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Jockey Club Wins Hong Kong Case

Thursday February 7,2013 : JOCKEY CLUB GETS ITS WAY IN HONG KONG
 
Six years of lobbying pays off
 
The Home Affairs Bureau in Hong Kong this week approved the two-way combining of betting pools with foreign jurisdictions, allowing overseas punters access to the larger and more attractive pools in the former British colony.
 
The system, known as commingling, would mean a boost of HK$200 million a year in revenue for the government on top of more than HK$10 billion it currently receives in duty from the Jockey Club, according to Hong Kong press assessments.
 
Racing punters in Australia, for example, can at present watch and bet on Hong Kong races, but their money goes into a small Australian pool. Under a commingling agreement, Aussie betting operators would send those bets to the much larger and more attractive pools in Hong Kong or other jurisdictions.
 
The Betting Duty (Amendment) Bill will be put to the Legislative Council in Q2-2013, with an implementation target calculated to start in time for the 2013-14 racing season in September.
 
The Hong Kong Jockey Club has been lobbying for the change for the past six years, and expects that the new arrangement will at least double the revenues it receives as part of its 3 percent fee on holdings, currently worth between HK3 andHK4 million dollars.
 
To facilitate outbound commingling, the government has accepted the Jockey Club's proposal to apply a flat betting rate at 72.5 percent on receipts of local bets on non-local races.
 
"Commingling has become an internationally adopted industry practice that enables regulated operators to work together to counter the threats posed by illegal bookmakers and junket operators," said Jockey Club spokesperson Carmen Lok Wai-man.



Gambling News :

International Table Tennis Federation in deal with Sportradar. - The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

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