Hong Kong authorities have put a plan to launch basketball betting on hold amid the rapid growth of the prediction market, seven months after lawmakers passed a bill to legalise the activity.
The Jockey Club, which had been expected to operate the new wagering, said in an internal notice it respected the government’s decision.
The club previously estimated that authorised basketball betting could generate HK$1.5 billion (US$191.5 million) in tax revenue annually, although a source said it could…
