Government halts basketball betting after passing relevant legislation last year
發佈日期: 2026-04-14 21:58
TVB News
The government announced the suspension of basketball betting plans after an amended Betting Duty Ordinance was passed last year. Authorities said the decision is related to the emergence of prediction markets.
In a statement on Monday, the government said the reason for suspending the plans of basketball betting is because of the prevalence of prediction markets, which could lure more residents to take part in illegal gambling.
But what are prediction markets?
Gained popularity in the US in 2024, prediction markets are platforms that allow individuals to trade shares or place bets on future events.
This platform shows that people can bet on a wide array of affairs, such as the outcome of Peru presidential election and the winner of the 2026 World Cup.
While prediction markets are not new, lawmaker Johnny Ng said individuals can place bets with cryptocurrency, making it difficult for the government to combat such activities.
He said authorities need time to review their policy amid the prevailing betting situation.
Speaking to the media on Tuesday, Secretary for Home and Youth Affairs Alice Mak said that the government is responsible by halting basketball betting.
She said authorities cannot press ahead with the plans simply because the Betting Duty Ordinance to legalise basketball betting was passed.
