Singapore gamblers are back in action and setting new records in their favorite entertainment. Covid-19 deregulation has increased gambler spending, with lottery and sports betting products doing well.
SGD3 billion (US$92 billion) was wagered on lotteries and sports in the Thoth Commission's last fiscal year, which ended in March.This is the highest amount reported by the statutory body in the last four years and represents a 68% improvement over the previous year's result.
Paid entry to the casino also proved beneficial to Singapore's economy.Admission revenue was SGD 1 million (US$2,500 million), also the highest in the past four years.
Singapore as a gaming oasis
Due to the COVID-19 outbreak, all Singapore pools, Singapore Turf Club and two casinos have been closed.Since the health restrictions from the pandemic began to disappear, each store has a different timing for reopening. Retail outlets at Singapore Pools reopened on June 2, 2020, while others remained closed longer.
Lotteries and sports betting are operated by Singapore Pools and Singapore Turf Club, which includes horse racing operators, under the guidance of the Tote Commission.Tote Board annual reports do not break down wagers or payouts for individual games.
Still, this result is very promising. Even before COVID-19, Singapore's gaming industry was not as strong as it is now. In 2019, gamblers spent SGD 81 billion (US$ 60 billion) on lottery and sports betting, 14% below the latest levels.
昨年度、賭博者は競馬の賭けに8億1800万SGD（6億270万米ドル）を費やし、前年度の4億9600万SGD（3億6545万米ドル）より65％増加した。若い世代が競馬に興味を示さなくなったため、10年来の傾向を覆す結果となった。
The casino entry revenue came in at just the right time. In 2019, the Casino Regulatory Authority (CRA) increased fees by 50% as it negotiated new deals with Las Vegas Sands and Genting Singapore.After an initial decline in visitor numbers, numbers have recovered.
With COVID-19 mostly in the rearview mirror and Duopoly back, the increase is paying off.However, with the official launch of the Gambling Regulatory Authority this August, the CRA no longer holds the torch of industry regulation.
World Cup boosts gambling
The World Cup will undoubtedly boost Singapore's sports betting industry.However, it has also led to an increase in illegal gambling.Illegal gambling is being cracked down around the world, and Singapore is no exception.
Police have arrested 20 people across the country this week for their involvement in illegal sports betting and gambling.Nineteen men and one woman are currently facing charges of illegal gambling, involvement in organized crime, and other crimes.
In several house raids in Singapore, authorities closed 70 bank accounts and recovered S$118,000 (US$86,942) in cash.
Three of those arrested have already appeared in court.They face up to 3 years in prison and a fine of SGD 10 (US$70).
Those who place bets with unlicensed or illegal operators can be similarly detained.They could face up to six months in prison and fines of up to SGD6 (US$10,000).
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