In Singapore, most gambling activities are allowed when offered by gambling businesses that have obtained proper licenses from the GRA Gambling Regulatory Authority of Singapore. Read on to learn more about the Singapore Regulatory Body and licensed gambling operators.
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The GRA Gambling Regulatory Authority is the main regulatory body for the growing gambling industry in Singapore. The gambling authority was formed back in 2022 when the agency officially took over all the main responsibilities regarding the Singaporean gambling industry. Before, the Singaporean gambling industry was overseen by the Casino Regulatory Authority of Singapore, also known as the CRA. The CRA was founded back in April of 2008 and it operated until July of 2022 when the GRA Gambling Regulatory Authority of Singapore assumed control.
The main piece of gambling legislation in Singapore is the Gambling Control Act 2022. The main goal of the refined gambling legislation is to prevent all forms of illicit and unlawful gambling activities, and the main regulatory body tasked with making sure this goal is met is the GRA Gambling Regulatory Authority of Singapore.
At the time of writing this, the Singapore Regulatory Body issues different types of gambling licenses and these cover a variety of gambling activities, including casinos, lotteries, sports betting, social gambling, tombola gambling, and more. The licensing process is discussed in detail in the licenses and approvals section on the official site. According to the main licensing rules, only approved gambling suppliers and manufacturers can apply for licensing.
Companies that wish to run a gambling business in Singapore also need to obtain permits for their gaming equipment and gaming machines and these permits are also issued by the GRA Gambling Regulatory Authority of Singapore. The official application form is also featured on the site. There are different application forms for supplier and gaming machine licenses.
The GRA Gambling Authority of Singapore's official website lists all licensed gambling operators and gambling suppliers. Some of the licensed gambling suppliers are IGT, Ainsworth, Aristocrat, Weike Gaming Technology, Konami Gaming, and Novomatic. According to the current taxation system in Singapore, licensed gambling operators invest 5% of their gross gaming revenues in taxes and this is the tax rate for premium casino gaming. The tax rate on mass gaming is set at 15%.
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