29 September 2016
For a limited time, Singapore government will allow limited online gambling with tightly controlled rules. As It eases a ban on remote betting.
The ban will be relaxed for the state-linked Singapore Pools and Turf Club, the legislation usually blocks gambling site access and payments by electronic methods.
Over the next two months, both operators will open their online gaming platforms, although they can not offer any casino type games or poker. They also will be fined $734,000 for any breach of the guidelines.
Singapore’s wealthy gamblers are really into sports betting especially on the top European football league matched like the Italian Serie A and English Premier League. Singapore only has 2 casinos.
The ministry said “our regime in blocking these sites are the best in the world… it is not possible to eliminate online gambling altogether. A Total ban would encourage underground gambling, therefore making it harder to police, we have social and law and order concerns to deal with.
“ Allowing exempt operators allows us to keep in control of our concerns”
Norway and Hong Kong also allow authorised and regulated operators so it’s not unique to Singapore.
The ministry said “ there several hundred online gambling sites-
The 2015 report from the Straits Times newspaper, in the previous year Singapore’s online betting industry cashed in an SG$500,000000. From the overseas and local sites before being closed down.