HAPPY VALLEY. Hong Kong loves the races, probably as much because of a general ban on gambling as for a penchant for equine pursuits. The only legal betting in HK is on the horse races, and you must place your wagers at the racecourse or else at one of the official centers scattered around town. Races are split between Happy Valley (usually on Wednesdays) and Sha Tin Racecourse (mostly on Saturdays). There's a 'beer garden' with racing commentary in English available at Happy Valley near the finish line, and many expatriates congregate here during the races.