Regulating the Casino and Gambling Industry
While the ban on casinos was lifted in 2005, the industry remains highly regulated, leaving Singaporeans with few opportunities to legally gamble. The country has gotten more tolerant of land-based gambling but has maintained a tight grip on online casinos.
Gambling Regulations in Singapore
Unless offered by businesses licensed by the relevant authorities, online gambling is currently illegal in Singapore. Those who are caught engaging in unlawful online gambling suffer severe consequences, with additional punishments being imposed by local authorities.
That said, one does not simply visit a casino site and carelessly claim an online casino Singapore free credit without knowing how the gambling regulations work in the country.
In Singapore, the gaming sector is heavily governed by a handful of laws. Singapore Pools is the only company in the country with permission to sell lottery tickets at this time. Integrated resorts are the only ones allowed to host casinos.
A brief look at the history of gambling in Singapore
Gambling in Singapore was permitted in 1923 when the country was still ruled by the British. However, as a result of a surge in cases of gambling addiction, gambling was once again made illegal after only three years.
For decades, practically all kinds of gambling were illegal in Singapore save for state-run lotteries and horse racing. In 2005, Prime Minister Lee Hsien Loong announced the opening of two casino resorts, Sentosa and Marina South, which radically altered the gaming landscape.
These two initiatives were started to help the economy compete with those of other countries that were also thinking about legalizing casinos. As a matter of fact, these casino resorts are responsible for the addition of over 35,000 jobs, and the gaming industry as a whole has invested over $7 billion.
Singapore’s Online Gambling Regulations
Singapore has de facto authorized various forms of land-based gambling. Regrettably, this does not hold true for internet casinos, even if it happens to be the most trusted online casino Singapore site, as the country has instituted stringent rules prohibiting all forms of remote gambling.
The Remote Gambling Act, which came into effect in 2014, governs this industry. It lays forth the parameters under which internet gambling is permitted in Singapore and how unlawful operations are prevented.
Social games and mobile apps that allow users to buy virtual currency or in-game currency during play are the few exceptions. To qualify for the exemption, a social game must not include any mechanisms for exchanging virtual goods and services for their physical or monetary equivalents.
With certain operators meeting certain requirements, online gambling in Singapore is permitted. Only Singapore Pools and Singapore Turf Club have been granted permission to provide internet gaming services at this time. As a result, Singaporeans have essentially no legitimate options for engaging in internet gambling.
The Casino Control Act
In 2006, lawmakers passed the Casino Control Act, which resulted in the formation of the Casino Regulatory Authority (CRA). The Singapore Gaming Board is responsible for overseeing the legality and integrity of the country’s casino industry.
The CRA is also responsible for overseeing the country’s casino business, making sure that all necessary precautions are taken to ensure the public’s safety.
Singapore’s government is considering merging the CRA and CRU (Casino Regulatory Unit), the body responsible for regulating remote gambling and slot machines in the country, in light of the rapid changes taking place in the gambling industry.
Several laws in Singapore oversee different types of gambling and ensure that they are conducted fairly and legally. While gambling in its various forms is generally prohibited in Singapore, there have been a few notable exceptions over the years.
Players who want to wager on events not covered by the Singapore Pools and Turf Club will have to make do for the time being with offshore sites that have been granted a license to operate by gambling authorities. Solarbet is definitely the best online casino Singapore website where players can play safely.