The Hong Kong Jockey Club (“the Club”) welcomes and fully supports the announcement of the Hong Kong Special Administrative Region Government (“HKSARG”) in the 2025-26 Budget today (26 February 2025) that it will invite the Club to submit a proposal to implement regulated basketball betting.
The Club agrees that there is a strong case for taking this important step as an effective means to combat and arrest the rising trend of illegal basketball betting, which leads to numerous social problems, such as loan sharking and underage gambling. According to the Club’s estimates, the turnover of illegal basketball betting has reached around HK$70 billion to HK$90 billion in last year.
As a not-for-profit sports and charity organisation rooted in Hong Kong for 140 years, with the sole purpose of acting continuously for the betterment of society, the Club has for decades been the trusted partner of the HKSARG in conducting a legal and responsible gambling regime under the laws of Hong Kong. The Club’s unique Integrated Business Model has proven itself time and again to be the best and most effective way of combatting illegal betting. The extension of the regulated regime to basketball betting will not only support the HKSARG’s efforts and enhance its effectiveness in combatting illegal betting, but will also strengthen the sustainability of the Club’s contribution to the community through impactful charity donations and significant tax revenues to the HKSARG. It is a matter of public interest.
The Club will submit a detailed proposal to the HKSARG shortly. We look forward to working closely with the HKSARG to implement this important policy initiative as soon as possible.
The Hong Kong Jockey Club
Founded in 1884, The Hong Kong Jockey Club is a world-class racing club that acts continuously for the betterment of our society. The Club has a unique integrated business model, comprising racing and racecourse entertainment, a membership club, responsible sports wagering and lottery, and charities and community contribution. Through this model, the Club generates economic and social value for the community and supports the HKSAR Government in combatting illegal gambling. In 2023/24, the Club returned a total of HK$40.1 billion to the community. This included HK$29.9 billion to the HKSAR Government in duty, profits tax and Lotteries Fund contributions and HK$10.2 billion in approved charity donations. The Club is Hong Kong’s largest single taxpayer and one of the city’s major employers. Its Charities Trust is one of the world’s leading charity donors.
