Hong Kong Proposes 50% Basketball Betting Duty on Organizers

Hong Kong’s Home and Youth Affairs Bureau has submitted a document to the city’s Legislative Council proposing the enactment of a regulatory framework for basketball betting after a one-month consultation.

• Proposed framework involves:
  • Levying a 50% tax on net betting turnover for basketball betting from the organizers, modeling on the existing regime for football betting
  • Granting the Secretary for Home and Youth Affairs the authority to issue basketball betting licenses to specific companies and set licensing restrictions
• The Panel on Home Affairs, Culture and Sports will discuss the proposal on June 9
• NOTE: HK Launches Consultation on Regulation of ...