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Headline: Online betting threatens Jockey Club dominance Source: Euromoney Date: April 2001 Author: Kevin Rafferty The internet age is challenging one of the great modern myths of Hong Kong – that betting is not permitted in the territory. Indeed, something of a crisis is occurring because of the explosive growth of betting on the internet by Hong Kong residents. The government coffers are suffering, one of the oldest and most powerful groups in the city complains that it is losing up to $7 billion a year in revenues and cries of foul can be heard as far away as the local legislative council. |
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