Singapore Pools
 | |
| Company type | State-owned company |
|---|---|
| Industry | Gambling |
| Founded | 23 May 1968 |
Area served | Singapore |
Key people | |
| Revenue |  S$10.1 billion (2023)[2] |
| S$7.536 billion (2023)[2] | |
| Owner | Government of Singapore |
| Parent | Tote Board |
| Website | www |
Singapore Pools (Private) Limited is a state-owned lottery subsidiary company in Singapore. As a wholly owned subsidiary of the Tote Board, it is the only operator that is legally allowed to run lotteries in Singapore.
History
Singapore Pools was incorporated on 23 May 1968 to curb illegal gambling in Singapore.[4] It provided Singaporeans with a legal avenue to bet on lotteries, countering the rampant illegal betting syndicates that were present.[5] Since 1 May 2004, Singapore Pools is owned by Tote Board, a statutory board under the Ministry of Finance. Singapore Pool's products and services are regulated by the Ministry of Home Affairs and the Ministry of Social and Family Development.[4]
The company was set up as a 'not for profit organisation' and the surplus from revenue earned are channeled to the Tote Board, which are then used to fund a profile of causes and charities. The funds handled by Tote Board is also used for promoting the local sports and arts scene and also infrastructure projects in Singapore.[6] Some notable infrastructure projects funded by the company includes, the Former National Stadium, Singapore Indoor Stadium, the Esplanade and Gardens by the Bay.[6][7]
Gambling operations
Lotteries
Singapore Pools currently operates three lottery games:
- Toto – a 6 out of 49 lottery drawn on every Monday and Thursday/Friday
- 4D – a 'pick four' lottery drawn on every Wednesday, Saturday and Sunday
- Singapore Sweep – sweepstakes/raffle-style lottery drawn on the first Wednesday of every month
Sports betting
In addition, Singapore Pools is the sole legal bookmaker and totalisator for association football and motor racing betting.
Remote Gambling
On 29 September 2016, the Ministry of Home Affairs announced that Singapore Pools would be granted an exemption under the Remote Gambling Act 2014, allowing it to offer online and telephone gambling for 4D and TOTO lotteries, football and motor-racing, subject to strict regulatory conditions and safeguards to prevent illegal gambling activities.[8]
See also
References
- ^ "Appointment of Mr Kaikhushru S. Nargolwala as Chairman of Singapore Pools (Private) Limited". Singapore Pools. 29 June 2021. Retrieved 3 July 2021.
- ^ a b "Singapore Pools 2023 Annual Report" (PDF). Singapore Pools. March 31, 2023. Retrieved August 1, 2024.
- ^ "Contact Details". Singapore Pools. 5 May 2021. Retrieved 5 May 2021.
- ^ a b "The business of giving: Koh Choon Hui, ex-chairman, Singapore Pools". The Business Times Singapore. September 3, 2021. Retrieved August 1, 2024.
- ^ Singapore Pools, Corporate Profile
- ^ a b "Big hearts, lending a hand". The New Paper. August 9, 2016. Retrieved August 1, 2024.
- ^ "SM Tharman Shanmugaratnam at Singapore Pools 55th Anniversary Celebrations". May 23, 2023. Retrieved August 1, 2024.
- ^ "Singapore Pools to be issued Exemption Certificate for Remote Gambling Service". Singapore Pools Website. Retrieved 29 September 2016.
External links
- Official site
- Singapore responsible gambling - Promotes responsible gaming and contributes a significant portion of its earnings to charitable causes across the nation