Gambling is one of the most popular leisure activities in the Southeast Asian country of Singapore. Last year alone, people in Singapore spent the equivalent of over 12 billion euros on casino visits, sports betting, horse racing and lotteries. And this despite the fact that Singapore only has around 5.5 million inhabitants. So does the population of Singapore have a gambling problem?

Just a few weeks ago, we at GambleJoe reported that gambling addiction is spiralling out of control in Australia. In Singapore, gambling is also widespread and very popular with both locals and tourists. The recently published annual report of the state lottery company Singapore Pools shows that the gaming sector in Singapore generated a total turnover of over 12 billion euros in 2023.

Two casino resorts alone generate revenue of over 3.5 billion euros

The two casino resorts in Singapore alone generated a turnover of over SGD 5.2 billion in 2023. This corresponds to over 3.6 billion euros. On top of this, around SGD 12.2 billion, or around €8.5 billion, was generated in the areas of lotteries, horse racing and sports betting. Compared to the previous year, providers were able to enjoy an increase in revenue of around 7%.

In total, the equivalent of over €12 billion was invested in gambling activities in Singapore in 2023. As Singapore only has a population of around 5.6 million, this means that on average, each inhabitant of the Southeast Asian island state invested the equivalent of over €2,100 in gambling.

Although turnover in the gambling sector is extremely high, the laws in Singapore are extremely strict in this regard. For example, online casinos are completely banned in Singapore. So if you want to play classic slot machines or try your luck at blackjack or roulette, you have to visit one of the two casino resorts. A minimum age of 21 also applies in the land-based casinos. As recently as mid-October of this year, we reported that Singapore is restricting crypto use in casinos.

Singapore is an island and city city in Southeast Asia and only has around 5.6 million inhabitants. According to the Economist Intelligence Unit, Singapore was the most expensive city in the world, at least in 2014. Its inhabitants are also among the richest in the world. In addition, the quality of life in Singapore is considered to be particularly high.

In 2022, we at GambleJoe reported that a gambling addict in Singapore blackmailed his online date.

Singapore receives billions from gambling tax

Of course, it is not only the gambling operators who benefit from the good turnover. Singapore's state coffers also enjoyed tax revenues totalling SGD 2.2 billion last year alone. Converted, this corresponds to an amount of over 1.5 billion euros. A not insignificant proportion of the revenue totalling SGD 437 million (approx. EUR 310 million) was also reserved for supporting charitable projects.

Image source: https://pixabay.com/de/photos/marina-bay-von-singapur-2714866/

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