The epidemic has lasted for more than two years, and betting shops have been closed many times, affecting the gaming industry in Hong Kong.
The 2020 Mark Six has been suspended for nearly 8 months. The annual report of the Inland Revenue Department shows that the gaming tax revenue from 2020 to 21 will drop by 5%. What is the net income of the Jockey Club betting on the Mark Six, horse racing and football betting under the epidemic?
How much tax does each project contribute to the government?
According to the 2020-21 annual report of the Inland Revenue Department, football games have the highest betting volume, with a net income of 15 billion yuan from the Jockey Club, which is believed to be related to the European Cup of Nations; followed by daytime horse racing, with 10 billion yuan.
In terms of gaming tax, since the tax rate of horse racing is 22.5 to 25 percentage points higher than that of football, the tax revenue of football and daytime horse racing also exceeds 7 billion yuan, accounting for 70% of the overall gaming tax.
Affected by the epidemic, the net income of the gaming industry decreased by 5.5 billion yuan compared with the previous year, and the tax revenue decreased by 1.3 billion yuan, a decrease of 5% compared with the previous year.
During the 2020-21 financial year, Mark Six was suspended for eight months and off-track betting shops were closed twice before resuming in May last year.
The racecourse has also implemented various levels of epidemic prevention restrictions in response to the epidemic, including closed-door races, admission only by appointment, and adjustments to the racecourse’s opening hours.
Under several waves of epidemics, the income of Mark Six lottery tickets fell by more than 70%, from 7.7 billion to 1.8 billion.
During the same period, the net income from betting on horse racing actually increased, with an increase of 99 million yuan and 700 million yuan for daytime horse racing and 700 million yuan respectively for nighttime horse racing.
The Hong Kong Jockey Club earlier pointed out that the lottery lottery lottery is the main source of income for the Lottery Fund. From March 8, it will be increased to twice a week to increase the fund's income and provide support to those in need in the community to cope with the impact of the epidemic in Hong Kong. challenge to come.
On March 16, it was announced that it would provide the Home Affairs Department with the facilities of a telephone betting centre in Tin Shui Wai to operate the telephone hotline under the "Stay Safe, Anti-epidemic" scheme.
