The betting industry in Singapore has become a significant contributor to their economy. Its success is continuous. Thanks to Singapore Pools betting odds and Integrated Resorts (IRs) generating billions of dollars yearly.
Here are a few of the common factors that made the betting industry’s success possible:
Legalization and Regulation
Singapore Pools got established in 1968. It was then the only legal betting operator in the country until today. Imposing high taxes and strict legislation to ensure more conducted gambling activities.
All these restrictions have helped generate significant revenue for the country.
Integration with Tourism
Singapore’s IRs have influenced the betting industry’s success. It became possible because of integrating gambling activities with tourism. It offers a range of entertainment options for gambling, such as:
- Shopping
- Dining
- Live shows
- The top two land-based casinos (Marina Bay Sands and Resorts World Sentosa).
This has helped attract a diverse range of tourists to the country. It has boosted the gambling industry.
Technology and Innovation
Singapore’s betting industry has also benefited from technology and innovation. Singapore Pools, like SG88Win, offers online betting services. These bookmakers made it more convenient for customers to place bets.
The IRs have also embraced technology by incorporating features like:
- Facial identification
- Cashless payment systems
- Fingerprint recognition
These upgrades made it possible for foreign gamblers to gamble online.
Responsible Gambling Initiatives
The government’s commitment to responsible gambling initiatives presented its contributions as well. Singapore has implemented various measures to help prevent problem gambling, such as:
- Setting limits on how much money customers can spend.
- Providing support services for those with a gambling addiction.
These are the combination of factors that contributed to Singapore’s betting industry. Nonetheless, gamblers should also be responsible. They can start by knowing what variety of gamblers they are. This is significant since it will help them personalize their betting strategies.
To learn more, continue reading the infographic below, developed by CM2BET:
