The Hong Kong Jockey Club (HKJC) has reported record high sports betting for the financial year ending 30 June. The club announced that total wagering and lottery turnover was up 5 percent year-on-year to HK$320.26 billion ($41.08 billion). The results were unveiled following the Club’s annual general meeting on 29 August.
Local wagering sees solid growth, football betting record high
Of the total wagers, local customer betting rose 4.6 percent year-on-year to HK$286.52 billion ($36.75 billion). Within that, horse racing remained the largest driver, with local bettors wagering HK$104.84 billion ($13.45 billion), reflecting a modest 1 percent increase. In contrast, horse race betting revenue for the club slipped slightly to HK$17.73 billion ($2.27 billion).
Football betting continued its upward trajectory, setting a new record turnover of HK$172.82 billion ($22.17 billion), a 7.83 percent increase compared to the previous year. The surge comes on the back of HKJC’s football betting revenue reaching HK$21.85 billion ($2.8 billion), up 3.68 percent year-on-year. The Club credited strong engagement during major international competitions and enhanced digital betting channels for the record figures.
The Mark Six lottery also performed strongly, with wagers climbing 5 percent to HK$8.99 billion ($1.15 billion). Revenue from the lottery rose in tandem, reaching HK$4.13 billion ($530 million), up 5.05 percent year-on-year.
In total, HKJC reported HK$43.75 billion ($5.61 billion) in betting and lottery revenue, representing a 1.4 percent increase. Moreover, 73 percent of the Club’s revenue is returned to Hong Kong, underlining its role as one of the SAR’s key social contributors.
Basketball betting on the horizon
Looking forward, the Club is preparing for the potential legalisation of basketball betting in Hong Kong. The government is in the process of amending the Betting Duty Ordinance, which would designate HKJC as the sole operator, mirroring its exclusive licence for football betting. The Secretary for Home and Youth Affairs, Alice Mak, confirmed that the government’s proposal to regulate basketball betting is designed primarily to combat illegal gambling, not to generate tax revenue.
Speaking following the release of the Betting Duty (Amendment) Bill 2025, Mak emphasised that “taxation is certainly not our concern,” and clarified that the initiative aims to provide a safe, legal alternative to widespread underground betting operations.
HKJC CEO Winfried Engelbrecht-Bresges said, “With the necessary amendments to the Betting Duty Ordinance in progress, we look forward to providing the service as directed. Given our proven experience launching football betting in 2003 and the efficiency of our single licence operating model, we believe we are well placed to provide the service.”
Legislative approval could come as early as October, paving the way for HKJC to roll out regulated basketball betting.
Strong revenue potential
Engelbrecht-Bresges added, “Should regulated basketball betting receive legislative assent we will need to make a substantial up-front investment in basketball betting systems and customer experience, which will take multiple years to fully recover.”
Current projections show that authorised basketball betting could generate HK$28 billion (US$3.57 billion) in annual turnover, with the betting duty set at 50 percent of net stake receipts. If approved, basketball would become the third major vertical under HKJC’s monopoly, alongside horse racing and football, potentially reshaping the betting landscape in Hong Kong.
Leadership and racecourse development
The Club also confirmed leadership changes. Martin Liao has been appointed as Chairman, succeeding Michael T. H. Lee, who stepped down after 19 years of service, including three as Chairman. Lester Huang has been named Deputy Chairman. This comes shortly after the HKJC announced the appointment of Sarena Lin as Chief Transformation Officer (CTO), effective 25 August. In her new role, Lin will be a member of the Board of Management and will report directly to Engelbrecht-Bresges.
Meanwhile, the HKJC unveiled the next phase of its HK$14 billion racecourse master plan on 2 September. The new facilities at Sha Tin—Champions Connection and Genso Eki—are designed to modernise the race-going experience with digital entertainment aimed at younger audiences. Racing fans will be able to experience the upgrades when the 2025–26 season kicks off at Sha Tin later this week.
