Jockey Club invested HK$1 billion into basketball betting, will use it for football now

Hong Kong’s sole legal betting operator had earmarked HK$1 billion (US$127.7 million) and hired 180 people to develop a basketball wagering system, but will now take a financial hit after the government announced this week it was halting plans for its roll-out, a source has said. The source close to the Hong Kong Jockey Club told the South China Morning Post on Wednesday that it had already invested HK$400 million for preparatory work, including setting up a dedicated basketball betting system,...

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