Growth in football betting through the Hong Kong Jockey Club continues at a much faster rate than on racing, with HK$172.8 billion wagered on the round-ball code over the 2024/2025 financial year, compared to HK$138.4 billion for racing.
Overall turnover on football through the HKJC grew by 7.8 per cent on the previous year, driven by the HKSAR Government’s approval for more leagues and in-play bet types. The HKJC attributed this boost to it gaining more share from the illegal markets.
While football turnover has been higher than racing in Hong Kong since 2021, for the first time, betting duty tax paid by the HKJC was more from football betting (HK$13.3 billion) than it was from horse racing (HK$12.9 billion).
Significantly, the HKJC had its licence to operate on football extended for another five years in July.
In February, it also submitted the case for basketball to be included in its remit. A public consultation has since been completed and relevant amendments to the Betting Duty Ordinance are currently in progress in the Legislative Council.
Overall racing turnover across the financial year from Hong Kong-based punters fell to HK$104.7 billion from $105 billion, but growth in commingled bets saw overall racing turnover grow year-on-year from HK$136 billion to HK$138.4 billion.
These figures differ marginally from the end-of-season figures published in July as they take in a slightly different time period.
Overall turnover on betting via HKJC jumped to HK$320.3 billion, from $304.9 billion last year.
“This season alone, thanks to our strategy of globalising Hong Kong racing, commingling was up 10.1 per cent to HK$31.8 billion, comprising fully 25.3 per cent of total wagering on Hong Kong racing, with the Club’s racing now watched and wagered on in 26 countries and jurisdictions on five continents,” HKJC chief executive, Winfried Engelbrecht-Bresges, said.
“Building on this success, we have now made Hong Kong into the global centre for horse racing wagering via the World Pool, which now covers many of the World’s Top 100 Group/Grade 1 Races.
The HKJC has had additional simulcast racedays and simulcast races approved, taking the total to 70 and 55, respectively, by 2026/2027.
Across all its operations, the club generated HK$49.3 billion in revenue with an EBITDA of HK$35.3 billion, or 72 per cent of total revenue.
“Given the challenging economy, and significant competition from illegal gambling operators, our results this year were nothing short of outstanding,” Engelbrecht-Bresges said.
“We owe our success to our long-term strategic focus on world-class racing and customer centricity, to an incredible team effort by all employees, and above all to a determination to fulfil our purpose: the betterment of society.
“To create even more value for our community our aspiration is to become a global racing, sports and entertainment brand, reaching out to even more fans across the world. With the Year of the Horse upcoming, and the launch of world-class racing at Conghua Racecourse in October 2026, the prospects for the club, and its commitment to the betterment of society, have never been better.”
