Two major operators have bolted the Singapore online market, the first of what will be many in the wake of a new law banning remote gambling.
Bet365 and IBC Bet closed registered users’ accounts last week even though the Remote Gambling Act, which provides for steep fines and jail terms for violators, doesn’t take effect until next year.
Two others, 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 of the firm of Olswang told Channel News Asia.
Other leading operators say they are monitoring developments.
The act 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.
It is likely that Internet service providers will be required to block access to 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.
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.
