The only legal sports betting operation in the special administrative region of Hong Kong, the Hong Kong Jockey Club (HKJC), will likely be subject to an increased football betting duty, a new report released by the Club reveals
The announcement comes after the Hong Kong Special Administrative Region Government announced a proposed 2023-24 Budget. Within that proposal, a Special Football Betting Duty (SFBD) is established. The duty, which is effectively a charge on all bets for football, is expected to deliver HK$12 billion ($1.53 billion) in proceeds over the next five years. A breakdown of this total estimates that approximately HK$2.4 billion ($305.9 million) will be payable by the HKJC annually starting from the 2023-2024 financial year through the 2027-2028 financial year.
The announcement comes after the Hong Kong Special Administrative Region Government announced a proposed 2023-24 Budget. Within that proposal, a Special Football Betting Duty (SFBD) is established. The duty, which is effectively a charge on all bets for football, is expected to deliver HK$12 billion ($1.53 billion) in proceeds over the next five years. A breakdown of this total estimates that approximately HK$2.4 billion ($305.9 million) will be payable by the HKJC annually starting from the 2023-2024 financial year through the 2027-2028 financial year.