Bloomberg – Mongolia’s government will propose laws to set up a professional horse-racing league and legalize betting to compete for the Chinese gambling market. The government may approach the Hong Kong Jockey Club with a proposal to have jockeys and horses race in Mongolia when they’re not competing in the former British colony, Culture Minister Oyungerel Tsedevdamba said in an e-mail. The Hong Kong horse racing season runs from early September to mid-July. “Our priority is to make the legal environment for a jockey club operation so that we can have a market share” of the Asian jockey business, Oyungerel…