Making Money Secrets Betting On Sports In Singapore

June 25, 2020, by Arnaldo Brito

Some Making Money Secrets Betting On Sports In Singapore

Singapore is a city-state located in Southeast Asia. For decades, it has prohibited its citizens from participating in gambling like Thailand and Vietnam. The laws implemented have made sports betting, both physical and online, in illegal activities. The authorities impose strict limits on the gambling sector's activities. This has not prevented Singapore from being the third-largest betting area in the world, after Las Vegas and Macau.

So, are you a punter who wants to place wagers in Singapore? Then, here we will give you some tips and secrets to make money betting on sports in this country.

How you can make money betting on sports in Singapore

The Remote Gambling Act was a law enacted in 2014 through which it was made illegal for Singaporean citizens to intervene in any type of distance gambling. This includes any game through the Internet, radio, television or any other media. In that sense, sports betting and all gambling in Singapore are illegal unless they are made through the government-authorized operators.

In 2016, two companies obtained licenses for online betting activities: Singapore Pools and Singapore Turf Club. Both operators specialize in organizing lotteries and bets. Despite having two of the largest and most luxurious casinos in Asia, betting on sports in Singapore can be challenging for residents of this city-state. On the other hand, foreigners have no problem betting on Singapore's casinos. When gambling in Singapore, your cash winnings are not taxable. The Singapore Internal Revenue Authority collects casino operators' taxes on their gambling income instead of player earnings. Officially, all types of online games are prohibited; however, it is possible to bet on the Internet.

Where can you place your online bets in Singapore?

The Singapore government has also blocked many of the most popular global sites. Yet, there are many easily accessible online sportsbooks websites options. You can log in by using proxy and VPN servers that virtually change your location. All sports betting websites accepting Singapore punters are abroad, outside of the jurisdiction of their government.

Are you one of these punters? Therefore, it is essential for your safety that you place your bets only on regulated and recognized online sportsbooks. In this regard, you should know that trusted sports betting websites show their credentials on their landing page. Many of the most reputable British bookmakers now offer online betting accounts in Singapore Dollar (SGD). Besides, they offer bonuses and better odds than those offered by Singapore Pools. When using foreign online bookmakers, you will usually have two depositing options. The first is to use Internet banking. By setting up an account on the betting site, you can deposit through bank transfers online. The central banks of Singapore can be used. The second option is to configure an e-wallet. For this purpose, the Skrill.com website is widely used.

Despite strict legal regulations, the business of sports betting and gambling has grown tremendously. Can you imagine the size that this industry can reach without these legal limitations? Or maybe these prohibitions stimulate gambling and sports betting?

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