The Hong Kong government, which is currently facing a budget deficit of HK$100 billion (about 18.35 trillion won), is considering legalizing basketball betting as a way to increase revenue. Currently, the only sports betting legally allowed in Hong Kong is horse racing and football, and the tax rates are up to 75% and 50%, respectively. However, some Hong Kongers are using private sports betting sites, and the number is estimated to be around 100,000 to 150,000. In particular, 15% of them are found to be betting on basketball games. Understanding this background, the Hong Kong government has begun to seriously discuss legalizing basketball betting as a measure to solve the national budget deficit.

According to the South China Morning Post (SCMP) in Hong Kong on the 27th, Financial Secretary Paul Chan Chan announced his position on reviewing the legalization of basketball betting while announcing the 2025/26 budget, emphasizing that this is a measure to prevent illegal betting. He also emphasized that illegal basketball betting revenue last year amounted to HK$70-90 billion, and said that Hong Kong Sports Toto Platform If basketball betting is legalized in the country, it explained that a maximum tax rate of 50% could be applied. It is expected that the additional revenue that can be obtained through this will be up to 2 billion Hong Kong dollars (about 370 billion won). Meanwhile, reporter Lee Ho-jin analyzed that "access to sports betting sites is increasing due to the development of Internet technology." Accordingly, the possibility is being raised that the online spread of sports betting will also affect discussions on legislation.

In fact, this is not the first time that this proposal has been made. Last year around this time, several political parties called for its introduction, arguing that legalizing basketball betting would actually reduce illegal betting activities. However, Chief Executive Paul Chan rejected it at the time, stating that further legalization of sports betting for the purpose of increasing government revenue was a concern. Meanwhile, Hong Kong is currently facing a serious fiscal deficit, so appropriate measures are needed to address it. Including the legalization of basketball betting, the Hong Kong government aims to have 10,000 betting users by April 2027.Cut civil servants and freeze salaries. We have decided to continue to pursue various spending reduction efforts, targeting a 7% reduction in cumulative public spending by the fiscal year ending March 2028. In announcing the budget, Finance Minister Paul Chan reiterated his commitment to setting a firm path to restore fiscal balance, while at the same time artificial intelligence. We decided to increase our investment in the field.

In Korea, sports betting is allowed with restrictions. The popularity of sports toto, the only legal betting, is limited to certain game seasons or super bowl. You can feel it whenever there is a large-scale event like this, and you can participate healthily with a small amount of 100 won. Since it is managed and operated by the government, its legality is guaranteed, and some of the proceeds are used for the promotion of national sports and national public service.. It is used for support. The sports Toto business was started in 2001 to successfully host the Korea-Japan World Cup and to develop domestic sports, and it has been in operation for 24 years this year. You can bet on various sports such as soccer, baseball, basketball, volleyball, and golf, and it has a different characteristic from general lotteries because it is a method of predicting results by analyzing teams, players, and game strategies rather than simple luck.

Currently, the maximum purchase limit on the official online sports Toto sales site is 50,000 won, and at Toto sales outlets located nationwide, it is limited to 100,000 won. In addition, live sports. While watching, it provides various sports Toto product information along with data such as team and player records, average scores/losses, and opponent records for the target sport, allowing users to compare and analyze records in detail. In addition, the latest version of the game and analysis information plays an important role in enjoying sports betting in a healthy way, and the site has user protection programs such as self-diagnosis evaluations for immersion tests and self-rests that can restrict site access for a certain period of time.Industry officials expressed their will to provide the best service so that sports betting, the only legal form in the country, can be enjoyed more enjoyably and safely in the future.