The government said it will explore regulating basketball betting activities and invite the Hong Kong Jockey Club to submit a proposal on the matter.

Financial Secretary Paul Chan said in his budget speech on Wednesday that there have been public concerns about illegal basketball betting in the city in recent years.

Chan said according to the latest Jockey Club assessment, turnover of illegal basketball betting reached HK$70 billion to HK$90 billion last year, and he stressed the need to combat illegal betting activities in an effective manner.

The Hong Kong Jockey Club said in a statement that it would submit a detailed proposal to the government, adding it is eager to collaborate on this important policy initiative.

The club said the move is essential for addressing the surge in illegal basketball betting, which has contributed to social issues such as loan sharking and underage gambling.

It added that regulating basketball betting would not only combat illegal betting activities, but also enhance the club's ability to make charitable contributions and generate tax revenues.

Sports sector lawmaker Kenneth Fok welcomed the move, noting that this approach would not only tackle illegal gambling, but also channel related revenues back to the city.

The proposal is projected to generate an additional HK$1.5 billion to HK$2 billion in gambling tax revenue annually for Hong Kong.

"I would urge the government on one hand to discuss and also legalise the basketball gambling activities, but on the other hand increase its effort into educating the public through different institutions to make the public aware of the dangers of over gambling or gambling addiction," he said.

"[The] NBA also would have more activities in this region, not just in Hong Kong but in our neighbouring Macau. They are planning a lot of new activities which will bring in more fans. This is also maybe a result of such attention on basketball."

Fok hopes the Jockey Club can launch related betting projects before the start of the next NBA season.

Professor Patrick Lau from the department of sport, physical education and health at Baptist University said that while regulating basketball betting might provide a temporary solution to curbing illegal activities, the long-term consequences could be harmful.

"For the long term, the underground betting is still there. The controversial discussion about gambling in sports, ethically I see it's a problem. When we look at the research studies, the findings tell us that whenever those people spend HK$1 on gambling, the government at the end needs to spend HK$4 to treat [addicted] gamblers. So for the long term, we will suffer," he said.
_____________________________
Last updated: 2025-02-26 HKT 17:22