The Asian gambling industry is taking a step forward as preparations are being made for the launch of the first online gambling site in Singapore. Oddly enough, it was only two weeks ago that the state’s government debated the idea of introducing new laws in order to ban online gambling sites, a move that was supposed to get rid of any potential “source or conduit of funds for other illegal activities and syndicated crime.”
Presently, Singapore Pools is the only lottery product provider trusted under Singaporean gambling laws , so obviously they would be the ones to manage the new internet betting site. The company already owns 300 retail outlets, where players can buy the usual lottery products and place limited wagers on football and motor racing. Phone wagers are also accepted, but only for registered members.
At the moment, passionate gamblers can bet on which football team will be ahead at half-time or full-time, with other betting options including: odd or even number of goals, goal totals, the name of the players who score first or last or the name of the team that scores the first goal. With motor racing, betting options include: name of the winner, fastest lap or even the number of drivers who will complete over 90% of the race.
The current Singapore Pools website lets members to view their account activity, but bets cannot be placed via the Internet. Rumors regarding the new website haven’t yet been confirmed or denied by company officials, but sources say online wagers might be allowed under a strict supervision of identity and credit history. Even so, an online betting site would surely change the face of internet betting in Singapore.
So far, all similar ideas have been rejected by the government, but rumor has it Singapore Pools is taking it up with several government agencies, including the National Council on Problem Gambling.