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

  1. #1

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

    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?


  2. #2

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    Lol what’s stopping you from getting a vpn and opening an overseas account?

    I did with ladbrokes with no issues whatsoever.


  3. #3

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    Quote Originally Posted by jimbo
    Lol what’s stopping you from getting a vpn and opening an overseas account?

    I did with ladbrokes with no issues whatsoever.
    Even if I did that, I won't be able to transfer money with my HK bank cards. How did you get around that?

    You can PM me if that's more convenient.

  4. #4

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    Transfer money to a UK bank account?

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  5. #5

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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 are confusing profit and surplus. As a charity it is non-profit but it does aim to make a surplus which should then be used for charitable causes.
    imparanoic and tparker like this.

  6. #6

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    Why isn't the government opening the market to other bookies to have open competition and free trade?
    David Webb explains it succinctly as usual:


    • We have a gambling monopoly. Nobody can operate a bookmaker or lottery in Hong Kong unless they are the Hong Kong Jockey Club, which takes bets on horse races, overseas soccer matches and runs the Mark Six Lottery. There are no betting exchanges. It is also illegal for anyone (including tourists) to place a bet from within HK with a licensed overseas bookmaker. This is a protectionist measure to bolster the Jockey Club's monopoly. The vast bulk of the profit goes straight to the Government as betting duty, but to provide a fig leaf excuse for the monopoly, some of the profit is washed through the Jockey Club Charities Trust which does things the Government would do anyway like build clinics or school buildings, or things the Government doesn't wish to justify to the LegCo Finance Committee, such as the Central Police Station project or the Palace Museum.


    https://webb-site.com/articles/notsofree.asp
    Last edited by shri; 22-09-2018 at 09:16 AM.
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  7. #7

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    It is also illegal for anyone (including tourists) to place a bet from within HK with a licensed overseas bookmaker.
    Was not aware of that.
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  8. #8

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    Quote Originally Posted by shri
    Was not aware of that.
    There's a link in David Webb's original text (the specific item about overseas was added in 2002):
    CAP 148 GAMBLING ORDINANCE Section 8 Betting with a bookmaker
    shri likes this.

  9. #9

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    whether the bet is received within or outside Hong Kong.(Amended 42 of 1990 s. 6; 12 of 2002 s. 5)
    What does this mean? I cannot pop into a bookie while on a trip and bet on the local lottery?

    These legal changes should go through a notification mechanism like banks are forced to send me scraps of paper every time the change a sentence in their T&Cs.
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  10. #10

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    Quote Originally Posted by shri
    Transfer money to a UK bank account?
    I'm not from the UK

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