Hong Kong think tank suggests basketball gambling revenue should fund sports development
Hong Kong’s most prominent think tank, Our Hong Kong Foundation, has proposed that revenue from legalized basketball betting should be used to fund sports development in the city, according to the South China Morning Post.
In February, Financial Secretary Paul Chan Mo-po proposed regulating online betting on basketball in his budget speech, stating that the change could raise over HK$2 billion (US$257 million)1 HKD = 0.1287 USD
2025-04-07Powered by CMG CurrenShift in revenue for the government.
Following this announcement, the relevant government department, the Home and Youth Affairs Bureau, launched a month-long public consultation earlier this week.
The Research Manager at Our Hong Kong Foundation, Josselyn Chau, said that as much as 40% of the revenue raised from basketball betting could be used to repair and upgrade community sports facilities, around 30% to hire international coaches, and the remaining amount to explore opportunities to bring international sports events to Hong Kong.
“We should utilize the additional profits to give back to society, especially in terms of public investment,” Chau said.
Online betting on basketball is extremely popular in Hong Kong, with some estimates suggesting that the illegal market could be worth up to HK$90 billion (US$11.6 billion)1 HKD = 0.1287 USD
2025-04-07Powered by CMG CurrenShift every year.
Some concerns have been raised about the potential social impact of legalizing gambling, and authorities have indicated that they will take a pragmatic approach, allowing a limited number of gambling outlets.
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