News

Professional Services/Legal

Staff Reporter

, Hong Kong

Published:

5 days ago

Photo by RDNE Stock project from Pexels

Gov’t to regulate basketball betting

The turnover of illegal basketball betting reached $70b to $90b in 2024.

The government is eyeing to establish a regulatory regime for basketball betting to combat illegal betting activities by modelling on the existing regime for football betting.

According to the Hong Kong Jockey Club (HKJC), the turnover of illegal basketball betting reached $70b to $90b in 2024.

In amending the Betting Duty Ordinance, the Secretary for Home and Youth Affairs will be authorized to issue a licence for basketball betting to the HKJC and impose licensing conditions to minimise tits negative effects.

As for the major licensing conditions, it is proposed that a fixed duration be set on the licensing period.

Further, other conditions state that the licensed operator will not be allowed to accept bets on basketball matches involving Hong Kong teams or matches that take place in Hong Kong.

Additionally, the licensed operator should not accept bets from juveniles, and it must not accept credit betting.

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