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Singapore is a country which is populated by avid sports fans and many of them enjoy placing a wager on their favourite clubs, teams or players. The country stages a number of sporting events each year including Formula 1 and regular race-days at Kranji racetrack. (Singapore wikipedia link)
Sports Betting in Singapore
For many years, betting was largely unregulated and there were numerous outlets accepting wagers however it all changed in 2014. With the rise of foreign companies, many of whom targeted players in Singapore, the law was changed and all online gambling was restricted to just two companies.
Is Online Gambling Legal in Singapore?
Betting online is legal in Singapore but it is heavily restricted at the time of writing. In 2014, a law was passed which made it illegal to place any wagers remotely. Any form of remote gambling, by phone, online or via TV could result in prosecution. Fines of $5,000 and a possible jail sentence are listed as the forms of punishment for anyone who is found to be participating in or facilitating gambling.
There are just two companies who accept legal wagers: Singapore Pools and Singapore Turf Club and these offer a limited number of sports and lotteries. They do not offer casino-style games although there are many land-based establishments which offer these opportunities.
Many overseas sites are now blocked and cannot be accessed from Singapore.
Singapore Pools prides itself on being simple and safe for Singaporean bettors and it allows multiple betting opportunities. Winnings are often automatically sent to bank accounts, cutting out the middle man.
The state-owned company are committed to responsible gambling and apply a daily expenditure limit as well as a daily funding limit.
In the near future, Singapore Pools are set to take over Singapore Turf Club’s operations and will be responsible for all racing wagers including on-course betting at Kranji.
Singapore Turf Club
For over four years, the Singapore Turf Club had been solely responsible for all horse racing betting. Due to cost cutting measures, that will be transferred to Singapore Pools at the beginning of 2019. The Turf Club will still be responsible for daily horse-racing operations and maintenance of the course will still come under the Turf Club’s remit.
What Sports are Popular in Singapore?
Soccer is one of the biggest sports in the world and it is extremely popular in Singapore. The 2018 World Club was one of the most-watched events throughout the country and it attracted millions of wagers. Every single match was priced up by Singapore Pools and thousands of residents opened accounts purposefully for the tournament.
The Premier League is also extremely popular and Singapore sports fans enjoy wagering on the weekly fixtures. They can also place pre-season bets. International tournaments such as the Asian Cup are understandably popular with bettors as well. The S-League is also increasing in popularity and attracts decent crowds, many of whom enjoy a pre-match wager on the game.
On any given day, there will be at least ten different matches priced up and several different markets available on each game. Live betting is also available on a number of key matches from Serie A, La Liga and the Premier League.
In 2018, the Singapore Grand Prix attracted its biggest crowd in a decade and the sport continues to go from strength-to-strength. With the race being staged in the evening, it is one of the more unique offerings on the Formula 1 calendar and it is a big deal to sports fans.
As a result, wagers on the sport have increased and Singapore Pools offer odds on each race throughout the season. Bettors can explore a number of different markets and also have a pre-season wager on the drivers and constructors championships.
Horse racing has always been popular in this part of the world although Kranji racetrack has certainly helped increase the interest in recent years. It has been in existence since 2000 and attracts bets worldwide. Online bookmakers across Australia and Europe also take bets on the racing from Singapore.
The Singapore Airlines International Cup is one of the most wagered events of the season.
Singapore Pools are also looking to expand their offering with key races such as the Arc, the Derby and the Melbourne Cup shortly to become available to punters in Singapore.
What Markets are Available in Singapore?
Match Outright – This is the most popular way of betting and is a very simple way of playing any football match. This simply requires punters to predict which of the two teams will be victorious or whether the game will end all-square. This is also sometimes displayed as 1X2.
Correct Score – Soccer fans can narrow down the field and predict correct scores on each game. These will pay out at far greater odds although they are often difficult to land and can easily be scuppered by a last minute goal.
Asian Handicap Markets – These are a little more complex and can often be difficult to understand for novice bettors but these allow punters to hedge their bets. Many of these markets will still pay-out at half the odds and see a return of stake if unsuccessful. It’s quite technical and allows one of the teams a head-start.
To Win / Each-Way – For horse racing bettors, this is the most popular market. It simply requires bettors to select the winner of any given race. Each-way allows a little more flexibility and will pay-out at ¼ or 1/5 of the odds if the selected horse finishes second or third.
Race Winner – Formula 1 fans have numerous markets to explore but the race winner market remains the most popular. This is simply predicting which driver will take the chequered flag in each contest.
Types of Bet
Single Bets – This is the simplest way of betting and is just a case of predicting one outcome. This is ideal for players who wish to have the occasional sports wager. Savvy bettors tend to stick to single bets as they are more likely to result in profit as opposed to multiple betting. Multiple single bets can be placed on the same game.
Multiples – This is a popular way of betting and allows bettors to include several different matches in their wager. These are usually reserved for weekends when there are numerous fixtures to choose from. All selections must win in order to receive a pay-out
In-Play – In-Play betting is a fairly recent phenomenon and has become increasingly popular over the last decade. This allows players to place a wager once the game has begun. Soccer fans, who are watching the game can now enjoy an online punt at half-time or mid-way through the first half.
Popular Payments in Singapore
Internet banking is the most popular way of depositing into an account and is used by the majority of the Singapore bettors. Most banks in the country will allow transfers between accounts and it is possible to change the currency if desired.
Other options include Skrill.com which is an online e-wallet and it allows bettors to transfer money between accounts quickly and efficiently. There is no additional charge for using this method.
VISA debit and credit cards may also be used with Singapore Pools and are starting to become increasingly common amongst punters.
Payments are made very quickly and pay-outs will be completed within 48 hours.
Sign-Up Bonuses in Singapore
Unfortunately, there is currently no free sign-up bonus available for players who join Singapore Pools.
Bettors who wish to sign-up for a Singapore Pools account must submit a number of details in order to compete the registration process.
All players will require an FIN (Foreign Identification Number) in order to compete the registration although Singapore nationals living abroad will not be able to sign-up for an account whilst overseas.
All new players will need to visit one of the branches or participate in a video call in order to verify their identity.