The Executive Council's endorsement of plans to legalise betting on soccer games is the soundest of decisions. The move tackles three growing problems in one fell swoop - shrinking government finances, illegal gambling and most importantly, the worsening social environment.
There will always be objections to proposals endorsing gambling. But there was no serious contest in the decision made yesterday.
The reality is that governments worldwide are increasingly dependent on gambling revenues to subsidise their operation. In Hong Kong's case, the Jockey Club diverts a large percentage of its profits to funding much-needed social welfare programmes. This has become even more necessary now that the government has a budgetary deficit and economic stagnation has led to unfamiliarly high unemployment levels.
Hong Kong has not been immune from the soccer fever sweeping Asia. The World Cup in South Korea and Japan five months ago highlighted the massive financial opportunities.
Unfortunately, the SAR scored an own goal on the cup. It ignored the potential benefits from legal betting, and tried in vain to beat the massive upsurge in illegal soccer gambling and betting over the Internet.
Police will never be able to completely stamp out the involvement of triads in gambling. They will always fight a losing battle, especially when gambling on a sport as popular as soccer is legally unavailable here, yet thriving and above-board elsewhere. If legalised, soccer betting will make the people of Hong Kong, and not triad syndicates, the winners.
