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Hong Kong Soccer Betting Proposal Criticized28 May 2003HONG KONG – As reported by the Associated Press: "Education groups Wednesday criticized Hong Kong's proposal to legalize betting on soccer matches - which the government hopes will curb illegal bookmakers and boost tax revenues. "`Gambling causes bankruptcies,' said Tang Siu-hung, an official from a union that represents school principals. "…The government has said its gambling proposal would raise an estimated 1.5 billion Hong Kong dollars (US$192.3 million) a year in extra tax revenue, some of which would be donated to a fund to raise public awareness about gambling addiction. "But opponents warned in a legislative hearing Wednesday that the measure would attract youngsters to gambling on soccer - a popular sport among Hong Kong students. "…Many Hong Kong people are enthusiastic gamblers, though their legal options for betting at home are limited. "Thousands flock to the casinos in nearby Macau, while others place wagers on the two forms of betting permitted in Hong Kong - local horse races and a numbers-game lottery. Both are operated as monopolies by The Hong Kong Jockey Club, a non-profit charity that would end up handling the soccer betting…" |