The Hong Kong Prize lottery was established during a period of rapid economic expansion in Hong Kong during the 1970s. At that time, government recognized its potential as an instrument to generate revenues for public services and charitable causes. Nowadays, the HK Prize lottery remains one of Asia’s most beloved lotteries, boasting annual revenues exceeding HK$20 billion for public services and charitable causes; and ranking seventh worldwide as an international trading hub.
The Hong Kong Prize Lottery stands out as both the country’s largest lottery and one of the region’s most transparent. The HK Prize Foundation adheres to stringent legal and professional standards when selecting winners and awarding prizes, training employees in fields like accounting, law enforcement and customer service; regular inspection of materials used in draws takes place; all equipment used is also regularly inspected prior to draws as well as performing regular X-Ray tests of balls used. HK Prize is audited annually by external auditors as an extra safeguard.
In addition to its main prize, HK Prize offers several secondary prizes for winning numbers that may include air tickets, cash or free travel – making this game among the most exciting lottery games on offer worldwide. Furthermore, this lottery game was awarded with the Gold Label of Responsible Gambling from European Monitoring Centre for Drugs and Addiction (EMCDDA).
Winners of the Hk Prize receive their winnings as a cheque that can be cashed at any bank or post office. The size of each winner’s payout depends on both their total wagers placed and how many winners there were; as more bets are placed, so too increases its jackpot prize pool.
Prizes at this casino are funded through proceeds of 54% of bets being deducted and various taxes and fees being assessed, meaning bettors may see slightly lower winning amounts compared to similar games at other casinos.
Friends and students of Professor Wang Gungwu donated money in 1992 to establish this prize in his memory; with any surplus being met by government matching schemes. Their intent was to honor his great contribution of reestablishing History Department as one of the main teaching/research units within Faculty of Arts during 1950s.
This year’s HK Prize is hosted by City University of Hong Kong and Standard Chartered Hong Kong, featuring a special ‘Special Incentive Award for Marathon’ that rewards all local runners who complete it under 3 hours for men or 3:30 hours for women with a cash prize of HK$10,000. The 18th Edition will take place on October 29 at City University of Hong Kong Golf Club as part of Asian Tour’s elevated International Series.