As COVID-19 restrictions have eased, locals are returning to their favorite forms of betting, significantly boosting revenues across the board.
According to the latest financial report from the Tote Board, which ended in March, Singaporeans wagered SGD9.2 billion (US$6.8 billion) on lotteries and sports betting—a 43% jump from the previous year and the highest figure reported in the past four years.
Casino Entry Fees Add to Revenue
Singapore’s policy of charging locals to enter casinos has also paid dividends. Entry fees generated SGD125 million (US$92 million), marking another four-year high and contributing further to the country’s gaming-related income.
Post-Pandemic Gambling Recovery
During the height of the pandemic, operations at Singapore Pools, the Singapore Turf Club, and the country’s two integrated casino resorts were shut down. Singapore Pools resumed retail operations in June 2020, while other venues reopened later.
Today, the gaming industry is bouncing back stronger than ever.
For comparison, in the 2019 financial year before COVID-19 disruptions, SGD8.1 billion (US$6 billion) was wagered—14% less than the most recent total.
Horse Racing Bets Defy Decline
Even horse racing, which has seen declining interest among younger audiences, experienced a surprising rebound. Last year, SGD818 million (US$602.7 million) was wagered on horse racing—a 65% increase from SGD496 million (US$365.45 million) the year prior.
Regulatory Shifts and Industry Outlook
With the Gambling Regulatory Authority (GRA) officially replacing the Casino Regulatory Authority (CRA) in August, the regulatory landscape has evolved to better address modern gambling trends and challenges.
World Cup Spurs Both Legal and Illegal Betting
Major sporting events like the FIFA World Cup are expected to further drive legal sports betting revenue. However, they also tend to spark a rise in illegal gambling activity.
This week, Singapore police arrested 20 individuals—19 men and one woman—in connection with illegal sports betting and other gambling-related offenses. Authorities seized SGD118,000 (US$86,942) in cash and froze 70 bank accounts during the nationwide raids.
Three suspects have already been charged and could face up to 10 years in prison and fines reaching SGD700,000 (US$515,760). Even those placing bets with unlicensed operators may face penalties of up to six months in jail and fines of SGD10,000 (US$7,368).
As Singapore’s legal gambling industry strengthens, enforcement against illegal operators remains a top priority.
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