Online Gambling Hong Kong
In addition to Macau, Hong Kong is one of the two special administrative regions of China. This autonomous territory is located in the southeastern corner of China and has a population of more than 7.3 million people. Hong Kong is famous for its impressive skyline, the enormous Big Buddha and many food joints.
It is one of the four most densely populated sovereign states on the globe, and its area covers 1,106 km2. The New Territories, Kowloon Peninsula and Hong Kong Island are the three main areas, while Hong Kong encompasses 263 islands. Macau, China’s other special administrative region, is only 60 km away.
According to recent studies, more than 80 percent of Hong Kong’s adult population enjoys games of luck every now and then although most forms are not permitted. However, a couple of cruise ships offer casino games, while betting on soccer games and horse races is also legal in Hong Kong. There are no Hong Kong-licensed online casinos, but that doesn’t stop locals from playing at offshore gaming sites. Indeed, online casino gambling is a big hit among Hong Kong Chinese.
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Best Hong Kong online casinos
Hong Kongers with a weak spot for online gambling can choose from many options as both Chinese and English are the official languages in the special administrative region of China. It goes without saying that many online casinos are available in English, while an increasing number of gaming sites also offer the Chinese language.
The following virtual casinos are extremely popular amongst gamblers from all over the world, which is definitely for a reason:
Popularity online casinos in Hong Kong explained
The service-oriented economy of Hong Kong is known as one of the leading financial hubs on the globe due to the high concentration of banking institutions. Besides its low tax rates, the free trade police is another reason why it’s one of the world’s freest economies.
After a 4.8 percent expansion in 2011, Hong Kong’s growth moderated to 1.7 percent in the next year. In 2013 however, its gross domestic product (GDP) rose 3.1 percent, followed by a 2.7 percent growth in 2014, and a 2.4 percent expansion last year. The government of Hong Kong expects a 1.5 percent growth in 2016.
Hong Kong is the sixth-prosperous economy on the globe, according to Global Finance Magazine. Mainland China’s capita GDP (PPP) is approximately US$10,000, while Hong Kong’s capita GDP is US$53,400. At the same time, Hong Kong is one of the most expensive regions to live.
More than 81 percent of the population has access to the world wide web, which contrasts massively with the 34.1 percent in 2000. Hong Kong has one of the highest mobile internet penetration rates of all Asian countries. If you add the increased fondness for gambling, it isn’t much of a surprise that online casinos are a prevalent entertainment activity among Hong Kong Chinese.
Gambling and online casinos in Hong Kong
It’s an open secret that internet gambling has an edge on its land-based cousin because of many reasons. These are some of the key factors behind the success story of online casinos:
- Top-notch online casino games with face-melting visuals
- Stunning bonuses, including deposit bonuses
- Mobile casinos
- Tons of exciting sweepstakes and promotions
- Dazzling cash prizes, such as multimillion progressive jackpots
- Rewarding loyalty programs
How to deposit money in an online casino when I’m from Hong Kong?
Everybody loves the free-play feature that most online casino games offer. However, gamblers who like to rake in some cash have to play for real money. Luckily, online gaming sites come with a whole host of user-friendly and trustworthy deposit methods, for example:
- Credit cards, such as Visa, MasterCard and Maestro
- E-wallets, including Skrill and Neteller
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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]
Does Hong Kong Have Casinos
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.