Hong Kong - Horse racing fans in Hong Kong defied the economic downturn by splashing out 117 million US dollars in bets in one night for the last race of the season, organizers said Friday.

The huge sum, the most gambled in a single night of horse racing in the gambling-mad city for five years, was staked on Thursday night's final race before the close of the summer season.

The Hong Kong Jockey Club, which runs all horse races in the former British colony, expects to see a 6 per cent overall rise in gambling takings for the season despite the global economic slump.

A spokesman for the club told government radio station RTHK: "To turn over that kind of money on a Thursday night is just exceptional."

Betting on horse racing is the only legal form of gambling in Hong Kong, apart from football betting through the Hong Kong Jockey Club and a government-run lottery.

There is a vast black market in underground syndicates that offer tax-free odds to punters in the city of 6.9 million, particularly during events like the football World Cup and Euro 2008 tournament. (dpa)