For a country that is well-known for its affluent lifestyle and strict laws, it may come as a surprise that Singapore hosts several online casinos. In fact, one of the most prominent ones in the region is integrated right into Singapore’s largest casino resorts.
This is a fascinating development for online gambling in Singapore as it has been illegal until 2014.
What changed?
In 2013, the government announced that they were looking to amend their laws with regards to gaming so that they may gain further revenue for the country’s funds. It was only then that the idea of online betting singapore sites was considered and subsequently passed.
This legalization didn’t come without restrictions. The new laws only permitted state-owned entities to operate casinos within the country, thereby ruling out any third party operators from Singapore such as bet365 or betway. Furthermore, these casinos would be restricted to local residents only in order to make sure that only Singaporeans would be able to gamble.
Yet another restriction that was placed on the local casinos is ensuring that they do not target international players in any way. In other words, all advertisements promoting these casinos must only be directed towards Singapore residents.
The final legal piece of this puzzle was to figure out how these new laws would affect Singaporean players. Again, the government made this matter rather simple – Singaporeans would be able to log into these newly created legal casinos without any hindrances and would enjoy the same gambling experience that they enjoyed before.
Licensing and Regulations
One of the measures used to determine how trustworthy a casino is is whether it is licensed and operated by a country with a good reputation for regulating its gaming industry.
For countries like Singapore, players can be reasonably assured that they will not be cheated out of their winnings with no worries about identity theft or fraud as online betting singapore sites are properly licensed with the Monetary Authority of Singapore (MAS), which is one of the most trusted and respected regulators in the world.
It is important to note that when playing at an online casino website based within this region (Singapore), you are actually gambling within a legal jurisdiction that is regulated by the Media Development Authority (MDA) of Singapore. A quick search on Google will show you the registered license number of each casino, and this can help you judge the legitimacy of each site for yourself.
Lowest Payout Percentage
Another important measure of trustworthiness is how much you will lose if you play with a casino. In the gambling industry, there is a saying that there is no such thing as a free lunch.
The same concept applies to casinos. Most online casinos will pay out only about 85% of the money they receive from gamblers, which leaves a 15% profit for them at your expense. This number is known as the lowest possible payout percentage (LPP), and it varies according to countries’ regulatory requirements.
In the US, for instance, it is around 85%, whereas in Singapore, it can be as low as 68%. The LPP will also vary from game to game or even from casino to casino. If you play Blackjack, for example, your payout percentage might be higher than if you play Roulette. And again, this varies from casino to casino.
Most of the casinos found in Singapore have a payout percentage that is higher than 68%. Each individual online casino will publish its payout percentages, so make sure you check this out before you sign up with them. The best thing about Singapore’s online casinos is that they will tell you their payout percentages on a per-game basis.
Penalties for Illegal Operations
Offenders caught in illegal online casino activities will be punished by law, including hefty fines and jail terms of up to three years or both. Service providers found guilty of providing platforms for gambling with the intent to make a profit will also be fined up to S$200,000. This is in line with Singapore’s commitment to safe and secure cyberspace for its citizens.
With the strict penalties imposed by the judiciary authorities, there is no doubt that online casinos are trustworthy and reliable. There have been no instances of poorly regulated online casinos cheating legitimate players.
With the effective regulatory practices carried out by the Singapore government and its strict law enforcement, gamblers can have peace of mind while gambling on local online casinos. Sign up with one of these reliable online casino platforms to enjoy your favourite games in an enjoyable environment. These gaming companies use advanced security technologies in order to ensure the safety of players’ funds and personal information.
Singapore’s online casinos are legal as long as they fulfil a few requirements set by the Remote Gambling Act. The regulatory authorities, such as the Singapore Police Force, take illegal online gambling very seriously and will track down offenders to make sure that all the laws are enforced.
Singaporean law enforcement agencies work closely with overseas jurisdictions to make sure that all gambling sites operating in Singapore adhere to the laws of the land. The strict regulations in place mean that Singapore is an ideal destination for players who want to gamble online without worrying about getting cheated.
With that in mind, one should have no worries about Singapore’s online casinos being trustworthy and reliable. Most illegal online gambling websites originate from overseas to avoid legal prosecution by the government. Therefore, it is safer to gamble on localized platforms for maximum protection.
Reputation
The reputation of Singaporean casinos has been on the rise for years, and this is evident when you see that even people who don’t gamble will still visit these sites because they know that there is a great chance that they will be able to win big at them. However, there are many people who gamble and like having a good time while doing so.
For this reason, trust has become one of the most important aspects of dealing with an online casino company. It is essential that you know how much trust your current or potential partner really deserves.
Takeaway
In conclusion, Singaporean online casinos are trustworthy because they offer creative games, fair play and safety. However, it is still important for players to be aware of the risks involved so they can keep their money safe and enjoy gambling to its fullest extent.
