Singapore to legalise online betting

singapore

The board reported that entertainment, sightseeing and gaming revenue fell 16 percent year-on-year.

It has transpired that Singapore’s Ministry of Home Affairs (MHA) may approve online betting by the end of October.

Singapore.- Singapore’s Ministry of Home Affairs (MHA) may approve online betting by the end of October. In anticipation for the Minister’s approval, Singapore-based lottery operators Singapore Pools and the Singapore Turf Club are preparing online services.

Both lottery owners may be running final tests and preparing information for staff and customers in expectation of being exempted from the Remote Gambling Act. Operators expect to be able to take live bets online and running lotteries and games, although betting amounts will be limited.

The Singapore parliament passed the Remote Gambling Act two years ago, banning online and phone gambling. Companies that operate, run or supervise remote gambling services and make them available to Singapore consumers face fines of up to S$500,000 (US$ 366,340). However, the Act allows operators to be exempt if they are not-for-profit and contribute to public, social and charitable causes in Singapore.

Both STC and Singapore Pools meet these criteria, as they are not-for-profit organisations operated by the Singapore Totalisator Board (Tote Board), a statutory board under the Ministry of Finance.

The MHA said it is evaluating applications from the two bodies. The MHA gave guidance in 2015 on games that would not be affected by the law.