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What's the deal with HKJC, their monopoly and their lousy odds?

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  1. #11

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    Quote Originally Posted by Vodka_Tonic
    I like Football and Football betting. We have just one bookie in HK, check out their odds here: Hong Kong Jockey Club

    Now select any match and compare their odds with other leading bookies here: https://www.oddschecker.com/football

    You can compare the odds with at least 20 different bookies. HKJC odds are way worse than the worst of them. HKJC gives a payout of 75-85% depending on the bet types while the leading bookies payout 90-97%

    Enjoying sole monopoly, HKJC does not need to spend any money on advertisement. It isn't providing a variety of betting options and services when compared to other bookies. Why isn't the government opening the market to other bookies to have open competition and free trade?

    Now before some of you tell me that HKJC is a nonprofit organization, that's utter nonsense! I have friends working for HKJC and they don't believe that either. HKJC studies betting behaviors and tries to maximize revenue collection. Even during in-play betting, they sometimes close the betting market when they fear they may lose. It's by no means a nonprofit organization!

    So why won't the government wake up?
    You really need to read up on what is a non profit organization... As to the government doing anything against the jockey club, you must be new in HK to say something that silly. Who gave them the monopoly do you think?
    civil_servant likes this.

  2. #12

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    Of course the Government gave them the monopoly but they are throwing dust in the government's eyes with their charity work and dust into the public's eyes with calling it a nonprofit organization. There's no way it's nonprofit and it's time people wake up.


  3. #13

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    Quote Originally Posted by Vodka_Tonic
    Of course the Government gave them the monopoly but they are throwing dust in the government's eyes with their charity work and dust into the public's eyes with calling it a nonprofit organization. There's no way it's nonprofit and it's time people wake up.
    As Golem says, you must be new in HK.

    My phrase to people who ask me what HK is like, is to say "it's a good place to do business from, but impossible to do business in".

    Vested interests and government control everything locally (the government is exempt from its own recent competition ordinance). HKJC is not an organisation that's taking advantage of its position and screwing HK people, it is the HK government. It won't change, nothing will change. Suck it up or work round it as others have advised.

  4. #14

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    Quote Originally Posted by Vodka_Tonic
    Of course the Government gave them the monopoly but they are throwing dust in the government's eyes with their charity work and dust into the public's eyes with calling it a nonprofit organization. There's no way it's nonprofit and it's time people wake up.
    You seem to be under the impression that any of this surprising to others. It's really not surprising at all, this is simply typical of HK.

  5. #15

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    Quote Originally Posted by Vodka_Tonic
    There's no way it's nonprofit and it's time people wake up.
    Once again, you obviously don't understand the meaning of non profit. It does not mean you are not supposed to make money as an organization. You need to educate yourself a bit before ranting...

  6. #16

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    Quote Originally Posted by Golem
    Once again, you obviously don't understand the meaning of non profit. It does not mean you are not supposed to make money as an organization. You need to educate yourself a bit before ranting...
    You have some preconceived notions about my understanding of nonprofit which you have repeated like a child who didn't get attention the first time. You don't need to reply if my post offends you.

  7. #17

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    Quote Originally Posted by Vodka_Tonic
    You have some preconceived notions about my understanding of nonprofit which you have repeated like a child who didn't get attention the first time. You don't need to reply if my post offends you.
    You just don't get it, do you?

    Golem is right.

  8. #18

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    Quote Originally Posted by Vodka_Tonic
    You have some preconceived notions about my understanding of nonprofit which you have repeated like a child who didn't get attention the first time. You don't need to reply if my post offends you.
    As I said in post 5, you are clearly confused about what non-profit means. I agree HKJC is a monopoly and exploits punters. You don't need to gamble though so of all the issues in HK this one ranks very low for me. Just think of it as a charity donation combined with a voluntary tax.

  9. #19

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    The people running the organization are minting money. If it was just a charity donation with a voluntary tax, their accounts would be made available to public. Don't be naive.


  10. #20

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    Quote Originally Posted by Vodka_Tonic
    The people running the organization are minting money. If it was just a charity donation with a voluntary tax, their accounts would be made available to public. Don't be naive.
    How much are they minting (excluding tax and charitable spending)?

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