Gambling License Hong Kong
Whenever I walked pass the Hong Kong Jockey Club, there were a group of teenagers reading newspapers and discussing horse racing or football gambling. This phenomenon has been getting more serious over the past ten years. Teen gambling is a crucial social problem in Hong Kong. There are several factors which cause teen gambling problem and these will be elaborated in the following essay.
First of all, high accessibility of gambling activities is one of the factors that lead to teen gambling problem. According to a survey conducted by TWGHs Even Centre on 1st January 2010, the percentage of teenagers below the age of 25 who are addicted to football gambling had increased from 62% in 2008 to 82% in 2009. With the legalization of football gambling introduced in 2003, teenagers who are 18 or above can legally participate in gambling activities organized by Hong Kong Jockey Club. As Hong Kong Jockey Club betting centers are located everywhere, young people can easily gamble on football matches anytime. It will worsen the teen gambling problem in Hong Kong.
- Apart from Hong Kong and Macau, he also invested in mainland China, Portugal, North Korea where he operated a casino, Vietnam, the Philippines, Mozambique, Indonesia and East Timor. His opinions and statements on Hong Kong's real estate and commercial development had considerable sway on the market.
- Hong Kong has charities which have a goal to promoting responsible gambling practices among those who gamble and to minimizing the negative effects of problem gambling. Such charities also look for a balance between meeting the demand for gambling and maximizing the social and economic benefits of gambling for the community, while helping to.
- Gambling in Hong Kong The situation is very different in the two special administrative regions of Hong Kong and Macau, where gambling and betting are legal and regulated. Since 1977, people in Hong Kong are allowed to gamble for leisure at a limited number of authorized outlets under the Gambling Ordinance which limits excessive gambling.
As in the rest of China, there is no regulatory framework for online gambling in Hong Kong. That means it is illegal for anyone to operate an online casino in Hong Kong. However, that doesn’t mean that such sites aren’t seen here – it’s just that they are all based on foreign countries. 80% of the adult population here is said to have engaged in gambling; Most of the gambling in Hong Kong is said to occur online, although there are a lot of land based options as well, both legal.
The Internet is another way for teens to access gambling information. Some websites that provide detailed football or horse racing odds and some online advertisements that contain betting tips provide teens an opportunity to engage in betting activities. Even newspapers include a great deal of gambling data which can be easily obtained by teenagers especially those below eighteen.
Moreover, the influence of family members and peer is another reason that gives rise to the problem of teen gambling. Horse racing has a long history which makes the majority of men in Hong Kong take part in gambling activities. It is not uncommon to see a crowd of middle-aged men clustered around the Hong Kong Jockey Club on a racing day. As many teens regard their parents as role models, they will imitate what their parents do. If parents engage in gambling, teens will think that gambling is a normal activity and they will participate too. Some parents will even help their children to gamble. As time passes, the idea of gambling will become distorted in the minds of young people and hence, the number of young gamblers will increase.
Peers play an important role in influencing teenagers. Some young people want to fit into their friend’s group, so they will follow what their friends do. If they meet some youngsters who are misbehaved, the probability of them getting involved in betting will increase.
Last but not least, most teenagers think that gambling is the most effective and fastest way to gain money. In this modern society, people equate material goods with a high quality of life. Therefore, children in Hong Kong have grown up in and be influenced by this materialistic society. However, some may not have such high purchasing power and they will find ways to earn money. Thus, gambling will be the way to obtain quick money. By taking risks, people have the opportunity to double their money. Worse still, some young people will engage in illegal gambling as the odds are higher than legal betting and it is easier to access. However, illegal gambling will cause teenagers to incur a huge debt and end up in jail.
To conclude, there are many factors that lead to teen gambling. High accessibility of gambling is one of the social factors. We cannot neglect the influence of family and peers which plays a crucial role in determining whether youngsters engage in betting activities. Teenagers’ personal desire is another factor. In order to cope with this problem, we need all-rounded and long term solutions since teenagers are the future pillars of our society.
The Gambling Ordinance was enacted in 1977 to regulate gambling in Hong Kong.[1] People are allowed gamble for leisure and entertainment within these regulations at a limited number of authorized outlets. Social gambling is still allowed.
Legality[edit]
The government of Hong Kong restricts organized gambling to a few regulated outlets. The government enacted the Gambling Ordinance in 1977 to rein in excessive gambling while still providing gambling to the populace.[2] Gambling involving a bookmaker is illegal in Hong Kong.[2] Betting with a bookmaker and betting in a place other than a gambling establishment is illegal. The Hong Kong Jockey Club holds a government-granted monopoly on horse races, football matches, and lotteries. The revenue the club generates from various wagers makes it the largest taxpayer for the government.[3]
Hong Kong generates the largest horse race gambling turnover in the world. The Hong Kong Jockey Club founded in 1884, holds a monopoly on horse racing wagers, lotteries and football betting and is the largest taxpayer to the government.[3] In 2009, Hong Kong generated an average US$12.7 million in gambling turnover per race 6 times larger than its closest rival France at US$2 million while the United States only generated $250,000.[4]
During the 2014-2015 racing season the Hong Kong Jockey Club attracted about HK$138.8 million (US$17.86 million) per race more that any other track in the world. Hong Kong Jockey Club broke its own record during the 2016-2017 season with a turnover of HK$216.5 billion and paid the government HK$21.7 billion in duty and profits tax, an all-time high.[5]
Charities[edit]
Hong Kong has charities which have a goal to promoting responsible gambling practices among those who gamble and to minimizing the negative effects of problem gambling. Such charities also look for a balance between meeting the demand for gambling and maximizing the social and economic benefits of gambling for the community, while helping to minimize potential harm to individuals and the community.[2]
Recent events[edit]
During the 2010 World Cup, police arrested 25 people for having an illegal gambling ring that took bets on World Cup matches worth more than 66 million Hong Kong dollars. Earlier in the year the Hong Kong police set up a task force to help stop illegal football gambling.[6]
See also[edit]
References[edit]
- ^Deans, R. (2001). Online gambling: changes to Hong Kong's gambling legislation. Gaming Law Review., 5(6), Retrieved from http://www.liebertonline.com/doi/abs/10.1089/109218801753336166?journalCode=glrdoi:10.1089/109218801753336166
- ^ abc'Responsible gambling policy'. Hong Kong Jockey Club. Retrieved 24 May 2015.
- ^ abBalfour, Fredrick (22 February 2016). 'Hong Kong Horse Racing Is Serious Business'. Bloomberg.com. Retrieved 7 March 2018.
- ^'Hong Kong's hardcore gamblers'. CNNMoney. Retrieved 7 March 2018.
- ^Mok, Danny (1 September 2017). 'Hong Kong Jockey Club has record-breaking year'. South China Morning Post. Retrieved 7 March 2018.
- ^Hong Kong police smash illegal world cup betting ring. (2010, June 13). Asia Pacific News, Retrieved from http://www.channelnewsasia.com/stories/afp_asiapacific/view/1062884/1/.html
External links[edit]
- The Study on Hong Kong People's Participation in Gambling Activities, Hong Kong Polytechnic University, March 2012
- Tse, Samson; Yu, Alex C.H.; Rossen, Fiona; Wang, Chong-Wen (2010). 'Examination of Chinese Gambling Problems through a Socio-Historical-Cultural Perspective'. The Scientific World Journal. 10: 1694–1704. doi:10.1100/tsw.2010.167. ISSN1537-744X. OCLC48386834. PMC5763971. PMID20842314.