Singapore Pools is the sole legal lottery operator in Singapore. It was incorporated on 23 May 1968 to curb illegal gambling in Singapore and is a subsidiary of Tote Board, a statutory board under the Ministry of Finance. It also manages sports betting in association football and motor racing.
Lottery Participation Rate in Singapore
The SLP data set reveals that the lottery is one of the most popular forms of gambling in Singapore. About 52 percent of respondents bought a ticket at least once in the previous 12 months.
Despite its popularity, there is no evidence that lottery winnings improve the well-being of people. This is because, when happiness and life satisfaction equations are estimated without any adjustment for the amount spent on tickets, a lottery-expenditure coefficient is statistically insignificant.
This study uses new data from the intensely lottery-playing nation of Singapore to test the long-standing puzzle that income and welfare are positively related only if the income increases unearned income. We find that unearned lottery income improves the health of household members by a small but statistically significant degree.
Gambling Duty – Singaporeians and foreigners must pay gambling duty to IRAS when they make bets on races/events/draw that are regulated by the law. To avoid prosecution, they must file the statement and pay the composition amount by the due date of 15th day after the end of the month during which these races/events/draw take place.
There are numerous outlets of Singapore Pools in Singapore that sell tickets for Toto and other games. These outlets are a convenient and accessible place for Westies to try their luck at winning a prize.