Illegal betting saps 10% from Hong Kong racing turnover, Jockey Club says

The betting turnover of local races has dropped by nearly 10 per cent in the past year, with the Hong Kong Jockey Club attributing the decline to increased illegal gambling and residents spending outside the city.

The city’s sole authorised gambling operator, which announced its annual results on Wednesday, also said there was a strong case to support the extension of its licence to cover betting on other sports given the “rising and major threat” of illegal gambling.

The club said it faced significant external challenges during the 2023-24 financial year, including factors such as rising competition from Macau’s casinos.

“A fundamental post-pandemic shift in consumer behaviour in favour of new digital experiences and outbound travel impacted race-going and racing wagering,” the club said.

Betting turnover for local races for the season spanning September 10 last year to this past July 14 declined by 9.3 per cent, the organisation said.