Bets on Hong Kong horse racing in the USA

Posted on Saturday, June 30th, 2007

Bets on Hong Kong horse racing races will be accepted in the USA, the Home Affairs Bureau says.

The approval, effective for five years and subject to the validity of the horse race betting licence granted to the Hong Kong Jockey Club Horse Race Betting, is made in accordance with an Agreement for Telecast & Placing of Bets on Horse Races relating to a one-way arrangement between the club and Las Vegas Dissemination. Bets can be placed on the club’s hose races at authorised betting locations in the USA.

Horse Betting duty is charged on net stake receipts, or gross profits. A discount is allowed if the club accepts qualified bets outside Hong Kong within a charging period. In the case of the US, the betting duty discount will be half of the lowest marginal duty rate.

The bureau said the acceptance of qualified bets will benefit Hong Kong horse racing in terms of additional betting duty receivable. But the approval does not authorise Las Vegas Dissemination to accept bets in Hong Kong. Nor does it authorise any people in Hong Kong to place bets with any bookmaker outside Hong Kong, including Las Vegas Dissemination.

"Bets on Hong Kong horse racing in the USA" was posted on Saturday, June 30th, 2007 at 1:25 pm and is filed under Asia Horse Racing, USA Horse Racing. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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