HK Jockey Club posts record betting turnover for 2020/21 season

The Hong Kong Jockey Club has reported turnover of HK$279.7bn (US$35.9bn).

Hong Kong.- The Hong Kong Jockey Club (HKJC) has posted turnover of HK$279.7bn (US$35.9bn) in its financial results for the 2020/21 season.

Most of that came from racing betting, which brought in HK$136.1bn, up 12.5 per cent year-on-year. Football betting turnover was up 54 per cent to HK$140.2bn and football betting duty was up 47.4 per cent to HK$9.25bn thanks to the resumption of major leagues, Euro 2020 and Copa America 2020.

The Mark Six lottery resumed in May 2021 leading to a turnover of HK$3.4bn, down 34.3 per cent when compared to the previous financial year. Revenue from the World Pool, which launched for Royal Ascot in 2019, was up 88.1 per cent, contributing 17 per cent of club turnover.

The HKJC said: “Through World Pools the Club is now expanding the concept, with Hong Kong fast emerging as a global hub for commingling on the world’s premier race meetings.”

The club had posted an 11.6 per cent drop in revenue in its financial results for the 2019/2020 fiscal year. Total revenue amounted to HK$218.7bn (US$28.2bn). Most of that came from horseracing, which brought in HK$120,990bn (US$15.6bn) from July 1, 2019 to June 30, 2020.