The online betting got legalized in the year 1994, the act was called the Free Trade & Processing Act. This law allowed online websites to apply for open casinos and online betting. The first gambling software was developed by Micro gaming and the payment tractions were developed by Cryptologic that was an online security company.
Then in 1996 came the Kahnawake gaming commission that regulated the online gaming. In order to keep the online betting is Singapore transparent and safe. The poker-rooms and online betting sites had to be licensed in order to keep running.
This was the time the online betting in Singapore started garnering popularity, there were just 15 websites initially and that started to grow to 200 in just one year, 1997, and in that year can you guess what the revenue was? It was whooping over $830 million in 1998 alone. That year poker room got introduced.
Soon, sometimes later stricter rules started to come to the Internet Gambling Prohibition act came up that stood against any website that offered online betting in Singapore but that couldn’t pass. The game developers brought interactive environment where players could contact each other, got live chat support.
Next, was the Interactive Gambling Moratorium Act, in Australia that made all the online casinos to get licensed to be operated, but the irony being the Australians couldn’t participate. That was the year 2000.
Then in 2001, it was estimated that about 8 million people participated in the online betting Singapore all over the world and the growth continued the lawsuits had started facing difficulties legalizing them.
The online betting revenue grew $21 billion all over the world and the legalization of online betting in Singapore is quite new. In the year 2016, the Singapore government provided relaxation on online betting in Singapore. According to the recent strata, the gambling market has grown up to become $56.05 billion in the last year.
What are the main games in online betting in Singapore?
There are many online poker games, where the players play against each other from different rooms.
There are many online casinos, such as baccarat and blackjack, these games played against each other’s house. Other Sports online betting like online bingo and gambling is also common in Singapore.
There are many online lotteries and betting in Singapore that is legal. They are heavily in competition and many offline governments run offline betting have stopped functioning and they have started their online websites. These online betting in Singapore get more traffic and are more well-protected.
How can you be assured about the payment?
The money for online gambling can be obtained through cryptocurrencies in recent times, wire-transfer, electronic check, debit cards or credit card. Also, there are many electronic money services through which online betting in Singapore can be funded. Also, the money that you get after winning all the bonuses, to sum up, we can say that online betting Singapore is safe and exciting if you follow some basic rules.