Online Sports Facts Betting in Singapore

 Asia is no stranger to the online sports betting phenomenon, but no one could have predicted the extent of sports betting in Singapore. If this introduction has piqued your interest, you can continue reading. If you’re interested in online sports betting or not, this article will provide you with a wealth of information, including the discrepancies between European and Asian gambling.

Singapore’s Remote Gambling Act of 2014

When it comes to remote football betting and gambling within Singapore‘s borders, the government is very concerned. In this regard, the 2014 Remote Gambling Act clarifies that any kind of remote sports betting and any other gambling operation is illegal. Exceptions must be authorised by the Ministry of Home Affairs or the House of Commons.

Famous European online sports betting websites would be unable to enter the Singapore market due to this. All of the major online gambling companies, including Bet365, 888Holdings, and William Hill, agreed to exit the industry as soon as the Remote Gambling Act went into effect.

And it seems that the Singapore government is serious about their Remote Gambling Act: since its inception in 2014, the Ministry of Home Affairs has only granted two exceptions.

You’d think that enacting such a harsh Remote Gambling Act would affect Singapore’s online sports betting industry. Stuff, on the other hand, took a different path. As a result of the Act’s widespread coverage in the media, many Singaporeans have gone to local sports betting establishments to make bets and try their luck.

Like most other parts of the world, Punters in Singapore tend to bet on football over any other sport, with football accounting for 70% of all bets placed.

Horse racing in Singapore, basketball, cricket, rugby, and badminton are the next most common sports, but none of them can match football’s market share. With such impressive numbers, it’s hard not to believe that sports betting is a significant part of Singapore’s online gambling industry. Stuff, on the other hand, are very different. The National Council on Problem Gambling in Singapore has provided us with some data and statistics. They will assist you in comprehending the entire online sports betting phenomenon in Singapore and the effect it has on gambling habits in general.

Numbers of People Betting and Gambling on Sports Online

According to a 2017 survey, 52 percent of the 3000 people who took part said they had engaged in some form of gambling in the previous month. That’s a big jump from the previous survey conducted just before the Remote Gambling Act was passed in 2014. The increase from 44% in 2014 to 52% in 2017 can only be attributed to market regulation, which acts as an incentive for Singapore punters to position their bets on a local sports betting website. The total amount registered by the Singapore Tote Board for wagers on gambling in Singapore was $7.2 billion, up 15% from 2014 before the Gambling Act was passed.

However, as large as the figure can be, the 52 percent figure we get from this survey applies to all forms of gambling, not just online sports betting or gambling. Out of all Singaporeans who gamble, 42 percent prefer the 4-Digit lottery, while 36 percent prefer Toto.

In terms of sports betting, data shows that only 2% of overall gambling activities are centred on this market. As compared to the numbers that major sportsbook firms were registering before 2014, this seems to be a little poor. The percentage may have been much higher, but given the restrictions on betting at remote sites, Singaporeans may be wary of their gambling habits.

Singapore’s online bookmakers

The Singapore Pools and the Singapore Turf Club are the only two online operators permitted to sell their services to Singaporean punters.

Singapore Pools allows customers to put online sports bets on football and Formula 1 races. Singapore Pools’ odds are thought to be fair and competitive, and most local punters believe they can trust their local sports betting provider. Singapore pools also provide lottery services like Toto and 4D, which are more common in Singapore than sports betting.

The other government-licensed online sports betting operator in Singapore is Singapore Turf Club. They are solely focused on horseracing, which is a common sport among gamblers. It has been online since 2016 and has a large customer base, hosting a variety of horseracing competitions in Singapore.