There were reports of countries implementing a total ban on gambling without consideration of the outcome of the ban after gambling had been part of their society for decades.
But this news is very different; in Hong Kong, they are moving to legalize basketball betting in an effort to combat illegal betting. This is due to the massive amount of money involved and the projected huge taxes that should go to the government's coffers.
Do you think it's impossible to stop people from betting legally or illegally if gambling has become a part of their culture
What do you think of the move good or bad
The illegal basketball betting market in Hong Kong has seen significant growth, with the Hong Kong Jockey Club estimating the market turnover for illicit bets to be between HK$70 billion and HK$90 billion in 2024. This illegal market involves approximately 430,000 residents participating in unregulated betting, prompting the government’s move to establish a controlled environment for betting enthusiasts.
Hong Kong Legalizes Basketball Betting in Effort to Combat Illegal Gambling