Hong Kong Officials Extend Gambling Days to harvest Extra Revenue

Live horse racing in Hong Kong could be allowed five extra days this year, giving residents a couple of more paltry opportunities to enjoy gambling under the government's watchful eye.

Governments around the globe may protest that actions are all about citizens' rights and protections, but it surely sometimes seems that the one thing that spurs prompt response is a possible lack of funding. The federal government in Hong Kong has granted permission for horse race track operators so as to add five days to the live racing calendar, so that you could replace revenues lost to the recession.

Like many state, local, or even the government within the US, debate rarely seems to involve the need of the people, the philosophy of whether gambling is a freedom or a scourge, or the duty of presidency to extricate itself from the minutiae of individual existence. Rather, every discussion of gambling concerns what quantity of money might be dropped at government coffers, and what costs will the federal government bear.

Apparently, halfway across the world, things are the similar. The Hong Kong Jockey Club, which together with a state lottery are the one legal venues for gambling within the city, may now run races on five extra days and add fifteen simulcast days to their schedule.

The government made the move after revenue from racing declined last year, off $110 million to drop to $8.6 billion. The racing season had totalled 78 days, but will now be 83.

Hong Kong does allow sports betting on soccer, but again the Jockey Club is the one institution allowed to provide the betting.

Published on July 5, 2009 by PrestonLewis

Read More... [Source: Horse Racing News]