While everyone was pointing their attention to the European online betting and gambling markets and all the regulations updates or gambling acts being approved, all the way across the globe, the Asian online sports betting industry gave a new meaning to the word ‘growth’. It is true, Asia was no stranger to the online sports betting phenomenon, however, nobody would have imagined the levels of sports betting Singapore has come to know. If this introduction is news for you than you really need to keep reading because no matter if you’re interested in the entire online sports betting Singapore scene or you’re just curious to learn on the differences between European and Asian gambling, we’ve got a whole lot of interesting facts and figures for you.
Remote Online Sports Betting – Singapore is Very Restrictive
The government of Singapore is very serious when it comes to remote sports betting and gambling on the territory of Singapore. In that regard, the Remote Gambling Act that was passed by the Parliament on the 7th of October 2014 clearly states that any form of remote sports betting and any other gambling activity is strictly prohibited. The only exception that can be done from this rule has to come either from the Ministry of Home Affairs or directly from the Parliament.
This makes it virtually impossible for online sports betting Singapore websites that are popular in Europe to penetrate the Singapore market. So, as soon as the Remote Gambling Act went into effect, all the big online gambling operators such as Bet365, 888Holdings or William Hill have decided to immediately retreat from the market.
And it seems like the Singaporean government is very serious regarding their Remote Gambling Act since starting 2014 when it’s in effect, there were only 2 exceptions made by the Ministry of Home Affairs. These two exceptions were publicly announced in September 2016 and they regard the Singapore Pools and the Singapore Turf Club as the online remote operators being allowed to function.
Incredible Results for the Local Online Sports Betting Websites and Other Forms of Gambling
You’d think that such an aggressive Remote Gambling Act would have some effect on the internal online sports betting Singapore activity, however, things evolved in a very different manner. All the media coverage of the Act resulted in many Singaporeans to head over to the local sports betting establishments to place their bets and test their luck. Similar to most of the regions on the globe, punters in Singapore prefer football bets over any other sport with a shocking majority of 70% out of all the total bets.
Next in line lays horse racing, basketball, cricket rugby or badminton but none of them can really compare with the market share that football enjoys. With such great statistics, you would be forced to believe that sports betting is a great part of the entire Singaporean online gambling business, however, things are quite different when you take a step back and look at the big picture. In the following paragraph, we are going to go through some data and statistics presented by the National Council on Problem Gambling in Singapore. These will help you get a better understanding on the entire online sports betting Singapore phenomenon and the impact it has on the overall gambling preferences.
Online Sports Betting Singapore and Gambling in Numbers
According to a survey from 2017, there are more Singaporeans over 18 years of age that are into gambling and online sports betting than the ones that are not. 52% out of the total of 3000 people that participated in the survey responded that they had taken part in a form of gambling in the previous month. That’s a massive increase compared to the last run of the survey, just before the Remote Gambling Act was passed, in 2014. The raise from 44% in 2014 to 52% in 2017 can only be attributed to the regulation of the market acting as an incentive for Singapore punters to use the local sports betting website to place their bets. The total figure reported by the Singapore Totalisator Board for wages on gambling in Singapore was $7.2 billion, representing a 15% increase compared to 2014 before the Gambling Act.
However, as huge as it may seem, the 52% figure we are getting from this survey refers to any form of gambling, not strictly to online sports betting Singapore or gambling. Out of the people that gamble in Singapore, an overwhelming 42% enjoyed 4-Digits lottery, while 36% preferred Toto. Next in line, you have Singapore sweep
Regarding sports betting, Singapore data shows that only 2% out of the total gambling activity concentrated on this sector. And, truth be told, 2% seems a little low if you compare it with what the big sportsbook companies were registering before 2014. That number could be a lot higher in reality, however, with all the restrictions in place regarding betting at remote sites, Singaporeans might not be so open about their gambling behavior.
Online Bookmakers in Singapore
As previously stated, the only two online operators allowed to offer their services to punters in Singapore are the Singapore Pools and the Singapore Turf Club. They have been the beneficiaries of an exception from the Remote Gambling Act coming directly from the Ministry of Home Affairs and, since 2016, they are operating inside Singapore.
- Singapore Pools – offers their customers the possibility to place online sports bets on football and Formula 1. The odds offered by Singapore Pools are considered to be fair and competitive by the local punters and most of them said they can trust their local sports betting provider. Singapore pools also offers lottery services such as Toto and 4D, which are more popular than sports betting in Singapore. There are no online casino games allowed here, however, the software platform delivered by OpenBet allows for such games to be added on a later date, considering the regulations will be more relaxed.
- Singapore Turf Club – the other government licensed online sports betting Singapore operator in Singapore. They strictly focus on horseracing, a sport that enjoys a lot of popularity among punters that like to place their bets online. It is online since the 15th of November, 2016 and it enjoys a solid customer base, hosting a lot of different horseracing competitions across Singapore.