online gambling singapore: The majority of Singaporeans oppose online gambling. More specifically, 68% of the Baby Boomer and Gen X generation reject the idea. Meanwhile, 44% of the Millennials and 48% of the Gen Z generation disagree. Overall, Singapore is the fourth country with the most negative sentiments toward online gambling.
Many Singaporeans are concerned that the increased use of online gambling may lead to an increase in gambling addiction. While a majority of Singaporeans do not support the idea of online gambling, others feel that it will help solve the existing problem of gambling addiction. However, many believe that the increase in online gambling in Singapore could harm the country's gambling industry.
Although the government does not want to completely ban online gambling, they have taken steps to regulate it. These changes will allow online operators to apply for a license. However, online operators will only be allowed to operate if they are operating for a non-profit organisation or a sporting event. In-App purchases in social games are also a concern, but the government has said in-App purchases will not be banned. It is expected that Malaysia will soon follow suit, adopting stricter controls on the online gambling industry.
Singapore's new Gambling Control Bill aims to regulate the entire gambling industry in Singapore. It will amend all gambling laws by 2021 and address the changing nature of gambling products and business models. The bill will also expand the definition of gambling to include more than just sports and horseracing. This would include any competition, event, or process that involves betting. It is important to note that this expansion of the definition of gambling will exclude financial products already regulated by the Monetary Authority of Singapore.
