Reports SPORTS-BETTING ASIA - PART 2
SINGAPORE
Singapore is governed by two main gambling laws – the Common Gaming Houses Act and the Betting Act. Both make it illegal for private companies and individuals to operate online as well as land based bookie businesses within the country. Te only legal way to bet on sports and horse
racing events is via Singapore Pools and the Singapore Turf Club. Te Betting Act was introduced in 1960 to stop
illegal bookmaking and make sports betting in public places illegal whilst the Common Gaming Houses Act was passed in 1961 with the same objective. Singapore Pools was created seven years later
with the monopoly on lottery, sweepstakes and toto and in 1999 the government permitted betting on football matches, followed by betting on Formula One in 2008. Casinos were legalised in Singapore in 2006
under the Casino Control Act which permitted two casinos – Resorts World and Marina Baby Sands. Today Singapore has one single government
approved bookmaker which is Singapore Pools. Tis was set up by the government to specifically manage gambling in Singapore. Gambling has existed for years in this country and right up to the 1970s organised crime was the domain of the Chinese triads. Te company is 100 percent owned by the
Singapore Tote Board which reports to the Ministry of Finance. Te betting services are monitored by the Ministry of Home Affairs and the Ministry of Social and Family Development. Te Singapore Tote Board was set up in 1988
and also operates horse racing through its agent and proprietary club the Singapore Turf Club plus lottery games - 4D, Toto and Singapore Sweep and sports betting - via agent and wholly owned subsidiary Singapore Pools. Last year the Singapore Tote Board approved of a total of $530m in grants in 2014. Singapore Pools was set up in 1968 in a bid to
P106 NEWSWIRE / INTERACTIVE /
247.COM
SINGAPORE POOLS REVENUES 2014-2015 PRODUCT
Lotteries and other Products Turnover
Prizes/dividends paid
Betting tax to government Commission Paid
Revenue from Lotteries and other products Investment and other income Total Revenue Expenditure
Surplus before tax Tax Expense
Surplus after tax
provide a safe outlet for gamblers, neutralise the syndicates and illegal activities and of course channel funding back into charitable causes. It was acquired by and became an agent of the Tote Board in 2004. Since its formation it has provided a regulated
environment as a socially responsible gaming operator and as a non-for-profit organisation
FY2015 $m FY2014 $m 6,797
(4,623) (1,606) (46) 522 5
527
(134) 393 (2)
391
6,343 (4,241) (1,340) (44) 718 3
721
(123) 598 (4)
594
has distributed funds to various good causes in sports, charity, community development, education and health sectors. Te company has helped fund the Singapore
National Stadium back in 1973, the Indoor Stadium, and the Esplanade-Teatres on the Bay. Tey sponsor nationwide events and contribute around $2bn annually to the
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