Singapore is a beautiful tropical country that consists of major attractions like the Singapore Botanic Gardens, Gardens by the Bay, and Marina Bay Sands Singapore. The country's various attractions are what drive its remarkable development progress, with casinos playing a major role in its vibrant culture and growth.
While gambling in Singapore is generally seen as illegal unless regulated, licensed, and exempted, it’s still extremely popular in the region. In this article, we will look at the Singapore gambling scene and learn four things you need to know about gambling in Singapore.
1. Singapore’s Gambling Industry
The casino industry in Singapore is a major contributor to the current economy of Asia-Pacific, with its market size making up 4% of the profits and accounting for up to 1.5% of its global market size. Today, Singapore has the 3rd biggest casino market worldwide.
The gambling industry in Singapore might not be as well known and lavish as Las Vegas, but it is still glamorous in its unique way. With two prosperous casino resorts, the Singapore Pools, and several other unique betting options, Singapore has something for everyone.
2. Laws and Regulations for Gambling in Singapore
Singapore has very strict rules when it comes to physical and social gambling. However, the general consensus is that any form of gambling is illegal unless it's licensed or exempted. This is to encourage the message from the Singapore government that they do not condone or encourage gambling unless it takes place in a safe and controlled environment.
Currently, in-person betting at physical land-based casinos is allowed. There are currently two land-based casinos in Singapore for savvy bettors to choose from. In addition, bettors can take part in sports betting through the Singapore Pools, which are operated by the government and only include horse racing, motor racing, and soccer.
Online betting in general is not yet fully allowed in Singapore. As such, many bettors in the region turn to reputable offshore platforms to place their wagers. Even though Singapore has a relatively small population of around 5.5 million people, James Fuller shares that a growing number of these individuals are looking for online betting options. Offshore platforms offer a reputable and safe way for people within Singapore to engage in gameplay through platforms that are registered in other regions with more relaxed laws (source: https://www.safebettingsites.com/sg/online-gambling/).
To ensure that all gambling activities are legal, here are a few simple rules:
Social gambling can only take place between family and friends (people who know each other personally) and must be done in person at someone's home and not in any public areas.
Besides social gambling, gambling activities can only take place on licensed platforms and premises. Since the government and authorities do not have complete control over this, it is up to the players to make sure that they only use safe sites and place wagers with official sources.
All gambling operators must set clear rules to follow for the types of gambling activities that can take place. The Singaporean government has strict rules and holds the operators responsible for ensuring the rules and regulations are followed by all players.
3. Online Gambling and Blockchain Technology
With the evolution of the online gambling scene and the addition and adoption of cryptocurrencies, the gambling industry in Singapore has started to change for the better. Blockchain technology has brought about safer online gambling with the use of its digital ledger system which has made it more difficult for gambling sites to be hacked.
One of the biggest obstacles the gambling industry has faced in Singapore is the loss of profits due to poor transactional records and money laundering. However, blockchain technology has helped minimize the risks of financial loss. Not only has blockchain assisted with issues of loss, but it also offers gamers and organizations more transparency, safer transactions, and anonymity.
4. Gambling Age Limits
Unlike most countries that have a set age limit of either 18+ or 21+, Singapore has different age limits for different online games and betting activities. Surprisingly, 18+ is the most general age limit. However, some games go beyond that.
Here are a few examples:
To participate in lotteries like 4D and Toto lotteries, you must be 18 years and older. 18+ is also the set age limit for betting on horse racing via the Singapore Pools.
To participate in pool games, you must be 21 years and older.
For traditional and online gambling, you must be 21 years or older. However, this age limit also varies for each game.
Even though the age restrictions are all over the place, authorities are quite hard on anyone who tries to violate any of the set age restrictions. So, anyone who violates the age limit rules will have to pay a $1000 fine.
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