Lottery Singapore is one of the best in the world. It offers affordable and exciting games with massive prizes, and it’s easy to claim your winnings. In addition, unlike many other lottery operators, Singapore Pools doesn’t levy taxes on the prizes it hands out. The company is owned by the government, so it already generates revenue from gambling, and there’s no need to create additional income by imposing taxes on winners.
Lotteries in Singapore are operated by the state monopoly Singapore Pools. The company is licensed to offer both terrestrial and online gambling. However, it does not offer sports betting online or via remote communication channels and platforms. This is because the majority of punters who buy lotteries in Singapore do so at retail outlets. Only a small percentage prefers to gamble on their smartphones.
Nevertheless, Lottery Singapore has seen an increase in betting activity as the COVID-19 restrictions are eased. For the Tote Board’s last financial year, which ended in March 2022, a record $9.2 billion was spent on bets on lottery and sports, which is a 43% improvement from the previous year.
The rise in Lottery Singapore betting activity can be attributed to various factors, including the easing of COVID-19 restrictions and the resumption of international sports tournaments. Furthermore, Chinese nationals are the largest group of visitors to the country, and they tend to spend more on lottery tickets than other foreign tourists. The results of the SLP survey are consistent with those reported in official government-run surveys, which show that on average, lottery players spend S$212 a month or S$2544 per year.