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Hong Kong’s record prize money increase includes Group races

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£136.2 million up for grabs in 2021/22 season, with £9.3 million in the four Group 1s on LONGINES Hong Kong International Raceday

Hong Kong racing will offer record prize money of HK$1.46 billion (£136.2 million) for the 2021/22 season with the four G1 features on LONGINES Hong Kong International Raceday offering a combined new high of HK$100 million (£9.3 million).

By elevating the LONGINES Hong Kong Cup’s prize money to HK$30 million (£2.8 million), the Hong Kong Jockey Club will stage the world’s richest Group 1 races over 1200m, 1400m, 1600m and 2000m on turf.

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The LONGINES Hong Kong Mile and the LONGINES Hong Kong Sprint, which are already the most valuable Group 1 races over 1600m and 1200m on turf, will rise to HK$26 million (£2.4 million) and HK$24 million (£2.2 million) respectively.

The Group 1 Queen’s Silver Jubilee Cup (1400m) is also the most endowed seven-furlong contest in the world on turf at HK$12 million (£1.1 million).

Hong Kong will also stage the world’s second most-valuable 1200m Group 1 on turf in 2021/22, with the Chairman’s Sprint Prize, run on FWD Champions Day, worth HK$20 million (£1.9 million).

In addition, there will be generous increases across the whole prize money structure, with prize money for Group 2 races and Group 3 races boosted by HK$250,000 (£23,000) and HK$200,000 (£19,000) respectively. Races in Classes 1 to 5 will also see prize money increased by between 4% and 9%, demonstrating the Club’s commitment to fostering talent and incentivising strong owner investment at all levels.

The upward adjustments, announced today, Friday 16 July, re-establishes the LONGINES Hong Kong Cup as the most lucrative Group 1 2000m event on turf in the world and consolidates its position as a principal target for the world’s best middle-distance horses.

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Hong Kong Racehorse Owners Association President Mr. Matthew Lam said: “The Hong Kong Jockey Club has been doing great in keeping ‘racing goes on’ amid the COVID-19 challenges since last year when so many other sporting events were impacted. It is great to see the further increase of prize money in nearly all races, which offer good incentives to Hong Kong Owners to continue to import high class horses and support the world class racing standard in Hong Kong.”

Mr. Andrew Harding, Executive Director, Racing, at the Hong Kong Jockey Club said: “Key to Hong Kong’s world-class racing is the Club’s significant investment in prize money. Despite the issues associated with the COVID-19 pandemic and the uncertainty in world economies, we are committed to continuing our strategy of strong increases in  purse levels to reward and encourage our owners and to ensure Hong Kong’s elite races are attractive to overseas competitors. This approach has been a core element in Hong Kong being able to maintain its position as a world leader in providing quality horseracing and has enabled us to achieve between 17 and 26 horses in the LONGINES World’s Best Racehorse Rankings for each of the past eight years.

“For next season, the Club has increased prize money to a record overall sum, including a significant injection across all Class 1 to Class 5 handicap races and Group 2 and Group 3 contests. We believe this will help to enhance competition and assist our owners in their attempts to purchase and import the best possible horses in a difficult economic climate.”

Mr. Harding noted the importance of Hong Kong’s elite races, especially the flagship LONGINES Hong Kong International Raceday.

“The LONGINES Hong Kong International Races will offer a record total of HK$100 million (£9.3 million) across the four Group 1 races held on the day, which underlines the Club’s commitment to attracting and rewarding the world’s best,” he said.

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“That commitment is evident in the prize money increases for the LONGINES Hong Kong Cup, Hong Kong Sprint and Hong Kong Mile.”

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Uzbekistan Legalises Online Betting and Lotteries

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President of Uzbekistan Shavkat Mirziyoyev has signed a decree on April 19 titled “On Measures to Improve the Regulation of the Organization and Conduct of Lotteries and Risk-Based Games in the Republic of Uzbekistan”. The document abolishes the ban starting from January 1, 2025, and introduces a legal framework for the organisation of risk-based games online and betting activities.

The issue of legalising betting activities has been a long-standing topic in Uzbekistan. In December 2019, the president signed a decree to legalise bookmakers, but this decision was revised in April 2022. In April 2023, the head of state instructed the development of a regulatory framework for betting activities.

The National Agency for Advanced Projects (NAAP), the authorised state body for regulating and licensing activities in this sector, provided insights on the necessity of introducing state regulation in the gambling sector in Uzbekistan. The agency emphasised the need to prevent illegal gambling businesses, protect players’ rights and generate additional income for the state budget.

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The president’s decree aims to introduce advanced foreign experience and modern technologies in regulating the organisation of risk-based games and lotteries to increase investment attractiveness, tourist potential and attract additional funds to the country.

The measures outlined in the decree include the creation of legal foundations for the legalisation of activities related to risk-based games online, betting activities, and lotteries, implementation of mechanisms to protect citizens’ rights and interests, prevention of gambling addiction and the generation of additional state budget revenue.

Starting from January 1, 2025, a taxation system will be introduced for license holders, where organisers of online games, betting activities and lotteries will pay a turnover tax. This system aims to prevent the concealment of taxable revenue and is expected to generate additional tax revenues for the state budget.

Overall, the implementation of the decree is intended to establish a reliable foundation for the legal regulation of activities related to organising risk-based games online, betting activities and lotteries in Uzbekistan, protect citizens’ interests, combat gambling addiction and provide additional sources of income for the state budget.

The post Uzbekistan Legalises Online Betting and Lotteries appeared first on European Gaming Industry News.

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Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET

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Award-winning iGaming supplier in regulated markets Delasport has just signed a sports deal with Philippines’s number 1 operator OKBET.

The leading software developer will provide sports-services to their new partner, enhancing the experience of sports bettors in the Philippines even further.

“We’re proud to supply our services to such a strong partner as OKBET, and to an exciting and steadily growing market as the Philippines”, Delasport’s CEO Oren Cohen Shwartz comments on the agreement.

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Regulated Philippines is marking a stable 5% year-to-year growth with the number of users expected to reach almost 6 million by 2029.

This is yet another deal for Delasport, with the global supplier’s expansion in regulated markets happening at full force.

Same goes for OKBET who have been holding the number one operator spot in iGaming in the Philippines for a long time now.

“I’m excited that OKBET and Delasports are joining forces to redefine the landscape of online sports gaming in the Philippines”, OKBET’s COO Wayne Thong also comments on the deal. “This partnership combines OKBET’s local market expertise with Delasports’ global industry leadership, creating new opportunities for innovation and customer satisfaction. OKBET and Delasports share a common vision for the future: a vibrant and dynamic platform that caters to the diverse interests of sports enthusiasts. By combining cutting-edge technology with a deep understanding of user preferences, this collaboration aims to set new standards for the industry.”

The post Delasport Signs a Sports Deal with Philippines’ Leading Regulated Operator OKBET appeared first on European Gaming Industry News.

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Indonesia Establishes Task Force to Combat Online Gambling

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Indonesia’s Ministry of Communications and Information Technology (Kominfo) has revealed plans to establish a task force to combat online gambling.

In a statement, Kominfo said the task force would comprise representatives of multiple government agencies including the Financial Services Authority (OJK), Financial Transaction Reports and Analysis Centre (PPATK) and the police.

It will also work with Interpol to combat cross-border cases given the government’s lack of past success in blocking foreign operators.

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“Kominfo will oversee the digital space, OJK will manage accounts and PPATK will handle fund flows, and the police will carry out arrest and investigation duties,” said Usman Kansong, the Ministry’s Information and Public Communications Director.

Minister Budi Arie said: “The Ministry has also issued a warning to all social media platforms, cellular operators and internet service providers not to facilitate any form of online gambling promotion. We have done everything within the authority of Kominfo.

“We from the Ministry of Communication and Information are fully determined. At the beginning of the week I gathered all our teams at Kominfo to work together to eradicate online gambling.”

The post Indonesia Establishes Task Force to Combat Online Gambling appeared first on European Gaming Industry News.

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