80% of Singapore Pools turnover now comes from sports betting
Singapore’s minister of state for home affairs used the figures to make the case of an overhaul of gambling legislation.
Singapore.- Desmond Tan, minister of state for home affairs, has revealed that in five years online sports betting has gone from accounting from 30 per cent to 80 per cent of Singapore Pools’ revenue. He highlighted the numbers at the second reading of the Gambling Regulatory Authority of Singapore Bill as an example of why overhauling legislation was needed to keep up with changes in technology and the way people gamble.
He also said the new legislation was needed because of the way the line between gambling and gaming had been blurred through the introduction of elements such as mystery boxes.
The Gambling Control Bill will create the Gambling Regulatory Authority (GRA) as a single regulator for all forms of gambling. Singapore hopes the new regulator will be in place for mid-year.
Under the new bill, the legal age for gambling in Singapore will remain 21, except for gambling at Singapore Pools’ physical outlets which will remain at 18. A new offence of proxy gambling will be introduced, criminalising gambling through someone else. Family and friends will be allowed to socially gamble at home.
