As a result, the bill passed with overwhelming support, with 77 votes in favor, and only two against. Two lawmakers abstained from voting. Commenting on the decision to legalize the activity, Secretary for Home and Youth Affairs Alice Mak said:

“We believe legalizing basketball betting will reduce traffic to illegal websites and curb the inflow of illicit gambling funds.”

Moving forward, the basketball vertical will have a 50% tax on its net profit, which is similar to the way Hong Kong currently regulates soccer. Yet, it’s not clear if this approach is going to make a dent in the reach of the black market.

It is estimated that between $9bn and $11.5bn was wagered on websites in 2024, indicating that there is strong demand for competitive products. At 50% tax, it is not immediately clear whether the legalization would result in positive outcomes for Hong Kong.