Lottery Singapore is a national lottery operated by the state-owned lottery subsidiary company known as Singapore Pools. The company was established in 1968 to curb illegal gambling and betting activities, a goal that it has accomplished pretty well with the establishment of several legal games and lotteries including Singapore Toto.
The prizes for the different lottery games vary based on the rules set out by each company. The top prize for the 4D Lottery, for example, is capped at a minimum of a million dollars, with the winning amount increasing if more numbers are matched. However, the government also puts a strong emphasis on playing responsibly and encourages players to bet within their means.
Another popular lottery in Singapore is the TOTO, a game where you select six numbers and an additional number from 1 to 49. The lowest price for this lottery is $1, GST included. The draws for the TOTO lottery take place every Monday and Thursday at 6:30 PM.
While there are plenty of benefits to playing the lottery in Singapore, it’s important to know that your winnings may be subject to taxation. If you win more than SGD1 million, you’ll have to pay a minimum of 24 per cent federal withholding tax before you can get your hands on the money. However, the withholding tax isn’t applied to all lottery winnings, as there are some exemptions that you should be aware of. These include: