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HKJC to pay football betting tax annually for next five years The Hong Kong Jockey Club (HKJC) is required to pay an additional Special Football Betting Duty of HK$2. By Peter Lynch It amounts to an additional HK$12bn betting duty from the HKJC to the public purse. The HKJC noted that during the Budget consultation, it expressed its views and strong reservation on any increase in betting duty rates, which it said are "already the highest in the world. " Moreover, the HKJC explained that the increase will adversely impact the group's ability to contribute to the community through its donations to the Hong Kong Jockey Club Charities Trust on a sustainable basis. "The Club reiterates the paramount need to maintain our global and sustainable competitiveness, to effectively combat illegal and offshore betting operators, and to seize the market opportunities through strategic investments in our IT systems and racing assets to strengthen our role as an international racing and wagering hub, similar to the role of Hong Kong being the country's International Financial Centre," a statement from the HKJC read. " faux saint laurent bag
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In May 2018, the U. Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), a decades-old, federal law that prevented states other than Nevada from allowing legal, regulated, single-game wagers on both collegiate and professional sports. This federal prohibition inadvertently created a massive illegal market – along with myriad, associated public policy problems. States and tribal nations can now set their own policies to legalize and regulate sports betting in an effective manner that protects consumers and creates tax benefits for local communities. Since 2018, more than thirty states and Washington, D. C. The AGA anticipates continued momentum behind state legalization efforts, and we will continue to advocate for policies that promote a safe and accessible marketplace. States and tribal nations have proven to be effective regulators of gaming––including sports betting––and the more than 4,000 regulators nationwide have decades of experience overseeing gaming operations within their jurisdictions. faux saint laurent bag
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