Online sports betting in Singapore has seen a huge increase in popularity over the past ten years, and thousands of residents visit Singapore betting sites on a daily basis. The only problem is that online betting in Singapore is illegal, apart from horse betting Singapore and Singapore football betting services offered by the government-run Singaporean Pools.
While there’s a small risk involved, it’s possible to take advantage of the huge number of online sports betting companies that are happy to offer top-notch services to Singapore punters. As a result, the gambling business in the country has grown rapidly. Many Singaporeans gamble to spend their free time happily and win something at the end of the day.
Sports betting on international platforms has become more popular than the state-run Singaporean Pools, thanks to the expansion of wagering techniques and perks. The high level of convenience, wide range of markets and ease of accessibility makes offshore betting platforms more attractive.
If you spend a significant amount of time researching and putting in a little more effort, you’ll reach a reliable offshore online betting platform.
Before you can sign up with one of the recommended Singapore betting sites and place a bet on your favourite sport, be sure to understand the betting laws, some popular sports to bet online Singapore, and the payment methods (for example – Skrill payments) to use in terms of making deposits. It is also important to know whether you’ll pay taxes on your winnings or not. Read on to discover more.
Is Sports Betting Legal in Singapore?Online gambling services offered by the state-operated Singapore Pools are the only legal form of betting in the country. While Singaporean punters can place bets on foreign online platforms, they can get in trouble with the country’s law.
There is no definite answer to this question as different bookmakers offer different odds for Singapore football matches. However, you can compare the football odds Singapore offered by different bookmakers in this list and choose the one that offers the best odds for the match you are interested in.
In our rating you can find horse racing bookmakers. These bookies offer some of the best horse racing odds in Singapore. So if you’re looking to find horse racing betting Singapore, be sure to check out these bookmakers first!
Singapore opening odds are the initial betting odds that are set for a particular event. These odds can change over time as more bets are placed and more information becomes available, but they represent the starting point for betting on an event.
Closing odds are the final betting odds that are set before an event begins. These odds take into account all of the bets that have been placed and all of the information that is available, and they represent the final chance to bet on an event.
This is a difficult question to answer definitively because the laws in Singapore are constantly changing and there is no clear consensus on what constitutes “online betting.” However, it is generally believed that online betting is not currently legal to bet in Singapore.
β Yes, you can bet with Singapore Dollars on online betting sites. There are a few online betting sites that accept Singapore Dollars as a currency, including 888starz, 1xbet, and Megapari.
However, the chances of getting in trouble with the law are very minimal since the Singapore Government has no ability to prevent offshore sports betting platforms from offering their services to the residents.
The law only permits physical casinos to operate in the country. And that means it outlaws any other forms of online betting Singapore.
What are Popular Sports to bet on in Singapore?For Singapore sports betting, punters can choose from a massive array of sports. However, some are more popular than others. That said, here are the most popular sports to bet on in Singapore.
Football is the most loved, watched and bet-on sport in Singapore. While there are local football competitions like Singapore Premier League that online bookies offer, many Singaporeans also choose to bet on popular international events such as La Liga, the English Premier League, the Champions League and Europa League. Also, punters from Singapore bet on large international events such as the Euros and the World Cup.
In terms of regional tournament betting, Singapore cricket is the real deal. The country is always at the top whenever playing against India, Malaysia and many other countries.
Online sportsbooks offer the opportunity to place bets on different cricket events, including domestic leagues, ODIs, test matches and the Indian Premier League. Singaporeans can also place wagers on international sporting events like the Cricket World Cup.
Aside from football and cricket, basketball has also retained its popularity in the country. Singaporeans love basketball since their national team has, in most cases, done excellently in regional competitions.
Punters can also place wagers on large basketball competitions across the universe at offshore online betting sites. In addition to North America’s NBA, some sportsbooks also offer betting on Asian and European basketball tournaments.
Singaporean badminton players regularly earn medals at large and major competitions. The skill and thrill of the sport attract major interest from players as well as bettors. Due to this, Badminton has become a very popular and common market for online bookies that accept Singaporean punters.
These bookies will always offer generous bonuses and promotions around huge badminton tournaments and events.
Do Bettors Have to Pay Taxes on their Winnings?In Singapore, any winnings don’t attract a tax. According to the Singapore Government, winnings refer to any money received from betting activities or lotteries like casino, fruit machine jackpot, online horse betting Singapore, Singapore Sweep, football, Toto and 4D.
Winnings received from these gambling forms aren’t taxable since Singapore considers them windfalls and not income.
As a resident, you don’t need to declare your sports betting winnings in your tax returns, whether you’re playing in physical gambling destinations in the country or placing bets on offshore betting platforms.
Which Payment Methods Make Deposits to Singapore Betting Sites?Online sports betting in Singapore easier and straightforward thanks to how simple and quick it’s to make deposits. A wide range of payment options is available to Singaporean punters to pick from. Here are the most popular payment methods you can use to make deposits to online sports betting Singapore sites.
Electronic wallets are popular among Singaporean players because of various reasons. They are safe and allow them to make instant deposits. PayPal, Skrill, and Neteller are the most popular types of electronic wallets that sports betting online Singapore websites offer.
If a Singapore online sportsbook offers a welcome bonus, you should be sure to check if using electronic wallets will allow you to claim it. Most electronic wallets don’t qualify for welcome deals on most betting platforms.
All Singapore-friendly sportsbooks accept different types of cards. Most of them accept deposits through credit and debit cards like MasterCard, Maestro, Visa and American Express.
However, some card payments of punters from Singapore are sometimes blocked because Singaporean banking institutions are instructed not to complete transactions to offshore-based betting sites.
Punters from the country are advised to use alternatives such as Entropay. This is an online prepaid card by Visa that many foreign sportsbooks support. If you can use a card option, then you can be sure to claim welcome bonuses at most offshore betting sites that operate in Singapore.
Deposits made through digital currencies boast the highest success percentages since cryptocurrencies are decentralised and don’t fall under any jurisdiction’s regulations and legislation (check the list of the best crypto betting sites).
Singaporean bettors have a massive range of digital currency options to pick from, including popular ones like Ripple, Ethereum, Litecoin, Bitcoin, and Bitcoin Cash, among others. The best part is that these digital currency options provide the much-needed security and anonymity that most Singaporean gamblers need.
ConclusionEven though the rules governing sports betting in Singapore only allow Singapore Pools to offer gambling services, this doesn’t suggest that there aren’t many options available to punters who’re interested in placing bets. Various well-known and widely used offshore online bookies are now accepting players from Singapore.
Singaporean punters currently have access to a vast array of markets, significant bonuses and promotions, top-notch customer care services, friendly payment methods, secure Singapore betting sites, and more appealing Singapore betting odds. Additionally, they allow punters to bet in Singapore from anywhere and at any time.
Sportsbooks that offer these services are growing and getting more and more popular, making it difficult to pick the right one. Before you can sign up for an account with any of these online betting websites, ensure you go through the recommended list of sites. All recommended sites offer a risk-free betting experience to all punters from Singapore.