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Hong Kong Jockey Club
From Wikipedia, the free encyclopedia
| The Hong Kong Jockey Club | |
|---|---|
 |
|
| Type | |
| Founded | 1884 |
| Headquarters | Hong Kong |
| Key people | John Chan, Winfried Engelbrecht Breges |
| Industry | Charity |
| Products | betting, lottery, sports |
The Hong Kong Jockey Club (HKJC, traditional Chinese: 香港賽馬會) is one of the oldest institutions in Hong Kong, founded in 1884 to promote horse racing. Under colonial rule, the club enjoyed royal patronage, and existed under the name of "The Royal Hong Kong Jockey Club" (英皇御准香港賽馬會) until 1996.
It is a non-profit organisation providing horse racing, sporting and betting entertainment in Hong Kong. It holds a government-granted monopoly in providing pari-mutuel betting on horse racing, "Mark Six" lotteries, and fixed odds betting on overseas football events. The organization is the largest taxpayer in Hong Kong, as well as the largest private donor of charity funds, contributing an average of over HK$1 billion (approximately US$130 million) annually over the past ten years. The HKJC also provides dining, social and recreation facilities to approximately 20,000 members.
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Founded in 1884 as an amateur body to promote horse racing, it was an exclusive club whose membership was drawn from the ruling classes. During the 19th century, and the early part of the 20th century, there were few Chinese members. Three of the top colonial clubs at the time, namely the Jockey Club, Victoria Recreation Club (1872) and the Amateur Dramatic Corps (1844) "had not a single Chinese member between them".[1]
It changed its status from amateur to professional in 1971. The Club organised the annual races which took place around Chinese New Year, and was initially financed by commissions on bets which were placed through private clubs.
HM Queen Elizabeth II accorded it with Royal patronage in 1959, and the club existed under the name of "The Royal Hong Kong Jockey Club" (英皇御准香港賽馬會) until 1996.
In July 2005, the decision to stage equestrian competitions in Hong Kong was made. The Club's world-class international racing centre at Sha Tin will be used as the foundation for the Olympic and Paralympic venues, with additional competition and training venues being incorporated into existing sports facilities at the Hong Kong Sports Institute, the Jockey Club Beas River Country Club and the adjacent golf course.
The HKJC conducts nearly 700 horse races per year at its two race tracks at Sha Tin and Happy Valley. During the 2001/02 racing season, the HKJC licensed 1,144 horse owners, 24 trainers and 35 jockeys and had 1,435 horses in training.
In 2002-2003, the betting turnover was HKD 71 billion. After paying dividends of 58 billion and betting duty of 9.5 billion, its betting commission revenue was HKD 3.9 billion. It contributes 11.7% of Hong Kong's tax revenue. Surpluses from its operation are allocated to the Hong Kong Jockey Club Charities Trust.
Since the transfer of sovereignty of Hong Kong, the popularity of horse racing has declined, also possibly due to economic conditions in the region, the HKJC's revenue has substantially declined in recent years.
On March 16, 2007, the HKJC appointed William (Bill) Nader, formerly with the New York Racing Association, as its executive director of racing from April 2007.
On September 9, 2007, Sha Tin Racecourse opened with record 1-day crowd of about 60,000. Chief Secretary Henry Tang stroke the ceremonial gong. The Hong Kong Jockey Club collected US$106 million in bets (highest since 2001). Children of horse owners were admitted amid protest of local anti-gambling groups. Sunny Power, booted by Howard Cheng got the trophy in the 1,200 metre dash.[2]
The HKJC has a legal monopoly over betting on horse racing and football. In 1974, it opened 6 off-course branches where the members of the public could wager on horse race meets at the club's Happy Valley racecourse. There are now in excess of 100 betting branches throughout the territory which accepts bets on racing and on soccer and buy "Mark 6" lottery tickets.[3]
The HKJC was instrumental in persuading the Hong Kong government to pass the Gambling (Amendment) Bill 2002 to combat unauthorized cross-border gambling and the related promotional activities in Hong Kong, making it a criminal offence for any person in Hong Kong to bet with an unauthorized bookmaker, even when the bets are received outside Hong Kong. The offence applies to all visitors as well as to residents of Hong Kong.
It was also instrumental in persuading other members of the Asian Racing Federation to sign the Good Neighbour Policy on September 1, 2003.
In 2006, after years of declining turnover, the Hong Kong Legislative Council passed the Betting Ordinance (Amendment) 2006. This amendment granted the Hong Kong Jockey Club more autonomy in how it ran its own operations.
Pool Name - Dividend Qualification
- Win (獨贏) - 1st in a race.
- Place (位置) - 1st, 2nd or 3rd in a race with 7 or more declared starters or 1st, 2nd in a race with 4, 5, 6 declared starters.
- Quinella (連贏) - 1st and 2nd in either order in the race.
- Quinella Place (位置Q) - Any two of the first three placed horses in any finishing order in the race.
- Trio (單T) - 1st, 2nd and 3rd in any order in the race.
- Tierce (三重彩) - 1st, 2nd and 3rd in correct order in the race.
- First Four (四連環) - 1st, 2nd, 3rd and 4th in any order in the race.
As of September 2006, all Win, Place, Quinella, and Quinella Place bets (including All Up bets) of a value of at least 10,000 Hong Kong Dollars are eligible for a 10% rebate if the bet or betline loses.
Pool Name - Dividend Qualification - Consolation [if any]
- Double (孖寶) - 1st in two nominated races - 1st in 1st leg and 2nd in 2nd leg.
- Treble (三寶) - 1st in three nominated races - 1st in first two legs and 2nd in third leg. Now discontinued in favor of the First Four bet type.
- Double Trio (孖T) - 1st, 2nd and 3rd in any order in both legs.
- Triple Trio (三T) - 1st, 2nd and 3rd in any order in three legs - 1st, 2nd and 3rd in any order in any two Triple Trio legs.
- Six Up (六環彩) - 1st or 2nd in each of the legs nominated to comprise the Six Up - 1st or 2nd in each of the legs nominated to comprise the Six Up.
In the 1950s, as Hong Kong struggled with post-war reconstruction and a massive immigration, there was a need for more charitable structures. HKJC enhanced its charitable role in 1955 by formally devoting its annual surplus to charity and community projects. In 1959, the Hong Kong Jockey Club (Charities) Ltd, was formed to administer donations. This company became the Hong Kong Jockey Club Charities Trust in 1993.
The trust serves four principal areas of civic and social need: sports, recreation and culture, education and training, community services and medical and health.
The Hong Kong Jockey Club supports different social and education institutions. The HKJC founded the Jockey Club Ti-I College with a HK$84 million donation. Many swimming pools or public sport facilities in Hong Kong are supported or founded by the funding of The Hong Kong Jockey Club.
- Douglas Clague
- Sir Gordon MacWhinnie
- Peter Gordon William
- Michael Graham Ruddock Sandberg
- Sir Oswald Victor Cheung (張奧偉)
- John Joseph Swaine
- Sir William Purves (浦偉士)
- 黃頌顯
- Alan Li 李福深
- Ronald Arculli (夏佳理)
- John Chan (陳祖澤)
- ^ Eric Cavaliero, "Hong Kong Club members succumbed to redevelpment offer, The Standard, February 13, 1997
- ^ ChannelNewsAsia.com, HK's Sha Tin race course opens to huge crowds
- ^ Betting Services for the 21st Century, HKJC, Retrieved 2007-07-24
