
She also mentioned that the government will talk to the Jockey Club about how it can give back to society once it gets involved. One idea on the table is to use the “Ping Wo Fund” to open another counseling and treatment center for people struggling with gambling issues. Another option is to channel more support into local sports development.
During a radio interview, Mak said the Ping Wo Fund, which helps prevent and reduce gambling-related problems, has seen a steady number of help requests in recent years. Fewer young people have been reaching out for help, and betting among youth isn’t seen as a major problem right now. Still, Mak stressed that the government takes this issue seriously and will continue to boost education and support for young people through the fund, regardless of whether basketball betting goes ahead.
She stated: “We can see it as the last resort when the illegal gambling problem is so serious that we need to channel the illegal gambling to a regulated gambling regime.”
Mak explained that basketball betting would follow the same rules already in place for football betting. That means no one under 18 would be allowed to place a bet, only cash transactions would be accepted to prevent people from racking up debt like they might with illegal gambling operations, and there would be no betting allowed on local games or matches involving local teams.
Mak said she would present the results of the public consultation, along with the government’s proposed next steps, to the Legislative Council’s Panel on Home Affairs, Culture and Sports on June 9.
ReadWrite has reached out to the Hong Kong Jockey Club for comment.
Featured image: HOY International Business Channel via YouTube
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