According to local Hong Kong media, basketball betting is not expected to be launched until September 2026 at the earliest due to the need to set up a legal framework and a betting system.
Hong Kong’s Financial Secretary Paul Chan said in last week’s budget speech that the government would explore the possibility of legalizing basketball betting and invited the Hong Kong Jockey Club (HKJC) to discuss the matter. The Hong Kong Jockey Club replied on the same day that it would prepare a comprehensive proposal to present to the government.
After the news was announced, some Hong Kong media quoted sources stating that if basketball betting is implemented, it is expected to be modeled on the current legal framework of football betting and will likely be scrutinized by the Legislative Council and passed within this year.
However, those same sources added it would take time for the HKJC to develop a system on basketball betting, meaning it will probably only be launched in September next year to tie in with the start of the 2026/2027 NBA season.
It has been suggested that basketball betting will not be accepted in retail betting stores, restricted to online options such as on the HKJC’s website and mobile app. Betting on local Hong Kong basketball will also remain banned.
The hope is that allowing betting on basketball will help combat the illegal trade with the HKJC estimating black market betting on the popular sport amounted to between HK$70 billion and HK$90 billion (US$9.0 billion to US$11.6 billion) in 2024 alone. It is conservatively estimated that legalized basketball betting will generate annual tax revenue of HK$1.5 billion for Hong Kong.
RelatedPosts
