Use tax revenue from basketball betting to fund Hong Kong sports, lawmakers say

Hong Kong lawmakers have urged officials to use a projected HK$1.5 billion (US$193 million) in extra tax revenue from legalising basketball betting to develop local sports, as they gave an initial nod to a government plan to allow gambling on overseas games.

Home affairs minister Alice Mak Mei-kuen on Monday reiterated that the move was not to encourage gambling but rather to regulate basketball betting as a way to claw back up to HK$90 billion in turnover estimated to have been lost to illegal gambling operators.

Mak told a Legislative Council panel meeting that her team was aware of the rising popularity of illegal basketball betting in recent years.

“To combat such illegal activities in an effective manner, we are exploring regulating basketball betting activities,” she said.

“The proposed regulatory regime for basketball betting will be modelled on the existing one for football betting.”

The government is seeking to amend the Betting Duty Ordinance to issue a licence to the Hong Kong Jockey Club, the city’s sole betting operator, to manage basketball gambling.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Aura Global Celebrates Major Milestone Helping 500+ Hong Kong Students Once Labeled “Unsuitable” Thrive in the Netherlands

North Point, HK, Oct. 15, 2025 (GLOBE NEWSWIRE) — Aura Global Ltd., a Hong Kong-based education and immigration consultancy, is marking a major milestone after helping more than 500 families transform academic setbacks into global success stories. With a 90% post-graduation retention rate and a growing number of graduates securing employment before completing their studies,

15 October 2025
Man gets six months for Hong Kong bomb hoax aimed at framing girlfriend’s ex

Man gets six months for Hong Kong bomb hoax aimed at framing girlfriend’s ex

A man has been sentenced to six months in prison after he placed bomb hoax threats targeting Hong Kong’s Kai Tak Stadium in an attempt to plant blame on his girlfriend’s ex-boyfriend for the criminal act. At West Kowloon Court on Wednesday, Zhang Kejia, 35, pleaded guilty to making three bomb hoax threats on May

15 October 2025
Hong Kong Monetary Authority picks second batch of banks, tech firms to test AI in finance

Hong Kong Monetary Authority picks second batch of banks, tech firms to test AI in finance

The Hong Kong Monetary Authority (HKMA) has picked the second batch of use cases for testing of generative artificial intelligence (GenAI), as it looks to further promote responsible technological innovation in the financial-services sector. “The second cohort represents a major leap forward in making AI adoption safer and more robust,” said Arthur Yuen Kwok-hang, the

15 October 2025
No evidence talent abused schemes to give birth in Hong Kong: labour chief

No evidence talent abused schemes to give birth in Hong Kong: labour chief

Hong Kong’s labour chief has dismissed suggestions that newly arrived talent are exploiting admission schemes to give birth in the city, saying no evidence or data supports such claims. He called on society to treat the professionals with respect, as they had gone through stringent vetting procedures. “Based on the numbers of newborns in the

15 October 2025
Milestone law ends decade in limbo for ride-hailing services in Hong Kong

Milestone law ends decade in limbo for ride-hailing services in Hong Kong

Hong Kong lawmakers have passed a bill legalising ride-hailing services, ending a decade of operations in legal limbo and a long-running dispute with the city’s taxi trade. Lawmakers passed the Road Traffic Amendment Bill on Wednesday and it will be sent to Chief Executive John Lee Ka-chiu for his signature. The law will come into

15 October 2025
Spirit of Hong Kong Awards: educator helps seniors unleash their hidden potential

Spirit of Hong Kong Awards: educator helps seniors unleash their hidden potential

An award-winning journalist turned educator is teaching Hong Kong how to age well – not through textbooks, but through life stories. At Ginger Innovation, founder Chen Yimin trains older adults to become storytellers and mentors, helping them rebuild confidence and inviting society to redefine ageing as a form of continued learning. When Chen left journalism

15 October 2025