HK has not become mad about legal soccer bets
When the government introduced legalised soccer betting last August, it was taking a gamble. The move came in the face of strong opposition from the anti-betting lobby, and there were doubts about how successful the scheme would be. Six months on, while many questions remain, the gamble looks to be paying off - although this may not be immediately apparent.
Concerns have been expressed that underage gambling has become more prevalent since betting on European football matches was legalised. Illegal bookmakers appear to be flourishing, despite the competition now provided by the Jockey Club. And even the punters have not always been happy, complaining that the soccer bets are not attractive enough. However, legalising soccer betting was a logical step to take. The gambling was going on anyway, despite efforts by law enforcement agencies to stop it. Better, then, to provide a means of regulating the activity and to divert some of the money to the Jockey Club and then on to charitable causes. This is what has been happening over the past six months.
The club still has to disclose figures which will reveal the extent to which Hong Kong people have embraced this new form of betting, although some estimates suggest about $300 million a week is being wagered. A clearer picture may emerge in March when it has to file its tax figures. But the indications are that the club has at least gained a modest foothold in the market.
One of the biggest criticisms of the scheme is that it has failed in its declared aim to combat illegal gambling. It has even been argued that publicity given to legal betting has only succeeded in boosting business for the illicit bookmakers. This is difficult to substantiate. Certainly, the underground gambling syndicates have not gone away. But that was never going to be the case. At least now those inclined to gamble on football have a legitimate, highly regulated means of doing so - one where credit is not available and only adults can take part. And it is still early days.
The Jockey Club always faced an uphill task in its battle to defeat the illegal bookmakers. It is constrained by having to pursue two contrasting aims at the same time. It wants to offer a competitive service to maximise its takings and steal custom from the syndicates. Yet it must tread carefully so as not to be accused of promoting gambling. This leads to a half-hearted approach in which it cannot be seen to be trying too hard to attract customers. But with the recent introduction of more varied and exotic bets - which are particularly popular in Hong Kong - the legal betting options are at least becoming more attractive. This, in turn, leads us back to the moral issue and the need to guard against the social ills associated with gambling.
These are problems which cannot simply be laid at the door of the Jockey Club. Gambling would exist even without legal avenues through which to pursue it. It is a problem for society. The introduction of soccer gambling has prompted initiatives aimed at increasing awareness, particularly among the young, of the dangers of gambling while also providing help and support to those who are addicted. The Jockey Club has contributed $24 million to such initiatives. Counselling centres, hotlines, websites and educational guidelines have been put in place.
The Jockey Club has gone about promoting soccer betting in a responsible, rather low-profile manner. Betting activities have largely been restricted to its gambling centres, and society - while showing interest - has not gone football-gambling mad. The rights and wrongs will continue to be debated. But the reasons for legalising soccer betting remain sound, and it is likely to be here to stay.
