Opinion | Legalise basketball betting but ensure young Hongkongers don’t lose
One area where Hong Kong can elevate governance standards is by mandating disclosure of basketball betting patterns among young adults
The consultation, which ends on May 2, comes at a time when illegal basketball betting has reached an alarming HK$90 billion in annual turnover. While legalising gambling on basketball could generate HK$2 billion in revenue, this consultation should open a much-needed dialogue on gambling.
In the intervening years, digital technology, the financial system and societal attitudes toward corporate responsibility and sustainability have evolved dramatically, while our gambling regulations have remained largely unchanged.
The government’s proposal to model basketball betting regulation on the existing football betting regime may provide consistency, but it also risks perpetuating outdated governance structures that fail to reflect contemporary standards on corporate accountability.