Hong Kong bettors already wager a huge amount on basketball with illegal sportsbooks. The Chinese SAR is reportedly considering legalising the bets to help plug a budget shortfall.
An “insider” last week told the South China Morning Post that Hong Kong’s 2024-25 budget, to be released tomorrow (26 February), may include a plan for legal wagers on basketball.
Support for legal hoops betting in Hong Kong is apparently on the rise as a way to generate tax revenue and also stamp out black-market operations.
The move would help the Chinese special administrative region (SAR) address a whopping budget deficit of more than HK$100 billion (£101.6 million/€122.5 million/$128.6 million) for the year. That’s more than twice the figure projected at the start of 2024.
PwC Hong Kong reports that the SAR government will have fiscal reserves of HK$639.8 billion at the end of March, enough to cover just 10 months of total government expenditures.
Reaping new revenue
Hong Kong bettors can alread..