Articles: Gambling

Hong Kong's not-so-free economy
The US-based Heritage Foundation has, as always, ranked HK as the freest economy in the World. For once, the Government doesn't accuse foreign forces of interfering in HK's internal affairs. But this rosy view is not held by those who take the time to study the domestic economy. Here are a few things that Heritage may have overlooked. (4-Feb-2018)
Chim Pui Chung v Apple Daily Ltd & othersMartingale (betting system)
HK Court of First Instance, 3-Feb-2017
Mr Chim wins HK$100k for an article criticising his claim of a winning formula for betting on the 2014 soccer World Cup. No evidence was advanced in defence to show that he was wrong. Mathematicians would recognise his claim to be a Martingale system. Even with no house-edge, the net expected value of the series of bets is zero-win, because although there would be a small net win on most series, there is also a small risk of a huge loss. In reality, no punter has unlimited capital, no house accepts infinite bets, each series of matches comes to an end and every house takes an edge.
An aerial tour of HK's monopolies and anti-competitive practices
The slides from a presentation by Webb-site founder David Webb to the Asian Competition Forum at Polytechnic University this morning. When you get to slide 30, click the box to launch the online video. (9-Dec-2014)
Webb on CNBC re money laundering in Macau's Casinos
CNBC, 10-Jun-2009
Building a Value Proposition for HK
HK Chief Executive Donald Tsang recently convened an Economic Summit of 33 people, which spawned 4 focus groups, including one on financial services, which in turn produced 3 working groups, one of which, headed by HKEx government-appointed director and Chairman Ronald Arculli, has sought submissions on the markets. This is our submission. (4-Oct-2006)

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