After initial reluctance, authorities in Hong Kong have softened their stance on betting on basketball. The first step towards the legalisation of betting on basketball was taken in the Budget for 2025-25 of the Government of Hong Kong. (More Sports News)
Reports suggest that the Government of Hong Kong is considering legalising basketball betting as they see the potential in the industry to help the authorities fulfill the region라이브 바카라 nearly HK$100bn (US$12.86bn) deficit.
Multiple political parties had been demanding to make basketball betting legal as it would help combat illegal gambling and increase public revenue. However, authorities believed that such a step would send out a wrong message to the young population in the region. Hong Kong라이브 바카라 Financial Secretary Paul Chan Mo-po had said that legalising basketball betting will encounrage youth of the land to gamble.
However, at the budget announcement for the upcoming fiscal year, reports suggest that Hong Kong Jockey Club (HKJC) was invited to make a proposal to implement regulated basketball betting.
The Club too confirmed the development and said to media that they will provide a proposal that will help in curbing illegal betting.
The HKJC stated that illegal betting has led to a number of social issues, and has seen illegal basketball betting turnover reach between HK$70bn and HK$90bn in the last year.
