Hong Kong proposes 50% betting duty on basketball wagers
Hong Kong authorities have recommended imposing a 50% duty on operators’ net profits derived from basketball betting, as part of a proposed regulatory regime for the sport.
The proposal follows a public consultation in which more than 94% of respondents favored legalizing betting on the sport.
Last week, the Hong Kong government submitted a paper to the city’s Legislative Council, which recommended that the method currently used to calculate the tax on soccer betting could be applied to basketball wagers. Soccer betting is also currently taxed at 50%.
Speaking about the proposal, the Hong Kong Secretary for Home and Youth Affairs, Alice Mak Mei-kuen, said that it did not mean that the government wanted to encourage gambling, but represented the best option in the circumstances.
“The last resort is when illegal gambling activities have become rampant; we need a limited and legal channel to divert illegal gambling activities into legal betting,” Mei-kuen said.
The proposal, which is due to be discussed by the Legislative Council’s panel on home affairs, culture, and sport, follows an earlier plan to launch a regulatory framework for legal basketball betting based on the current rules for soccer betting.
More proposed amendments include certifying the Secretary for Home and Youth Affairs to grant basketball betting licenses and create a licensing regime that will minimize the harmful gambling effects on the public.
Figures provided by the Hong Kong Jockey Club suggest that illegal basketball betting was worth up to HK$90 billion (US$11.5 billion)1 HKD = 0.1274 USD
2025-06-09Powered by CMG CurrenShift last year.
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