for early access to the latest igaming videos!
and get the latest igaming news first!
Hong Kong is on the verge of a major shift in its approach to sports betting, with the government now moving forward on a proposal that could see basketball betting legalized and tightly regulated for the first time. The Hong Kong Jockey Club (HKJC), which already oversees legal betting on football and horse racing, is at the center of this push, projecting that the move could channel billions in wagers away from the city’s thriving illegal market.
A Growing Problem with Illegal Betting
The numbers behind the push for regulation are hard to ignore. Following statistics cited by the HKJC, illegal betting on basketball in 2024 reached about 430,000, a staggering 186% increase from the previous year. Turnover of basketball betting alone in the illegal market was estimated at HK$90 billion or about USD11.47 billion. These numbers have alarmed lawmakers and regulators, who see the unchecked growth of illegal gambling as a threat to public order and lost potential revenue for the government. The ambition is clear: to create a safe, controlled environment in which basketball fans can bet, cutting the life from unregulated—and often immoral—bookmakers.
The Proposed Regulatory Framework
In response, Hong Kong’s Executive Council has tabled a bill that would establish a clear regulatory regime for basketball betting, modeled closely on the system currently in place for football. If passed, the HKJC would become the sole licensee for basketball betting, with a betting duty set at 50% of net stake receipts. The proposal is not being pitched as a revenue generator for the government, but the numbers still suggest a significant windfall: the HKJC estimates that, once the market matures, annual turnover from authorized basketball betting could reach HK$28 billion (USD3.57 billion), yielding approximately HK$1.5 billion (USD191 million) in duty each year.
Safeguards and Social Responsibility
The proposed law comes with a set of strict conditions. The license would be issued for a fixed duration, and the government would retain the right to restrict the types of bets and competitions available. Importantly, the HKJC would be barred from accepting wagers on games involving Hong Kong teams or on matches played within the city itself. To better protect the public from harm, the bill also makes betting by minors illegal and outlaws all kinds of credit betting. The HKJC would be made to display warnings of the evils of addiction to gambling and information regarding assistance services for addicts.
Legislative Path and Public Support
The bill’s first reading and the start of the second reading debate are set for July 2nd, following its publication in the government Gazette. Further stages of committee and third readings will ensue, with the HKJC hoping the legislation may be implemented as early as September. The city’s Financial Secretary has already been backing the move, highlighting in his 2025-26 Budget Speech a need to regulate basketball betting as a way of shutting down illegal business, particularly online.
A Measured Approach to Change
The HKJC is realistic about the challenges ahead. The club has recognized that it will be some years before a substantial amount of basketball betting demand is shifted away from illegal operators to the regulated market.
As the debate rages in the Legislative Council, everyone will be waiting to see whether Hong Kong can strike the right balance between expanding legal wagering possibilities and protecting the interests of public welfare. A great deal hangs in the balance, not just for the government and the HKJC, but for the hundreds of thousands of basketball fans who have no legal means of betting on their favourite sport.
Source: Asia Gaming Brief (AGB)
