The proposed bill, unveiled by the Government last year, will make it illegal for offshore operators to take or receive bets from Hong Kong punters - by giving it so-called extra-territorial provisions.

But the ordinance has been stalled at the Bills Committee stage for nearly five months now, with no clear signs of the swift progress the club wanted. Lawmakers say the proposed curb on overseas bookmaking is related to the issue of football betting and have threatened to stall the bill if the Government does not make clear if the ban on soccer betting will be lifted.

Committee chairman Andrew Cheng Kar-foo has repeatedly raised question marks over the future of the amendments, which he believes are deeply flawed.

Critics believe that the Government will only be able to target small punters, while the big gambling operators remain untouchable abroad.

But one senior club official told the Sunday Morning Post: 'It will be anarchy if this bill does not go through.

'Forget about football gambling, because what you will get will be people gambling on basketball, baseball, everything.'

He believes that unless enforcement is swift and effective, it will signal 'open season' for illegal operators targeting Hong Kong.

'These people will not get the message unless, and until, this bill is passed. The whole point is its extra-territorial element, that wherever you are operating, if it is not authorised in Hong Kong, it is still illegal. Without this there is effectively no law and no enforcement.

'Outlets will start opening in Lan Kwai Fong the moment the bill is pronounced dead. They are already operating covertly there.'

Experts believe the Jockey Club is likely to be granted the concession if and when the Government decides to legalise football gambling.

But the club source shrugged off such speculation, saying: 'The illegal operators can see what is happening. They are not blind.

'When the police raided the Macau Jockey Club offices, they turned round to the Government and said that they needed an extra-territorial element to the law. The law had to make it clear that wherever the bet was made it was illegal.

'If this bill is not passed, how does that leave the existing ordinance?

'It means that illegal operators could open up in Hong Kong and say to the police, 'We will see you in court'. They know that with a smart barrister they will win.'

But the anger was not only directed at Legco. The Jockey Club believes the Government has a lot to answer for as well.

The source said: 'These gambling operators are advertising everywhere, in newspapers and on the sides of buses.

'But look at the proposed bill. It only bans TV and radio ads. What good is that? What is the Government afraid of?'

Democrat legislator Andrew Cheng Kar-foo, however, was sceptical.

He said: 'The Jockey Club is concerned its interests are being attacked and eroded by the Macau Jockey Club.

'We are not only focused on these vested interests. We have to look at wider issues of what is best for Hong Kong, and this will take time.'