HONG KONG BETTING PROPOSAL
SCRUTINIZED
HONG KONG – As reported by the Associated Press: “Education groups
Wednesday criticized Hong Kong's proposal to legalize betting on soccer matches
- which the government hopes will curb illegal bookmakers and boost tax
revenues.
“`Gambling causes bankruptcies,’ said Tang Siu-hung, an official from a
union that represents school principals.
“…The government has said its gambling proposal would raise an estimated
1.5 billion Hong Kong dollars (US$192.3 million) a year in extra tax revenue,
some of which would be donated to a fund to raise public awareness about
gambling addiction.
“But opponents warned in a legislative hearing Wednesday that the measure
would attract youngsters to gambling on soccer - a popular sport among Hong Kong
students.
“…Many Hong Kong people are enthusiastic gamblers, though their legal
options for betting at home are limited.
“Thousands flock to the casinos in nearby Macau, while others place wagers
on the two forms of betting permitted in Hong Kong - local horse races and a
numbers-game lottery. Both are operated as monopolies by The Hong Kong Jockey
Club, a non-profit charity that would end up handling the soccer betting…”
