The gambling market of Singapore is quite wide. You get to enjoy traditional casino games like Arcade, Slots, etc. and you also get to bet on esports. Furthermore, there are private lottery clubs that are legal in Singapore so you can enjoy those too. If not all this, you can also make bets on different sports like football and horse racing too.
So there are plenty of opportunities for gambling in Singapore. You just need to find the right platform like 12Play that lets you enjoy everything. They have gambling options for various sports (football, horse racing) and esports (trendy games). Likewise, if you are a casino fan, you will get the option of betting in live casinos too.
Be sure to visit 12play2.com and enter the world on endless gambling. They also offer a 4D lottery where you can win different prizes with every deposit of Rm100. So enjoy playing arcade or slots or go easy and win through lotteries.
But this is not all about the Singapore gambling sector.
1. Legalization of gambling in Singapore
Up until 2004, gambling was banned in Singapore because of the ill effects. However, in 2004, the regulatory authorities made an attempt to deal with the ill effects of gambling and use it to gain financial benefits.
Singapore attracts a lot of tourists annually and legalizing casinos will definitely attract more. Furthermore, it can create job opportunities for the people and the government can earn some revenue. So considering all these positive aspects, the Singaporean government worked on the estimation of the cost that they will have to spend on the initiative.
Thus, after proper evaluation and planning, gambling became legal in Singapore on the 18th of April 2005. Furthermore, the government also established the Casino regulatory authority and the National Council for Problem Gambling. These organizations work to improve the casino business while managing the social ill-effects.
Therefore, if someone wants to run a casino in Singapore, he needs to get a proper license from the authority. Even if you plan to run an online casino, you need a proper license. Because there are strict requirements for internet gambling and most of them are considered illegal according to the 2014 legislation.
Only a small number of operators are exempted from this legislation. And they have to meet certain criteria to get that license. So, it is not right to say that online gamble is prohibited in Singapore.
Furthermore, in 2016, the government lifted all the bans from online casinos. So the people have been enjoying playing plenty of games ever since. They don’t have to visit the casinos.
2. Influence of Blockchain technology on online Casinos of Singapore
Cryptocurrencies are changing the way things work. And this is coming true for the online gambling industry of Singapore too. Blockchain technology uses a digital ledger, which is an extremely safe way to deal with transactions. So if anyone tampers with the ledger, the participant will know it. Therefore, changing or hacking blockchain technology and its system is hard for people.
The biggest obstacle in the way of legalizing the online gambling industry was the loss for the government. This happens because of money laundering and poor transactional records. However, this problem is minimized through the Blockchain system.
Transparency of gamble records is also one of the significant areas of concern for the Singaporean government. They legalized casinos and betting to gain financial benefits for the nation. So if something is offsetting this benefit, why would they let them operate? Therefore, online casinos faced huge obstacles on their way to legalization.
However, the blockchain system revolutionaries the transparency and immutability of betting records. As a result, both the gamblers and the regulatory authorities can work with ease. They can trace back the transactions and no one would be at loss. So if an online casino works through the blockchain system, it will be at a benefit.
In addition to the improved security, blockchain technology also encourages international gamblers. So even though the online casinos were once limited, they now attract a huge number of international players. Furthermore, you can easily and safely make transactions with a hidden identity. With Blockchain technology, you will have a private key that will let you stay hidden. So all your account details will be safe with you.
3. Online casino games legal in Singapore
Despite the changes and latest technology, it might take some time for the regulatory authorities to manage all games. Although there are still some restrictions but the number of legal online games is huge. Singaporeans still get to enjoy several casino games online.
So if you want to, you can play online poker, jackpots, buy 4D and Toto lottery tickets. Furthermore, you can also make bets on online soccer, football and some other games. So apart from the casino games, you will have the option of making a bet on the sports categories. Whether it’s a league, a championship or esports, you will be free to make bets and win.
4. No minimum age limit to gamble
The minimum age limit for gambling in Singapore varies with the game and betting activity. Therefore, there is not a single age number that specifies for all. Generally, most of the games have a 1 years of minimum age limit. But some goes beyond that.
For example, if you want to participate in a lottery, like TOTO and 4D tickets, you must be 18 years old. This is also the set age limit for making bets on horse racing. However, pools are different. If you want to play Pools, you must be at least 21 years old.
Furthermore, there is a Casino Control Act that states that you must be at least 21 years old. This age limit is for casino gambling. But again, the age limit varies with the game. So if someone underage is found to be involved in gamble, he will get a fine of up to $1000.