Currently, the Philippines is the only country off the South China Sea that permits the practice of casino and online gambling. But that may be about to change.
A Potential Cash
Cow
With
gambling officially banned by the Asian giants of China and Japan, gamers who
want a flutter on the horses or blackjack tables have been forced to look
further afield. Eyeing the enormous potential tax income, the government of
Singapore is considering legalizing casino and online gambling operations.
Cautious History
In
a country where you can be fined for chewing gum in the street, Singapore law
can be extremely strict. Gamblers caught in the act can face jail sentences of
up to six months, and fines of around 5,000 US dollars. Even more severe
penalties await illegal gamblers in nearby countries such as Malaysia, where
gambling is even more heavily penalized.
The Will to Wager
In spite of the risks, Singaporeans love to bet, and gambling abounds through
illicit chains of bookmaker stalls, and online via a network of hundreds of
Internet cafes. A
recent survey
has found that online gambling in Singapore has increased tenfold in
the last two years.
A Losing Battle
The
Singapore police do their utmost to shut down illegal gambling dens and
Internet cafes where gambling persists, but new operations spring up overnight.
As in the United States, denying payment through local credit cards is also a
losing battle, as third-party money handlers appear instantly to fill the gap.
Bite the Bullet
The Singapore government is set to bite the bullet and legalize casino and
online gambling operations, paving the way to increased levels of tourism as
well as a welcome flood of tax revenues. Working committees are in progress to
determine the pros and cons, but Singapore is likely to follow the global
deregulation trend and permit its gamblers to spin the wheel.
Tags
Singapore
Blackjack
Slots
Roulette
Baccarat
Craps
Poker
