Bets on Hong Kong horse races will be accepted in the US, the Home Affairs Bureau says.

The approval, effective for five years and subject to the validity of the horse race betting licence granted to the Hong Kong Jockey Club Horse Race Betting, is made in accordance with an Agreement for Telecast & Placing of Bets on Horse Races relating to a one-way arrangement between the club and Las Vegas Dissemination. Bets can be placed on the club's races at authorised US locations.

Betting duty is charged on net stake receipts, or gross profits. A discount is allowed if the club accepts qualified bets outside Hong Kong within a charging period. In the case of the US, the betting duty discount will be half of the lowest marginal duty rate.

The bureau said the acceptance of qualified bets will benefit Hong Kong in terms of additional betting duty receivable. But the approval does not authorise Las Vegas Dissemination to accept bets in Hong Kong. Nor does it authorise any people in Hong Kong to place bets with any bookmaker outside Hong Kong, including Las Vegas Dissemination.