A Covid-19-induced perfect storm has seen the Jockey Club’s turnover on football betting eclipse the amount wagered on racing for the first time during its 2020-21 financial year.

In the annual report released after its annual general meeting on Tuesday, the Jockey Club confirmed punters wagered HK$140.2 billion on football matches compared to HK$136.1 billion on racing.

It marks a stark contrast to the previous year, where the Jockey Club lost the ability to offer betting on 3,273 matches worldwide due to the pandemic as turnover on football dropped 18.8 per cent to HK$92.6 billion.

With leagues across the globe forced to postpone matches, the likes of the Premier League, La Liga and Serie A saw their 2019-20 seasons drag on much longer than usual and spill past June 30 and into the Jockey Club’s 2020-21 financial year.

Euro 2020 and Copa America 2020 – both held in 2021 – also boosted figures, creating what the Jockey Club labelled an “unusual situation unlikely to recur”.

Jockey Club posts record HK$136.3 billion in turnover

Racing reached new heights all the same, with the HK$136.1 billion in turnover a record mark after a 12.5 per cent increase year on year.

Racing betting duty returned to the government for the year was up 13.7 per cent to HK$13.7 billion.

The overall turnover for 2020-21 was a record HK$279.7 billion, with the Mark Six lottery contributing HK$3.4 billion after it was suspended during the early months of the financial year.

Overall the Jockey Club contributed a record HK$24.9 billion to the government in duty, profits tax and Lotteries Fund contributions, as well as HK$4.5 billion in approved charity donations – with the latter figure just shy of matching last year’s record high.

“I would like to express my sincere thanks to all the club’s employees for their outstanding contribution during this most challenging year,” said Jockey Club chief executive Winfried Engelbrecht-Bresges.

“My special thanks also to trainers, jockeys, stables and transport staff and everyone else in the racing community, many of whom have made a great personal sacrifice. I also really appreciate the support of racing fans in these difficult times.”