With the ink still fresh on Singapore’s online gambling ban, operators are already moving to exit the market.
The Remote Gambling Act, a tough new measure incorporating steep fines and jail terms for violators, doesn’t take effect until next year, but two leading operators, Bet365 and IBC Bet, have informed their registered users in the city-state that their accounts will be closed within days, and two other major names, 888 and SBOBET, are no longer accepting new Singapore account holders.
“It is an administrative and compliance issue that they would prefer to deal with sooner rather than later,” attorney Matt Pollins with the Asia branch of the gaming-facing firm of Olswang told Channel News Asia.
The act, which was passed in parliament last Tuesday, criminalizes the entire spectrum of remote gambling and backs it up with fines of S$20,000 to S$500,000 and up to seven years in jail.
The implications are far-reaching and not entirely clear at this point. Internet service providers, for example, may be required to block access to various sites, and offshore services that do not “geo-block” Singapore might need to take extra steps to comply with the new law to avoid inadvertently committing a crime, while companies that develop and license gaming software and provide maintenance and support services to operators, if they have a physical presence in Singapore, may also find themselves under the gun.
Other leading names are monitoring developments. UK-based bookmaking giant William Hill told Channel News Asia it will cease all services to Singapore residents once the law takes effect. PokerStars, the world’s largest online poker room, said it is following the situation as well and “will inform players of changes that will affect them directly, and the players’ funds will be made accessible for withdrawal”.
The act exempts under certain conditions non-profits that contribute to public, social or charitable causes and have a track record of compliance with Singapore law and regulation. They will not be allowed to offer casino-style games or poker, however.
Singapore Pools, a state-owned lottery and gambling operator, also will be exempted. Singapore Pools is owned by Singapore Totalisator Board, a statutory agency under the Ministry of Finance. It currently markets three lottery games and is the sole legal bookmaker for football and motor sports betting.
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