More on Singapore PoolsSINGAPORE (Nov 2): Singapore Pools has become the first operator to offer legalised online betting services in the city-state.
Singapore Pools was reported to have paid British online gambling software provider OpenBet a sum of S$10 million in 2015 to replace its website with one which can offer sports betting.
OpenBet powers the online gambling platforms of major bookmakers such as William Hill, Paddy Power and Betfair.
Of course, that investment is paltry compared to what Singapore Pools can expect to rake in.
Singapore’s online gambling industry is estimated to have raked in some S$500 million in 2014, before gambling portals based locally and overseas were shut down.
The global online gambling market is currently worth around US$37 billion a year, according to the American Gaming Association.
Online casino games such as poker and blackjack are disallowed under the current regulations.
However, it is understood that OpenBet’s software allows for these online casino games to be easily added on, should the regulations be relaxed in future.
And, as things stand, no one is betting against the possibility of that happening.
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