Singapore Pools Limited is a state-owned lottery subsidiary company in Singapore. As a wholly owned subsidiary of the Tote Board, it is the only operator that is legally allowed to run lotteries in Singapore.
Singapore Pools, the only body in the island state permitted to offer online gambling, now gets about 60 percent of its revenue through remote channels, compared with 30 percent just three years ago, a senior government official said.
The Tote Board is reorganizing its operations with Singapore Pools taking over all management of horse betting from sister company the Singapore Turf Club from Jan. 7 next year.
Singapore raked in $2.7 billion ($1.99 billion) in betting taxes in the 2017/2018 financial year, unchanged from the year earlier.
Gaming revenue in Singapore is expected to remain at around US$4 billion in 2017 as the VIP segment continues to wane, said Fitch Ratings in a note on Tuesday. The rating firm noted that gaming revenues slumped slightly in 2016 despite a 12.5 percent gain in Chinese visitors in the first-half of the year. Chinese […]
Over 88 outlets and four LiveWire betting venues run by Singapore Pools had to suspend their sports betting services and winnings collection over two days as a result of a technical issues, local media reports. Punters were left high and dry over the weekend, with football betting services resuming only at 6.45pm on Sunday evening. […]
The Philippines has been one of the best-performing casino markets in 2016, with revenue from the properties in Entertainment City up 20 percent in 3Q, though operators from Vietnam and Cambodia are also posting strong results, highlighting the potential of these markets. AGB will be hosting the inaugural ASEAN Gaming Summit in March 2017 to […]
Allowing Singapore’s two operators to offer online betting provides a regulated and safer platform for gamblers, said Tan Chuan-Jin, the Minister for Social and Family Development, local media reports. Mr Tan’s remarks came the day after Singapore’s National Council of Churches criticized the government’s easing of the ban, saying it is sending “confusing and conflicting […]
Singapore’s National Council of Churches has criticized the government’s decision to ease an online gambling ban, saying it is sending “confusing and conflicting signals.” The government last week said that incumbent operators, Singapore Pools and the Singapore Turf Club would be allowed to offer online gambling services to locals, though with strict provisions. The announcement […]
Singapore locals will soon have a legal means to bet online, after Singapore Pools and the Singapore Turf Club were given the go ahead to run online betting platforms. The operators have been exempted from the Remote Gambling Act by the Ministry of Home Affairs (MHA), which was first introduced in February 2015. However, as […]
Singapore’s Workers Party has expressed concern over the applications from Singapore Pools and Singapore Turf Club (STC) to launch online betting services, local media reports. Earlier this month, The Straits Times reported that both lottery operators have applied to be exempted from laws that block online betting, conducting final tests of their online betting platforms […]
Singapore punters may be able to legally place bets online as early as October, the Straits Times reports. According to the news outlet, Singapore-based lottery operators Singapore Pools and Singapore Turf Club (STC) have applied to be exempted from laws that block online betting, looking to launch their online betting service once the applications are […]
Lottery operator Singapore Pools is still waiting on approval to run its first online betting website with less than two weeks to the start of Euro 2016, The Straits Times reports. According to a spokesman from the Ministry of Home Affairs, the application from Singapore Pools for exemption from laws that curb online betting “is […]
OpenBet has signed a seven-year contract to provide sports betting products and services to Singapore Pools. OpenBet was selected by Singapore Pools in February 2014 to replace its ten-year-old sports betting system. “Signing with Singapore Pools is a landmark win for OpenBet, one which affirms the company vision and direction, and our role as a […]
Singapore’s Ministry of Home Affairs is reviewing applications from the The Singapore Turf Club and Singapore Pools that would allow them to offer remote gambling services for their existing products. The Ministry said it will evaluate the applications based on the “strict” criteria set out in Section 26 of the RGA that include whether the […]
Singapore gamblers spend close to $8 billion a year on horse racing, pools and other games, outstripping the combined earnings of the city state’s two casinos. Punters spent $7.89 on games run by Singapore Pools and Singapore Turf Club during the financial year ending March last year, while the combined gross gaming revenue for the […]
More than 18 months after Singapore’s ban on online gambling took effect, the Ministry of Finance has finally given the nod to the two incumbent operators to offer internet gambling services to locals. Since the Remote Gambling Act came into force in February 2 last year, several hundred online gambling sites have been blocked, as well as bank accounts and credit card transactions linked to remote gambling payments. However, the new easing comes with significant restrictions.
Singapore Pools and the Singapore Turf Club are seeking to benefit from an exemption to the island state’s draconian ban on online gambling, with Pools already making plans to upgrade its systems despite the early stage of the approvals process.
Singapore has made its position against online gambling clear, outlawing the practice through some of the most draconian legislation anywhere in the world. However, the law has left major grey areas, in particular when it comes to social gaming. The legislation, which came into force in February, included the unprecedented steps of allowing government agencies to geo-block websites, stop bank payments and even issue extradition orders to offshore parties.So what happened before February 2, prior to the law coming into effect, what has happened since and, more importantly, what do experts expect to happen next?