Hong Kong could rake in billions from basketball betting but experts have doubts

Government has invited the Hong Kong Jockey Club to submit a proposal on expanding its sports gambling options to include basketball

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A Jockey Club betting branch in Tsim Sha Tsui. The finance chief said the club had estimated illegal basketball betting turnover had reached HK$70 billion to HK$90 billion last year. Photo: Jelly Tse

Published: 10:02pm, 26 Feb 2025Updated: 10:45pm, 26 Feb 2025

Legalising basketball betting could add HK$2 billion (US$257.2 million) in duties to government coffers annually, Hong Kong’s finance chief has said, although observers have raised concerns about the promotion of gambling and related youth problems.

Financial Secretary Paul Chan Mo-po revealed in his annual budget speech on Wednesday that the government had invited the Hong Kong Jockey Club to submit a proposal on expanding its sports gambling options to include basketball to “combat illegal betting activities in an effective manner”.

He said the club had estimated illegal basketball betting turnover had reached HK$70 billion to HK$90 billion last year, while duties could allow the government to earn between HK$1.5 billion and HK$2 billion every year.

The club said it would submit a detailed proposal shortly and looked forward to working closely with the government to “implement this important policy initiative as soon as possible”.

At a press briefing following his budget address, Chan did not respond to a question on when the administration planned to legislate basketball betting.

An insider said it was too early to offer a time frame for implementation as the government would launch a public consultation and it would also involve the legislative process if the community supported the measure.