|Hong Kong bettors are awaiting new legislation that would make soccer betting legal and regulated. Currently, soccer betting, which is wildly popular, takes place either through illegal bookmakers or online. Millions are spent each year Internet and black market wagering over, which the Hong Kong has, no control and no share of the revenue. |
But besides providing the Hong Kong government with millions of dollars of wagering revenue, it will help the government get rid the crime syndicates that control black market betting. It is also hoped that by cutting off black market betting, crime syndicates in Hong Kong will be starved of the cash that gives them their power to fund other illegal activity.
This new legislation looks likely to take Hong Kong’s gambling monopoly away from the Hong Kong Jockey Club, which now takes bets on Horse Racing and numbers games.