The Legislative Council passed the Betting Duty (Amendment) Bill 2025 last year, legalising basketball betting, with the original plan to launch the new product as early as September this year. However, media reports on April 13 said the government has notified the Hong Kong Jockey Club (HKJC) to suspend the implementation of basketball betting activities.
Sources said that the HKJC held a meeting with its selected members yesterday, during which it was revealed that the previously planned basketball betting launch must be suspended because the government has asked for a study on the impact of US-based prediction market platforms on basketball betting.
A spokesperson for the Home and Youth Affairs Bureau, responding to media enquiries, said that, based on the latest developments, as a responsible government, it is necessary to conduct a more in-depth study of the operation of this emerging model and platform. To protect the public interest from harm, and in the absence of mature conditions, the government should halt the advancement of new betting projects. The spokesperson stressed that if anyone in Hong Kong places bets on sports events through prediction markets, it constitutes illegal gambling.
The spokesperson added that data shows the trading volume of prediction markets reached US$64 billion in 2025, a 300% increase from US$16 billion in 2024. Monthly trading volume rose from less than US$100 million at the beginning of 2024 to over US$13 billion by the end of 2025. The rapid growth of prediction markets could introduce considerable uncertainty to the betting market.
The spokesperson emphasised that the government's longstanding policy is not to encourage gambling. Launching basketball betting under the current circumstances would likely attract more people's attention to and participation in illegal gambling on prediction markets, indirectly fuelling the illegal market.
The Hong Kong Jockey Club responded that it respects the decision of the SAR government and is willing to cooperate with the relevant work. It will await further instructions from the SAR government regarding the basketball betting licence application.
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