Foreign Bookmakers vs. Singapore Pools
Singapore Pools is a lottery owned by the state that one might have come across while betting online in Singapore. It has Internet as well as brick-and-mortar shops for sports wagering. On the other hand, there are numerous foreign bookies who accept Singaporeans and many reasons why it can be beneficial to choose these companies instead of them.
First, younger gamblers have limited access to Singapore Pools. While you can start placing bets in person with them at the age of 18, you are not allowed to have an account for online or phone betting until the age of 21. Conversely, majority of foreign bookmakers allow gambling from as low as 18 years old.
Welcome bonuses and other promotions are also extended by foreign operators which the Pools may not offer. These factors make it more entertaining and potentially better paying to play with foreign bookies.
Deposits and Payouts at Foreign Bookmakers
All the foreign bookmaking companies that we consider to be the best have many depositing methods. For Singaporeans, some of these methods are more popular.
The use of online banking holds the first position. The majority of sites accept bank transfers from Singapore’s most renowned banks, and this makes it very easy for you to transfer money from your checking account into the betting site.
Another best alternative is the use of electronic wallet. They make it easy for you to open an online account where you can keep your money. Among them, Skrill is the most used while others may also be found in a select few areas. Make a deposit into an e-wallet by using several methods and then transfer such cash into foreign bookmakers or withdraw the earnings directly into your bank account.
Other methods are also available although those two are the most popular.
Other alternatives that are also common among non-bank account holders or players without credit cards. For example, it is possible to make a deposit via a digital currency such as Bitcoin. Alternatively, people can use prepaid cards, vouchers or even tokens which can be bought online or offline at various shops.
Singapore Betting Odds
Different odds formats are used worldwide. These are European Odds (decimal form) British or UK (fractions), and American odds (money lines). And also Asian odds which include Hong Kong Odds, Malay Odds and Indonesian Odds.
The most stable odds format employed in Singapore is European Odds. It is the format that Singapore Pools normally uses as a default, and you will find it on all foreign online betting platforms.
Decimal odds are the means through which a punter may know how much cash they will get once their stakes have been won. If you, for example, make a bet of S$100 at decimal odds of 1:91, you will receive S$191 when you win. In this case, S$100 is your stake returned and S$91 would be your profit.
Should you choose one of our recommended betting sites, you will be able to select the format in which you would like to view odds. Opt for European (decimal) or any other format that will enable you to understand odds and payouts on each bet you place.
Singapore Betting Laws
In Singapore, it is allowed to bet on sports. Nonetheless, the only firm granted permission to offer this kind of betting in the state is Singapore Pools, a subsidiary of Tote Board. Founded in 1968 with an aim of replacing illegal gambling activities, it was the first national lottery operator in Singapore. Besides, Singapore Turf Club is available for online horse racing betting.
In Singapore in 2014, an Act was passed that made gambling illegal in all forms such as online gambling. In the year 2016, this ban was lifted due to the exemption awarded to Singapore Pools allowing them to offer some online sports betting and lottery services.
On the other hand, there are numerous foreign online betting sites that also accept Singaporeans as players since Singapore Pools is the only local option available. Dafabet for instance is regulated in different jurisdictions including Europe, Asia and Caribbean. Even though these sites infringe against the Remote Gambling Act, they remain operational to date and many Singaporean players continue enjoying them.