Geographically speaking, the greater part of Hong Kong’s border is nothing more than sea and steep hills which land straight into its waters. Along with its islands and peninsulas, it still has a land-locked border with China that may provide the only difference in scenery.
Overview
Despite its seemingly secluded position, Hong Kong has actually come a long way towards becoming one of the world’s modern nations. Keeping up with the world’s tech advances, it was only natural for the country to eventually identify the profitable gambling industry as a positive business opportunity.
Thus, legislators set up the proper policies and soon afterwards managed to legalize specific forms of land-based and online gambling to the country’s best advantage.
More specifically, the Hong Kong Jockey Club was awarded the sole license to operate as a brick-and-mortar sportsbook, horserace betting and lottery establishment. Additionally, the same operator was authorized to provide interactive gambling services, holding the status of a monopoly to this day.
... has been restricted specifically within the boundaries of tourist cruise ships sailing in international waters.
Alternatively, online casino games...
... are solely available through the range of offshore interactive operators that accept players from this jurisdiction.
Ultimately, poker has also been permitted as a private gambling activity in personal locals, as long as it is considered a sport and an entertainment form rather than a risk to players’ funds. Mahjong clubs are the final form of gambling available at land-based locals, which still leaves Hong Kong residents with a wide range of licensed onshore-operated gambling options.
Bear in mind, the gambling age for participation in said activities is 18 or more.
Taxes have been regulated additionally, under the Betting Duty Amendment Bill in 2006. It imposed a tax on horserace betting – it started at 72.5% of net stakes amounting to the first HK$ 11 billion. Afterwards, it is said to increase by 0.5% for each additional billion up to the cap of 75%. A lower rate, set at 50% is imposed on sports betting, or more precisely football as the only permitted variant. Lottery games are subject to 25% taxes, and cash sweeps – 30% on turnover.
Licensing
Some work needs to be done in the area of licensing, in order to allow more operators to enter the market. So far, the sole operator – HKJC provides sports, horse race and lottery gambling both in actual facilities and online.
These legal gambling forms are definitely praiseworthy, but need to be constantly improved, in this case with the addition of legal online casino games to beat the offshore operators who get the fruit of the works without paying the country.
Other than expansion through licensing separate operators, the Hong Kong gambling industry has also encouraged inter-state cooperation. In 2015, they set up a strategic partnership with the Chinese Equestrian Association in order to promote conditions for horse breeding and racing in China. About a year later, they also partnered with UK-oriented betting platforms in order to provide UK-based bettors a chance to try their luck at the Hong Kong pari-mutuel tote pools.
All in all, the operative license used so far is more than enough to set up some gambling industry structure; further development would only add to variety, and thus player satisfaction.
Player Protection
Protection is undoubtedly a key aspect of the whole concept of player satisfaction. For optimal results, the Hong Kong government has appointed the Home Affairs Bureau as the specific body in charge of regulating the industry. Players’ rights are properly addressed and protected within the licensed gambling operators.
Should the HKJC pass on its monopoly status in favour of a more diverse industry, and legislation add casino gameplay to the list of permitted services, a need for a more dedicated approach could arise.
Further Reading
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