Despite strict restrictions, online gambling in Singapore is growing at a rapid pace. As the casino market in Singapore touched the mark of $1.8 billion in 2021, Olivia Tan, the Editor-in-Chief at Online Casino 65, decided to delve deeper into the digital gambling landscape of Singapore.
Using her acumen, she tried to shed light on the evolving online casino industry, consumer preferences, and future aspects. Through this article, we intend to provide Tan’s overview of digital betting in Singapore, available opportunities, and challenges one might face.
Historical Overview
Gambling was once legal in Singapore in 1923 under the reign of Britishers. As it promoted gambling addiction and crime, it was labelled as a criminalised activity soon in the next three years. The government framed its first gambling law in the 1960s, through which all illegal betting activities were heavily charged.
The current legal framework around gambling is laid on a similar foundation. Gambling is a highly regulated activity in Singapore. You can test your luck only at government-approved land-based casinos, Marina Bay Sands, and Resorts World Sentosa. Tourists here enjoy free entry, whereas locals have to pay a fee.
They both are highly acclaimed and hold 4% of Asia-Pacific’s total casino market. Due to stern policies and location constraints with land-based casinos, online casinos started mushrooming in Singapore. However, transitioning to online gambling posed challenges like addiction concerns, the risk of underage gambling, and the potential risk of illegal activities or fraud.
Nevertheless, Singapore witnessed a remarkable surge in the use of online casinos during the outbreak of COVID-19. This period highlighted the resilience of online platforms and reinforced the need for robust regulation to safeguard consumers.
Current Landscape
The Gambling Regulatory Authority governs all offline and online gambling activities in Singapore. It works under the Ministry of Home Affairs, formed under the Gambling Regulatory Authority Act of 2022 and the Gambling Control Act of 2022.
The Remote Gambling Act, or RGA, has been in place for online casinos since 2014. According to the RGA, online gambling is strictly prohibited in Singapore unless the provider is licensed and approved by the government. The act requires all operational online casinos in Singapore to obtain a valid license from the Singapore Ministry of Home Affairs to operate legally.
License is granted on parameters like:
- Support for responsible gambling
- Measures for age restriction
- Deployment of anti-money laundering protocols
- Enough data security measures
- Ensuring the integrity of gaming operations
RGA holds the right to block online casino websites that fail to meet its criteria and often impose fines upon the violation of regulations. Each of these actions controls illegal online gambling and frauds up to a great extent and gives punters the confidence to put their money at stake online.
Citizens of this garden city have a mixed perception towards gambling. Some found it a form of entertainment, while many saw it as a social concern leading to addiction and financial harm. Muslim and Christian communities of Singapore have openly condemned gambling in any form.
Olivia Tan’s Insights
While working as Editor-in-Chief at OnlineCasino65, Olivia Tan had a strong hold over the intricacies of the online gambling realm of Singapore. She contributed immensely towards building a reliable knowledge base through her blogs, articles, casino reviews, and many more that punters from Singapore majorly refer to know the ground reality.
Reflecting on the current state of the online gambling market, Tan offers a nuanced perspective.
“The online gambling world of Singapore is expanding and is fueled by a drastic shift towards digital platforms and reformed consumer behaviour. The people of Singapore are confident to raise the stakes as robust security measures are in place through RGA. The convenience of accessing online gambling remotely is unbeatable, and we’re likely to witness great acceptance for online casino games. However, operators need to behave responsibly to sustain in Singapore. Laws and governments have their eyes on them, and any negligence on their part will lead to heavy penalties”.
OnlineCasino65, along with Tan and her team, is navigating the existing gaming environment by prioritising consumer trust, regulatory compliance, and responsible gambling practices. The platform aims to provide reliable information about the Singapore online casino ecosystem so that interested punters can make informed decisions. They prioritise fostering awareness over fear-mongering.
Future Outlook
Gambling has been a part of the culture for a long time. The fact that the Marina Bay Sands and Resorts World Sentosa created a wealth of $1.13 billion during Q1 of 2023 proves it. Tan foresees new regulatory introductions in RGA with the rise of online casino adoption.
Additionally, she could sense the increased adoption of AI and VR technologies in online casinos to blur the boundaries between land-based and online casinos. The recent release of GRA establishes that the Singapore government is serious about the safety of its citizens. Hence, international online casinos might have an uphill journey while they aim to enter Singapore’s online gambling world. There are strict rules and regulations to meet before commencing the operations.
Market Dynamics
Singapore is part of the Asia-Pacific Online gambling industry, and current market dynamics for this domain are witnessing some positive trends. The year 2020 was the year of disruption for the global gambling domain, including Singapore. Because of the non-availability of land-based casinos, hardcore punters are shifting towards online gambling.
The global online gambling industry is adopting cryptocurrency at a large scale due to its high security and anonymity attributes. Considering the strong focus the Singapore government has on user security, Singapore online casinos might gradually replace fiat currencies with cryptocurrencies like Bitcoin, Dogecoin, and many more. This will take customer safety to a new high.
Online casinos in Singapore will continue offering more live dealer games that impart a real-like gambling experience to players, within their comfort. The opportunity to gamble against a live dealer fosters conviction in punters and increases their enjoyment of gambling online.
Problem Gambling
Online gambling, in Singapore and beyond, requires responsible behaviour on the part of gamblers. That is why responsible gambling is promoted very seriously. The Singapore government understands this fact well and strongly emphasises safeguarding its citizens’ well-being.
Singapore provides substantial support for problem gambling through helplines. Organisations like the National Council on Problem Gambling (NCPG) offer telephonic or web-based counselling to assist problem gamblers.
To spread awareness against problem gambling, government agencies, and non-profit organisations continue arranging awareness programs and campaigns.
Regulatory authorities enforce strict measures to ensure licensed operators adhere to responsible gambling guidelines. To avoid excessive betting, players in this industry need to abide by mandatory age verification and KYC compliance, offer a self-exclusion facility, and impose deposit and withdrawal limits.
Through all these collaborative efforts of government agencies and industry operators, the online casino landscape of Singapore tries to combat problem gambling effectively and incubate responsible gambling habits in the punters.
Tips for Players
Online gambling in Singapore is a bed of thrones, and one needs to be extra careful while navigating it. Below, we have a few practical tips from a core industry expert, Olivia Tan, to help interested gamblers have a safe and enjoyable gambling experience.
- Keep your wits with you and choose the right platform. Watch out for factors like license obtained, market reputation, and data security measures that an online casino adopts. Read the reviews about the platform to understand the real-time experience.
- Local payment methods and acceptance of SGD are other factors that will smooth your gaming experience.
- Online gambling has become highly addictive. Hence, it’s important to set betting limits and avoid mindless betting. Take regular breaks and avoid chasing wins, as luck dominates here.
Final Thoughts
Singapore is one of those countries that understands the good and bad aspects of online gambling. Instead of discarding it completely, the Lion City has made efforts to make it as safe as possible.
GRA fully regulates land-based casino gambling, while RGA has a hold over online gambling activities across the country. By perpetual focus on safety and regulation, this country is redefining online gambling for both citizens and tourists.
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