Hong Kong to launch legal basketball betting after amendment announced

The Hong Kong government has announced they will sponsor legal basketball betting, with the 2024 Betting Duty (Amendment) Bill released to the public. 

The amendment, which will fall under the existing betting framework, will change the Betting Duty Ordinance Cap (108) and other legislation required for a legal structure for basketball betting. 

The changes means the Secretary for Home and Youth Affairs will be able to issue licenses to retail basketball betting operators and provide them with stringent guideposts. 

The Betting and Lotteries Commission in Hong Kong will also be given new powers to police the new wagering pursuit. 

Basketball is one of the most popular sports to bet on in Hong Kong, with the NBA, Chinese Basketball Association and even Japanese and Australian leagues drawing great interest. 

Hong Kong, on top of setting up youth counselling services, will run a public campaign highlighting the pitfalls of wagering with unlicensed operators. 

The 2024 Betting Duty (Amendment) Bill is due for its first reading in the Legislative Council on July 2. 

Our thoughts – Basketball betting just the tip of the iceberg

While Hong Kong does not allow most forms of online betting it is estimated up to HKD $350billion is wagered illegally yearly, with about 15% of this on basketball. 

With the high internet penetration in Hong Kong it is next to impossible to stop international betting sites from accepting punters from this region. 

With the harms from unchecked gambling well established, the Hong Kong government has decided that if you can’t stop it, you may as well embrace it. 

But having said that, the plans to launch preventative measures targeting youth gambling is smart, and the Ping Wo Fund Advisory Committee will play an important role in keeping residents safe. 

Overall, we see the launch of legal basketball betting in Hong Kong to be inevitable, with a regulated environment, with safeguard in place, the only way to help those with problem gambling signs.