Online Betting in Singapore: Growth, Regulation, and Payment Innovation

Singapore’s gambling environment is unique. While the city‑state permits casinos and legal pool betting, it strictly regulates gambling to safeguard consumers. The last few years have seen a surge in online betting, driven by technological innovation and a booming payments ecosystem. This article explores the current state of online betting in Singapore, examining the market’s growth, the regulatory landscape, payment methods, and emerging trends. We draw on data such as the record S$12.2 billion that citizens spent on lottery, sports betting, and horse racing in the 2023/2024 financial year.SG and the growing adoption of cross‑border instant payment systems across Southeast Asia provide context.

Record turnover: Singapore pools and legal betting

Legal betting in Singapore is centred on two pillars: the state‑operated Singapore Pools and the two integrated casino resorts. Singapore Pools runs lottery draws (4‑D and TOTO), sports betting, and horse‑racing wagers. In November 2024, Mothership reported that punters in Singapore spent a record S$12.2 billion on lottery games, sports betting, and horse racing in the financial year ending March 2024, up from S$11.4 billion the previoumothershipip.sg. This 7 % increase underscores Singaporeans’ appetite for wagering and the success of government‑regulated channels.

Revenue from Singapore Pools supports social and community initiatives via the Tote Board. The record turnover also reflects a post‑pandemic rebound in major sporting events and the return of physical horse‑racing crowds. Still, most betting occurs via authorised retail outlets and the official Singapore Pools website or mobile app, rather than offshore bookmakers.

Regulatory landscape: strict control with limited exceptions

Singapore’s gambling laws were overhauled in March 2022 with the enactment of the Gambling Control Act and the creation of the Gambling Regulatory Authority (GRA). These reforms consolidated previously fragmented legislation and gave the GRA authority to license and regulate all forms of gambling. Only operators with GRA licences may offer betting services, and unlicensed gambling, including offshore sports betting websites, is illegal.

The regulations distinguish between three regimes: licensed gambling, class‑licensed social gambling, and a social gambling exception for private games that are not linked to any business. Licensed casino operators, Marina Bay Sands and Resorts World Sentosa, are authorised to operate until 2030. The minimum age for casino entry is 21, while Singapore Pools tickets can be purchased from the age of 18. Advertisements for gambling are heavily restricted, and the government blocks unlicensed websites.

These tight controls mean that locals wanting to bet on football or other sports legally must use Singapore Pools or travel to neighbouring countries with liberalised markets. Nonetheless, offshore betting sites continue to attract Singaporean punters because they offer broader markets, higher odds, and generous promotions. While enforcement actions target illegal operators rather than individual bettors, using unlicensed platforms carries risks such as account closure, loss of funds, and lack of recourse.

Market drivers: passion for sports, e-sports, and lotteries

Singaporeans have long enjoyed betting on football pools and horse races, but market dynamics are shifting:

• Football and basketball – European leagues like the English Premier League and La Liga attract large audiences. Basketball’s global popularity, estimated at 2.2 billion fans, is reflected in rising NBA viewership in Singapore. As sports broadcasts become more accessible via streaming, punters look for varied wagering options such as Asian handicaps, player props, and over/under markets.
• E‑sports – Younger bettors gravitate toward e‑sports. Research projects that the global e‑sports betting market will grow from US$9.9 billion in 2022 to about US$33 billion by 2032, a compound annual growth rate of 14.3 %. In Singapore, tournaments for games like Dota 2, League of Legends, and Mobile Legends draw sizable online audiences, and licensed bookmakers offer esports markets.
• Lotteries – 4‑D and TOTO remain staples. Singapore Pools’ digital channels allow residents to place lottery bets online and check results via the app. The record S$12.2 billion turnover shows that lotteries still command strong participationmothership.sg.

Payment methods: digital wallets and instant transfers

The rise of online betting is intertwined with Singapore’s advanced payments ecosystem. The Monetary Authority of Singapore (MAS) and industry stakeholders have pushed for an e‑payments society, promoting systems that make transactions fast, secure, and convenient.

A shift towards cashless transactions

Across Southeast Asia, cashless adoption accelerated during the COVID‑19 pandemic. An International Monetary Fund (IMF) feature on Southeast Asia’s payment push notes that seamless QR code payments are now common across the region. Governments urged merchants to adopt mobile wallet apps, enabling customers to scan a QR code, enter an amount, and receive instant confirmation, with no need for cash or cards. These payments are often cheaper for small businesses because they avoid card‑reader rental fees.

In Singapore, consumers use e‑wallets such as PayNow, GrabPay, Singtel Dash, and FavePay. At hawker centres and retail outlets, scanning a QR code is routine. Credit card penetration remains high, but digital wallets are rapidly gaining share for small purchases and online transactions. Mobile payment adoption is further boosted by smartphone penetration; across the Asia‑Pacific, 1.8 billion people (63 % of the population) subscribed to mobile services by the end of 2023, with 78 % using smartphones.

Connecting national payment systems

Domestic instant payment systems, such as Singapore’s PayNow and Malaysia’s DuitNow, were transformative, but their impact multiplies when linked. According to the IMF article, regulators and businesses recognised the potential of connecting these systems. Thailand and Singapore were the first to establish a bilateral link in 2021, allowing customers to transfer money between the two countries using mobilenumbersg. Other links followed, such as between Singapore and India, and Thailand and Malaysia.

An initiative spearheaded by Nexus Global Payments (NGP), a non‑profit established by several central banks in 2025, aims to create a multilateral infrastructure so that countries can process cross‑border payments through a shared node. This development will make it easier for Singaporeans to deposit and withdraw funds from overseas betting accounts via their domestic banking apps. It also paves the way for regulated operators to offer seamless international payouts.

Licensed vs. offshore online betting options

With legal restrictions, local players seeking broader betting markets often turn to offshore sites. When choosing where to bet, consider these factors:

1. Licensing and reputation – Only bet on platforms licensed by reputable jurisdictions, such as Malta or the Isle of Man. Check for certifications from independent auditors and responsible gambling organisations.
2. Sports coverage – Look for sportsbooks that offer deep markets for football, basketball, tennis, motorsports, and e‑sports. Live betting (in‑play) markets allow bets during matches; these require strong data feeds and quick settlements.
3. Payment methods – Ensure the bookmaker supports Singapore‑friendly options such as e‑wallets, bank transfer, and credit cards. Some sites offer cryptocurrency deposits; while these are fast and private, their volatility may not suit all bettors.
4. Bonuses and promotions – Offshore sites often provide welcome bonuses, free bets, and loyalty rewards. Read the wagering requirements carefully; slot bonuses typically require a 15× playthrough, while other games may need higher turnover. Avoid offers that seem too good to be true.
5. Responsible gambling tools – Choose operators that provide deposit limits, a cool‑off period, and self‑exclusion options. Betting should remain a form of entertainment, not a source of financial stress.

Popular bets and markets in Singapore

Singaporean bettors share similar preferences to their Malaysian counterparts, but with unique local nuances:

• Football pools – Asian handicap betting is popular, as it offers a balanced field between strong and weak teams. Local punters also enjoy accumulator bets on multiple matches and correct score bets.
• Basketball props – With the NBA season running from October to June, bettors enjoy player prop bets (e.g., points, rebounds, assists), combined lines (e.g., team win plus player to score over 20 points), and live margin bets. FIBA tournaments and the ASEAN Basketball League attract regional interest.
• Cricket and tennis – Cricket is less prominent than in India or Australia, but major tournaments like the Indian Premier League (IPL) have a following. Tennis betting peaks during Grand Slams, with options like game handicaps and tie‑break yes/no wagers.
• E‑sports – Markets include map winners, total kills, first blood, and series score. Live betting adds excitement when momentum shifts after a key play.

The future of online betting in Singapore

Several trends will shape the next decade of online wagering:

1. Further payments innovation – Real‑time payments are forecast to expand exponentially. Visa projects that real‑time payment transactions in the Asia Pacific will grow sevenfold by 2027 compared with 2022 levels. Payment schemes across ASEAN are moving towards a common QR code standard, allowing merchants to accept multiple wallets. For betting, this means faster deposits and withdrawals, reduced foreign‑exchange costs, and integrated identity verification.
2. Micro‑betting and personalization – Data analytics and AI will allow sportsbooks to offer micro bets on specific moments (e.g., next point scorer in a basketball game) and personalise odds and promotions based on a user’s betting history.
3. E‑sports dominance – As gaming culture grows, e‑sports betting will become mainstream. Platforms may stream tournaments, offer interactive viewing, and provide customisable bets.
4. Regulatory evolution – Singapore may eventually consider regulated online sportsbooks, similar to its licensing of casinos. A domestic licensing framework could generate tax revenue, protect consumers, and reduce reliance on offshore sites. However, the government will weigh social concerns and the impact on problem gambling.
5. Cross‑border partnerships – With initiatives like NGP, cross‑border payment rails will make it easier for licensed operators in neighbouring countries (e.g., Malaysia or Thailand) to accept Singaporean customers. This could lead to regional betting platforms that comply with each jurisdiction’s regulations.

Responsible betting and final thoughts

Whether betting with Singapore Pools or on offshore platforms, responsible gambling is vital. Set a budget, track your wagers, and take breaks. Keep gambling separate from your essential finances. Most importantly, understand the legal implications of using unlicensed sites. The record S$12.2 billion turnover mothership.SG shows how pervasive gambling is in Singapore; with this popularity comes the need for consumer protection.

Singapore’s vibrant sports culture, advanced digital payments infrastructure, and regional links will continue to drive online betting. As cross‑border instant payment systems connect more countries, convenience will increase. However, regulation and responsible play must keep pace. Staying informed about legal changes, choosing reputable operators, and using available tools will ensure that online betting remains a safe and enjoyable pastime.