Hong Kong launches public consultation on basketball betting legalization

The Hong Kong government has initiated a public consultation on the legalization of basketball betting, aiming to regulate this activity to combat illegal gambling and generate additional revenue. The proposed framework would mirror existing regulations for football betting and restrict bets on local matches to protect the integrity of the sport. Financial Secretary Paul Chan suggested that legalized basketball betting could contribute over HK$2 billion annually to the government's finances, addressing the city's significant deficit. A leading think tank has proposed that a portion of this revenue be allocated for sports development and support for gambling addiction services. The consultation will consider public feedback until May 2, 2025, as the government seeks to establish a regulated betting environment. The initiative follows concerns about the growth of unlicensed basketball betting, which reportedly reached up to HK$90 billion in 2024.