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Hong Kong is preparing to legalize basketball betting following strong public support, with 94% of consultation respondents in favor. The proposal would impose a 50% tax on net betting profits, aligning with current football betting rules. The Hong Kong Jockey Club is expected to be the sole licensed operator. Authorities estimate the move could redirect up to HK$90 billion in illegal wagers into the legal market, potentially generating HK$1.5 to 2 billion in tax revenue annually. To ensure responsible gambling, the plan includes strict age limits, bans on credit card use, and a prohibition on betting involving local teams.
Source: https://news.worldcasinodirectory.c...all-betting-with-50-tax-on-net-profits-118590
Source: https://news.worldcasinodirectory.c...all-betting-with-50-tax-on-net-profits-118590