Singapore Develops New Online Betting Regulations

online-gamblingIt has been reported that the issue was created by needing a place for gambling operators to keep tabs on things, as said by Gambling law expert Bryan Tan of Pinset Masons MPillay, the Singapore joint law venture partner of Pinset Masons, the law firm responsible for Out-Law.com. 

Singapore’s Second Minister for Home Affairs, S Iswaran, announced on Friday that the Government in Singapore is reviewing a way to restrict access to, and patronage of, the gambling platforms online for a study that is expected to be complete prior to the end of 2013. 

Tan has stated that it is presently uncertain whether current gambling laws in Singapore can be applied to online betting but it is not currently clear how the Government in Singapore plans to take care of this issue. 

Tan has gone on to say that the Common Gaming Houses Act and The Betting Act come from the days prior to independence and there is uncertainty surrounding the extra-territorial effect.

He goes on to say that Singapore residents, as compared to most Asians, are avid gamblers and there is a fear that gambling that is unregulated may make social problems and illegal activities arise.  Iswaran stated in a speech that the Government of Singapore will be proposing new online gambling regulations in an effort to tackle specific social risks that will come from this form of betting.

He is reported to have said that they stay resolute in the commitment for protection of minors and vulnerable groups in their society from the risks of gambling whether it be virtual or terrestrial.  They realize there are challenges that are practical to this effort due to the technological change that will come from total eradication difficulties.

The government officials are working alongside industry experts to examine these issues and gain knowledge from other jurisdictions to form an effective plan.  This study should be completed by the end of the year.