Singapore Online Gambling Legislation

January 14, 2012

If you have an interest in online gambling or live in a western country and enjoy playing at an online casino, then chances are you have picked up on at least a little of the recent happenings which are still rocking the online casino sector.

To summarize quickly, In November the English Government, followed several days later by the Irish Government, stated that they intended to revise online gambling legislation. They both also revealed plans to begin taxing online casinos that do business within their borders in a different way. Two short weeks later, following the PokerStars and Full Tilt Poker debacle in the US, several individual US States have entirely overturned their position on online gambling and are taking steps to make it fully legal.

These moves to legalize online gambling by refining gambling legislation, and thus open the door for increased Government revenue through online gambling tax are shrewd moves by these Governments. In effect, they know they can’t stop it (online gambling) so they are now going to cash in on it.

The Asian online gambling market has a huge potential, and one that is only now beginning to be realized. Singapore lies at the very heart of the Asian online casino sector as the ideal place to do business from in Asia for many online casinos. In effect, Singapore offers a business environment which is much like that which is present in the USA or the UK. It is hands down the safest, most secure Asian country to do business.

Singapore has also recently allowed two real world casinos to open within its borders (which required revisions to gambling legislation to facilitate). In the last quarter of 2011 these casino reported combined revenue in excess of $4.4 billion. Asian gambling is big business.

Certain Singapore Government officials are said to be evaluating the impact of the gambling legislation changes made in both the USA and the UK, with a view to mimicking them locally.

Whilst gambling in any form remains illegal in many Asian countries, if Singapore does legalize online gambling, then it can only be a matter of time before other countries in Asia such as Thailand, Cambodia and Vietnam are forced to legalize gambling or miss out on what could possibly be a huge online gambling tax income stream.

Our prediction for 2012 – The Asian online casino market will skyrocket.

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