Hong Kong pauses basketball betting plans amid concerns over prediction markets

Authorities have put regulated basketball betting on hold amid enforcement concerns related to the growth of predictions markets.

Hong Kong.- The Home and Youth Affairs Bureau has confirmed the suspension of the rollout of legal basketball betting in Hong Kong due to concerns over the growth of prediction markets and their potential impact on illegal gambling. Expected to launch as early as September for the 2026–27 basketball season, the launch of regulated betting is now on hold while the government evaluates the regulatory implications.

Amendments to Hong Kong’s betting legislation to regulate basketball betting were designed to curb illegal betting and generate additional public revenue, with the Hong Kong Jockey Club to serve as the only licensed operator, similar to its role in football betting and horse racing.

However, officials said prediction markets, which allow users to trade on the outcomes of future events, could complicate enforcement efforts. The bureau expressed concern that introducing regulated basketball betting could inadvertently increase public awareness of unregulated options and undermine efforts to combat illegal gambling.

“Given these latest developments, as a responsible government, it is necessary to conduct a more in-depth study into the operations of these emerging models and platforms,” the statement says.

The bureau said that the volume of transactions via prediction markets reached US$64bn last year, a three-fold increase from 2024, and the volume is expected to increase fivefold by 2030, with 40 per cent of bets related to sports.

It said authorities would continue to monitor developments in prediction markets and assess whether additional regulatory measures are required before proceeding with the launch of regulated basketball betting, but no timeline has been provided.

The HKJC said it respected the government’s decision and will cooperate, pending further instructions. The club has estimated that, once the market matures, annual turnover from authorised basketball betting could reach HK$28bn (US$3.57bn), generating around HK$1.5bn (US$191m) in tax each year.

A survey conducted by the government found that 94 per cent of 1,063 respondents were in favour of legalising betting on basketball, while only 3.4 per cent were opposed.

Authorities warned that betting through unauthorised prediction platforms remains illegal in Hong Kong.

See also:

See also: Malaysia plans bill to combat illegal gambling

Authorities have put regulated basketball betting on hold amid enforcement concerns related to the growth of predictions markets. Hong Kong.- The Home and Youth Affairs Bureau has confirmed the suspension of the rollout of legal basketball betting in Hong Kong due to concerns over the growth of prediction markets and their potential impact on illegal…