Hong Kong is seriously considering a major change in policy by legalizing betting on basketball . He has invited the Hong Kong Jockey Club (HKJC) to now submit a detailed proposal. Just last week, after the 2025-26 Budget announcement, the government acknowledged the need to find new revenues as it sought to address its disturbing HK$100 billion (US$12.86 billion) deficit. The idea of legalized betting on basketball has floated around for some time now but was quite immediately dismissed by Financial Secretary Paul Chan Mo-po last year, for the fact that it might lead to gambling amongst young people. However, the resurfacing of basketball betting indicates the stresses building in the public finances and the sense that regulated, lawful betting, is a balanced alternative to under-the-table betting.
HKJC Proposal Aims to Curb Illegal Basketball Gambling
In contrast to prior reluctance, regulators are now more willing to consider regulated sports betting as a mechanism for social and economic stability. The HKJC contends that it can use basketball betting to counter the negative impacts of illegal gambling, which has grown unchecked and acceptable. In the past year, it is estimated that the amount wagered on illegal basketball betting reached nearly HK$70 billion to HK$90 billion. This unregulated activity caused a range of social issues from gambling disorders to legitimatizing criminal groups. Most importantly, the HKJC considers the proposal as more than an incremental revenue solution, but also an approach to public safety. The issue is that by regulating the betting of basketball through betting tickets, we not only add transparency but also restrict the black market as well.
Public Revenue and Social Stability Go Hand in Hand
Nevertheless, public perceptions are still not wholly positive, especially because Hong Kong has traditionally held a conservative approach to any expansion of gambling. There has been some political backing of this idea, however, viewing this very plainly as an opportunity to protect against illegal activities as well as to bolster government revenues. Conversely, there is credible concern that this attempt could end up socializing and normalizing a betting culture that also uniquely targets younger people. No matter the case, the fact that the government is now willing to hear a formal proposal from HKJC shows that the tide is perhaps starting to shift. If done so that communities can accept with appropriate regulation, strict oversight, and appropriate public awareness campaigns, legal basketball betting can be designed and delivered quite safely . It ultimately can do a lot more good than harm.
