Wondering about the legality of betting in Hong Kong? Well, you’ve come to the right place. In this Hong Kong betting guide, we touch upon betting laws, the best Hong Kong betting sites, and other useful information such as banking methods and tips.
- Best Betting Sites We Recommend for Betting in Hong Kong
- Top Hong Kong Betting Sites – Ranked
- Is Online Betting Legal in Hong Kong?
- Choosing a Good Betting Site in Hong Kong
- Banking Methods for Hong Kong Players
- Which Sports Are Popular in Hong Kong?
- Other Country Betting Guides - Click Each Flag To Learn More
- Best Hong Kong Betting Sites FAQs
- ThePuntersPage Final Say
Top Hong Kong Betting Sites – Ranked
Is Online Betting Legal in Hong Kong?
Under the current law, punters can only bet online through the Hong Kong Jockey’s Club, a non-profit organisation that holds a government-granted monopoly on all gambling activities. It is the largest taxpayer in Hong Kong, and donates billions of HKD to the community on a yearly basis.
Currently, it is illegal for any offshore companies to offer their services in Hong Kong and for players to wager with them. Representatives from illegal betting companies could face a maximum penalty of HK$5 million (~ £496,000) and imprisonment of up to 7 years, while players who participate in illegal gambling are subject to a maximum fine of HK$30,000 (~ £3,000) and prison time of up to 9 months. Unsurprisingly, most – but not all – leading bookies play it safe, and don’t allow players from Hong Kong to register.
Despite these stern laws, tens of thousands of Hongkongers still flock to offshore betting sites in search of greater betting odds, wider markets, and more generous promotions. It is estimated that a mammoth HK$12 billion (~ £1,190,399,264) flows through the illegal betting market per annum, with offshore bookmakers playing a substantial role in this figure. Clearly then, the Hong Kong authorities haven’t succeeded in blocking these sites from penetrating the market.
Choosing a Good Betting Site in Hong Kong
If you do decide to take the offshore bookmaker route, keep in mind that this comes with a set of risks. Aside from the fact that you’ll be breaking the law, any online sportsbook you visit will be unregulated and unlicensed by the Hong Kong authorities. This means that it’s especially important you sign up with an operator with a proven track record of security and reliability.
We ensure that every bookie we recommend holds a remote operating licence from the UK Gambling Commission, which regulates the industry. Licences from other organisations, such as the The Malta Gaming Authority and The Gibraltar Regulatory Authority, are also good indications that a bookmaker won't take you for a ride and can be trusted. We also suggest looking at bookmaker reviews from multiple sources to get an insight into how an operator treats its players.
Hong Kong Betting Tips to Remember
- Using a bookie that offers the Hong Kong Dollar (HKD) – such as 1xBet and 22bet – will protect you from exchange rate fluctuations.
- Always search for a sportsbook with competitive odds to ensure you’re getting value for your money. Calculate the odds overround to do this.
- Winnings are not currently subject to income tax in Hong Kong.
Banking Methods for Hong Kong Players
There are numerous ways for Hong Kong residents to transfer money in and out of their betting accounts. Credit cards are as popular here as anywhere else, with multinational corporations like VISA, MasterCard and UnionPay being offered by several bookies.
E-wallets are also widely popular in this part of the world, with the most popular ones being Alipay, a mobile payment method, and MyCard Wallet, allowing users to make quick, secure payments online. Other international names such as PayPal, Neteller, Skrill, and some cryptocurrencies are also available. Of course, these payment methods will differ according to the website, as will withdrawal times.
Which Sports Are Popular in Hong Kong?
Horse racing is immensely popular in Hong Kong, with reports stating that it generates the largest racing gambling turnover in the world. Other sports, including football, basketball and esports, also attract huge numbers of Hong Kong followers and punters alike.
Best Hong Kong Betting Sites FAQs
Currently, punters can only legally bet through the Hong Kong Jockey Club, a non-profit organisation that holds a monopoly over the gambling sector.
It is illegal for gambling companies to offer their services to players in Hong Kong, and for players to gamble with these companies. However, hundreds of thousands of Hongkongers still gamble online using offshore betting sites.
ThePuntersPage Final Say
Betting abroad can often be more complex than punters initially think. This is the case in Hong Kong, where there are a set of risks that you need to be wary of. We’re not here to tell you whether you should or shouldn’t bet, but if you decide to, what we will do is advise you to do it safely and smartly. In places like these, where the online gambling market is unregulated, you can’t just sign up willy-nilly and hope for the best. Do the necessary research to ensure a safe and secure gambling experience.
Looking to bet somewhere new? Check out our detailed regulations guide to betting in different countries.