After receiving a three-year exemption under the new Remote Gambling Act last month, Singapore Pools has reportedly announced that its new online gambling service has gone live offering Singapore punters the ability to place wagers on a variety of games.
According to a report from the Yahoo! Finance news service, the state-owned lottery firm’s latest service began operations on Tuesday afternoon with online versions of the 4D and Toto games while competitors can additionally now wager on sports such as football and Formula 1.
Before enjoying any of its games, Singapore Pools patrons must visit a retail outlet in order to verify that they are at least 21 years of age while provisions in the new Remote Gambling Act ban the service from offering casino-type games online such as poker and blackjack.
“Many who like our lottery and sportsbetting games play for just a little flutter or social recreation,” read a statement from Singapore Pools. “However, we recognize there may be a minority who may play beyond their means. As such, we have safeguards in place to help create a responsible gaming environment for all. We design and communicate our products in a manner that will not promote excessive and irresponsible play. We have low minimum bet amounts and offer a conservative range of sports bets.”
Local horseracing operator Singapore Turf Club is expected to launch an online gambling service of its own via its ITote platform from November 15 after it received a similar government exemption in September.
Under the provisions of the Remote Gambling Act, the government is to conduct routine audits as well as physical inspections to ensure the domains are providing sufficient player safeguards. These include the institution of gambling limits and daily funding constraints while offering credit is prohibited. Any site that is found to have violated these stipulations could face fines of up to $734,000 per offence and have its license revoked.