Gambling in Singapore is regulated by the Government to prevent money laundering. Gambling firms must be licensed in Singapore to keep betting integrity high. The country banned gambling for many years, but re-introduced regulations in 2010. This move aims to attract tourists while maintaining the integrity of the betting industry. Despite the ban, gambling is still popular among Singapore residents.
Pre-requisites for joining an online sportsbook in Singapore
If you're planning to place bets on sports online, you'll need to create an account. As Singapore is renowned for its land-based casinos, the rules for online gambling are similar to those for land-based casinos. This means that you'll need to be at least 18 years old and be a resident of Singapore. You'll also need to have a local phone number.
Before you place your bets, you need to find an online sportsbook in Singapore that offers a good selection of sports. You'll find some sites with a large selection of sports, while others have smaller collections. Larger selections tend to be better, as they offer more betting options.
Requirements for depositing and withdrawing money
There are several factors to consider when choosing a sports betting site in Singapore. First of all, a good site will adhere to the laws of the country. Gambling is legal in Singapore but heavily regulated. This means that betting sites must be regulated and licensed. Furthermore, a licensed site is more trustworthy and reliable.
Besides the main sports like football, the best sports betting sites Singapore also offer a variety of games you can wager on, including baseball, hockey, tennis, volleyball, and squash. Other special types of bets are also available, such as television shows and elections.
Bonuses offered by bookmakers in Singapore
The best sports betting sites Singapore are known for their competitive odds and bonuses. They offer ongoing promotions for existing members, such as accumulator insurances, enhanced odds, and multi-tier loyalty programmes. Many bookmakers in Singapore also provide customer support round the clock, which is an important feature for online bettors.
Most sports betting sites in Singapore accept major credit cards, including Visa and MasterCard. It is also important to choose a site that accepts local SGD currency. In addition, you should be aware of the speed of payouts. Most bookmakers in Singapore offer welcome bonuses in the form of matched deposits or free credits.
Legality of online sports betting in Singapore
The Remote Gambling Act of 2014 declared online gambling illegal in Singapore, but Singapore Pools granted an exemption for online sports betting and online lottery services. Regardless of whether or not sports betting in Singapore is legal, many Singaporeans have accounts with offshore sportsbooks, such as Bet365, Ladbrokes, and William Hill. There are also many international sportsbooks that accept new customers from Singapore, and many are offering online betting to Singaporeans.
In 2016, Singapore began cracking down on illegal internet gambling. In just one year, over 120 people were arrested for illegal online gambling. The Remote Gambling Act, passed in February 2014, was intended to crack down on illegal gambling. It resulted in the blocking of hundreds of online gambling platforms. While the law does not outlaw gambling completely, it makes it illegal to accept any bets from foreigners.
Favorite sports to bet on in Singapore
Whether you prefer betting on local or foreign sports, there are plenty of options available to suit your betting style. For example, if you are into Rugby Union, you can choose between European and Asian odds. Generally, European odds are more easily understandable. You can also place bets on motor sports.
The Singapore sports betting market is particularly popular when it comes to horse racing. The local racing industry has long been a big business, and the prestigious races bring in millions of dollars in gambling revenue every year. There are several online betting sites in Singapore that offer horse racing betting. You can wager on a horse to win, or place a bet on whether it will finish first or last. Some popular online betting sites include Maxi88.