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Singapore online sports betting

Singapore government is likely to allow online sports betting in October 2016

Foreign sources have informed Slotegrator that government of Singapore wants to legalize online sports betting as early as October this year. Currently, the Ministry of Internal Affairs of the country is processing applications for remote gambling activities from major lottery operators – Singapore Pools and Singapore Turf Club.

In the middle of September Singapore Pools and SingaporeTurfClub submitted applications to the MIA in order to obtain permits for delivery of online gambling services on the territory of Singapore. In terms of applications Pools requested for a permit to accept online wagers on football and car racing, Turf Club – online wagers on horse racing. The results of application processing will be revealed in the nearest future. According to representatives of lottery companies, operators are planning to start accepting online wagers in a month – in the middle of October.

The companies are on the balance sheet of the Singapore Totalisator Boardunder the Ministry of Finance.The Board makes allocations for social needs from revenues of lottery operators. These actions comply with the statute that was passed in February 2016 – the Remote Gambling Act. According to this Act, online gambling services can be rendered only by those companies that fund charities, social projects and other social needs of the state.

Later Slotegrator found out that Greek authorities have plans to adopt new regulations of obtaining permits for online gambling activities on the territory of the state. The Deputy Minister of Finance of Greece Trifon Aleksiadis states that regulations have been already approved and within a month will be published on the official website of the Ministry.

According to the official, new regulations will imply stricter normative standards for operators and payment companies that run gambling activities. Meanwhile Slotegrator does not know the exact number of operators that will obtain new permits.

 

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