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EXEMPTIONS TO SINGAPORE ONLINE GAMBLING BAN
Wednesday July 8,2015 : EXEMPTIONS TO SINGAPORE ONLINE GAMBLING BAN SOUGHT
Singapore Pools and the Singapore Turf Club want to offer online sports betting.
It seems that the blanket Singapore ban on remote gambling imposed earlier this year might be loosened in time for local monopolies to benefit from the 2016 European football championship games.
Reports across Asian media claim that Singapore Pools and the Singapore Turf Club (STC) have applied to be exempted from the draconian remote gaming laws, and that Singapore Pools has confirmed that it has hired British online gambling specialist OpenBet, which already provides online gambling software for major bookmakers such as William Hill, Paddy Power and Betfair, to help replace its current website with one which can offer sports betting.
The Singapore government has set a deadline of August 1 this year for local lottery operators to apply to the Ministry of Home Affairs for exemption under the Remote Gambling Act, which came into force on Feb 2.
The Ministry has confirmed that both Singapore Pools and STC have applied for certificates of exemption in order to "offer remote gambling services for their existing products". Officials said that the applications will take nine to 12 months to evaluate, and that applicants must be "not for profit" organisations.
Strict regulations regarding responsible gambling and money laundering will be applied.
Singapore Pools offers football and motor-racing betting, as well as lottery games, and STC takes bets on horse races.
One newspaper, the Straits Times, claims that $10 million has been budgeted for a new dedicated online gambling website for Singapore Pools, constructed by Openbet.
"A steering committee, led by Singapore Pools chief executive Seah Chin Siong, has been set up to oversee the operator's sports business and IT teams, which are working towards getting the site up and running in time for the Euro 2016," the Times reports, adding that a team from Openbet will be travelling to Singapore next week.
The Singapore online gambling market was estimated at around $500 million in 2014 prior to the government ban via the Remote Gambling Act. Under the Act, several hundred websites which provided remote gambling services were ISP blocked, with financial restrictions imposed through the local banks and credit cards suppliers.
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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