Singapore Pools is the only legal lottery operator in Singapore. It was founded in 1968 to curb illegal gambling in Singapore. The company is now government-owned. In the 2021/22 financial year, it reported a 40% increase in betting.
Currently, the largest wagers in Singapore are on sports and lotteries. This includes Toto, 4-D and Singapore Sweep.
IGT has signed a six-year contract with Singapore Pools to provide the lottery system. This central system will support a significant volume of daily transactions.
Lottery Singapore is available online. The website makes deposits to users’ bank accounts. Customers can also pay through Singapore cheque. However, late payment can lead to prosecution.
The resumption of sports tournaments contributed to the increase in betting. Additionally, the easing of COVID-19 restrictions in the 2021/22 financial year boosted the amount of bets on lotteries.
During the previous financial year, the total amount of wagers on lotteries and sports was SGD 6.6 billion. However, this figure increased to SGD 9.2 billion in the 2021/22 financial year.
According to Tote Board spokesman, the sums bet on lotteries and sports increased significantly after the COVID-19 restriction was relaxed. Sports bets alone accounted for $6.6 billion of the total.
The National Council on Problem Gambling (NCPG) surveyed Singaporeans and found that about 44 percent of respondents gambled in the past year. Approximately one percent of these respondents experienced problem gambling.
The National Council on Problem Gambling encourages individuals to take personal responsibility for their gambling. They also work with the Gambling Regulatory Authority to monitor the need for additional measures to address problem gambling.