SINGAPORE (Nov 5) — Singaporeans spent a record $12.2 billion on lottery games, sports betting and horse racing in the last financial year, according to Singapore Pools’ annual report released on Nov 5. The government’s legal lottery operator is the only provider of legally regulated gambling services in the country. Its revenues support charitable organizations and community projects, while it promotes responsible gambling.
Singapore Pools’ annual report indicated that the majority of its revenue came from bets on 4-D, Toto and Singapore Sweep, followed by sports betting. The totalisator board, a statutory body under the Finance Ministry, channels operating surpluses from gaming operations into a variety of initiatives in the community.
Founded in 1968, Singapore Pools was created to curb illegal gambling activities and provide a safe, regulated alternative for the public. Its initial focus was on Toto, a lottery game where players can win by matching six numbers from 1 to 49. The company expanded its offerings in 2004 with the launch of sports betting, starting with football and motor racing. This addressed growing demand for legal betting on international sports events.
In 2016, Singapore Pools launched an online betting platform to counter the rise of illegal gambling platforms, and ensured that its digital services offered secure transactions and responsible gambling safeguards. Its online platform also allows customers to set betting limits and self-exclude from online gaming. Besides online betting, Singapore Pools also offers Toto, 4D and sports betting at its physical outlets and authorised retailers in shopping malls, convenience stores and standalone shops.
While many individuals enjoy playing lottery games for the chance to win substantial cash prizes, experts say it is important for players to understand the risk involved in betting on the outcome of a random event. They should also avoid placing bets on high-frequency events, such as horse races and football matches. They should also seek help if they feel that they are struggling with gambling addiction. To play responsibly, individuals should buy their tickets only from authorized sources, such as retail and online Singapore Pools outlets, and never use credit cards. They should also set betting limits and monitor their spending habits. They should not be tempted by advertising or other incentives to bet more than they can afford to lose.