Hong Kong Jockey Club reviews early-season betting turnover decline
Deals & M&A2 min read
In brief
- Local wagering at Sha Tin on 27 September fell 11.5% year on year to HKD1.359bn.
- Chief executive Winfried Engelbrecht-Bresges cited smaller fields and competition from overseas simulcast races.
- The club has added bet types and pools for simulcast and local races from 11 October.
The Hong Kong Jockey Club is reviewing a decline in local betting turnover at five of the first six meetings of the 2026/27 racing season, the club said. At Sha Tin on 27 September, local wagering on the 11-race card fell 11.5% year on year to HKD1.359bn, according to a report attributed to the South China Morning Post.
Customer numbers, according to the club, were level with or marginally above the equivalent stage of last year. Greg Carpenter, who heads racing product, called the average stake over the opening five fixtures "definitely very soft."
Engelbrecht-Bresges also cited a "cannibalisation effect" from the growing number of commingled and simulcast overseas races. "If we have races with five horses or six horses, it doesn't work," he said.
Since then the operator has introduced a six-up wager on simulcast races, a further six-up pool covering the opening six local races starting October 11, and additional double trio pools at selected simulcast meetings.
The dip comes after a robust 2025/26 campaign, when overall racing turnover climbed 3.6% to HKD 143.3 billion, with overseas wagering the main engine. In April, Hong Kong put aside its basketball betting legalisation plan, explaining that it wanted to observe how prediction markets evolve first.
Unauthorised operators are a rival in plain sight. Police detained 150 people in June during a three-day crackdown on a syndicate suspected of taking more than HKD 320 million in bets. According to the club's own estimate, illegal basketball wagering by itself attracted HKD 70 billion to HKD 90 billion in 2024, with up to 430,000 residents taking part.
As the report noted, offshore casino websites vie for the same gambling spending. Hong Kong law treats a wager placed with an unlicensed bookmaker as an offence no matter where that bookmaker operates, carrying a maximum penalty of HKD 50,000 and nine months' imprisonment.
Hong Kong's biggest single taxpayer, the club has stated that broadening its customer base is necessary. In 2021 football replaced horse racing as the largest turnover contributor, and it now makes up over half of all wagering.
“If we have races with five horses or six horses, it doesn’t work”