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New HK Betting Duty System

Wednesday, 30th August 2006

Meanwhile in Hong Kong, following the HK Legislative Council's endorsement of the Betting Duty Bill, the HK Jockey Club announced that "starting from the 2006-07 racing season, betting duty for horse race betting will be imposed on gross profit or net stake receipts (that is, after dividends for winning bets & rebates have been taken out of the betting pool) instead of on turnover". HKJC executive director for betting Henry Chan emphasised the new betting system will provide more flexibility to combat illegal gambling effectively: "It will enable the Club to recapture a share of the illegal betting market & thereby protect Government revenue & maintain the Club's current level of support for charities & the needy." Chan also announced the introduction of a new Rebate Programme from the start of the 2006-07 racing season, noting: "By combating the discount offers made by illegal bookmakers, we believe the Rebate Programme will effectively attract those customers targeted by the illegal market. The Rebate will apply to bets in the Win, Place, Quinella or Quinella Place betting pools for all local races: any losing ticket with a total losing bet amount of HK$10,000 (A$1,700) or above in those pools will be eligible to receive a rebate of 10% of the total losing bet amount.

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