Hong Kong Handle
In a column about a software glitch, an extraordinary figure:
We can’t wait for commingling to occur and not just because it will give Hong Kong’s finest taxi drivers the chance to dictate who starts favourite in the Prix de l’Arc de Triomphe and Golden Slipper. The weight of Hong Kong money will leave punters in betting shops around the world scratching their heads and redefine the term market mover. Just for perspective, the accidental HK$30 million was a lot in any language (US$3.8 million) and enough to buy a 30-second commercial during the Super Bowl. But it was also less than 2.5 per cent of the total turnover at Sha Tin yesterday, which reached a solid HK$1.3 billion …
Or about $171 million in American dollars.
For a little perspective: Total handle on the 2012 Kentucky Derby was $133 million, total two-day handle on the 2012 Breeders’ Cup $144 million.
7/11/13 Addendum: Hong Kong handle rises 9%, hits a record high of $93.8 billion ($12.1 billion) in its most recent season, outhandling the US.
