Hong Kong has paused plans to introduce legal basketball betting while authorities study the potential impact of rapidly growing prediction market platforms on the gambling industry.
The move comes seven months after Hong Kong lawmakers approved legislation allowing the activity, which had been expected to launch as early as September, in time for the NBA season starting later this year. The wagering would likely be handled by the Hong Kong Jockey Club, the city’s sole legal betting operator.
Officials from the Home and Youth Affairs Bureau said the decision reflects concerns that prediction market platforms – where users trade contracts based on the outcome of events – could introduce new uncertainties into the betting landscape.
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Authorities warned that launching basketball betting under current conditions could draw more participation into illegal prediction-market gambling.
“Given the latest developments, the government considered it necessary to study the emerging model and platform in greater depth,” a spokesman for the Home and Youth Affairs Bureau said.
Prediction markets allow participants to buy and sell contracts linked to future outcomes, including sports matches, elections and economic indicators. Unlike traditional bookmakers, the platforms operate more like exchanges where prices reflect the crowd’s collective probability estimates.
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The government cited data showing the sector has expanded rapidly, with global trading volume reaching about US$64 billion in 2025, up from roughly US$16 billion in 2024.
The Hong Kong Jockey Club said it respected the government’s decision and will await further guidance on its application for a basketball betting licence.
The club has long advocated for legal basketball betting as a way to combat illegal gambling and channel demand into a regulated market. A survey commissioned by the city estimated that underground basketball betting in the city reached HK$70 billion to HK$90 billion in 2024.
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Legalising the activity could eventually generate around HK$1.5 billion in annual tax revenue, according to earlier projections. However, officials have said it may take several years for the market to reach that level.
The club said preparatory work on a new sports wagering platform is continuing, but any launch will depend on the outcome of the government’s review.
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