The Civil Affairs and Cultural and Sports Affairs Committee of the Hong Kong Legislative Council is about to hold a meeting to discuss the proposed plan of the basketball gambling regulatory system. The Hong Kong SAR Government proposes to adopt the relevant Regulations to establish a regulatory framework for basketball gambling activities.
The content of the recommended plan for basketball betting regulation
License system:
The director of the Empowerment Bureau of Civil Affairs and Youth Affairs issues a basketball gambling license to a company and sets up licensing regulations in order to reduce the adverse impact of gambling on citizens (especially teenagers). Through license management, the main body of basketball gambling activities can be strictly audited and supervised to ensure that they operate within the framework of legal compliance, so as to reduce the harm of illegal gambling activities to society.
Taxation mechanism:
Following the calculation and collection method of the current football betting tax, 50% of the net betting fee is collected from the organiser as basketball betting tax. On the one hand, this tax arrangement can bring fiscal revenue to the government, and on the other hand, it also regulates basketball gambling activities through economic means to prevent its excessive expansion from negatively affecting society.
The background and purpose of the regulatory system
The Hong Kong SAR government has been regulating football betting since 2003, and has roughly effectively introduced the demand for illegal gambling into legal channels. Referring to the current football betting system, it is expected that the proposed basketball betting regulatory system can introduce illegal gambling demand into legal channels, which will help combat illegal basketball gambling activities. Illegal gambling activities will not only cause economic losses to individuals and families and cause social problems, but also may be associated with criminal activities. By establishing a legal regulatory framework, we can reduce the survival space of illegal gambling and maintain social stability and security. At the same time, legal gambling activities can protect citizens, especially teenagers, more effectively under supervision, and prevent them from being adversely affected by illegal gambling.
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