You can check how many Singapore dollars you have spent at a Casino while gambling
To play responsible at your nearest Casino, Singapore Casino Regulatory Authority (CRA) has now set a regulation where you will receive alerts on how much time and money at a casino on games and gambling. This initiative is being implemented now to encourage responsible gambling activities in Singapore casinos.
This means all the players and punters in Singapore could soon receive personalized alerts on the amount of time and SGD(money) they have spent at a casino to play games.
According to Minister and Second Minister for Home Affairs Josephine Teo, this would be part of efforts to encourage responsible gambling which will mitigate the risk of problem gambling
She added that Singapore’s Casino Regulatory Authority (CRA) was working together with the casinos on measures which could also include the option of having casino patrons self-regulate their gambling habits by voluntarily setting caps on their expenditure and time spent at the tables.
Copies the act from other countries responsible gaming acts
Singapore is learning from responsible gaming measures that other jurisdictions have introduced, such as the Massachusetts Gaming Commission. The Boston-based gaming regulator has put in place GameSense Information Centres at various casinos, where advisers provide patrons with information to help them make better-informed decisions about their gambling habits. This could be about adopting healthy gambling habits, setting spending limits and understanding how the casino games work so that they know how the odds are stacked against them.
Similarly in Singapore, there are also several efforts on responsible gambling like, the Responsible Gambling Forum, which comprises industry and community leaders, organizes events such as the annual Responsible Gambling Awareness Week to raise awareness. The online gambling with Singapore Pools requires patrons to set expenditure and loss limits so that punters can manage the financial impact of their gambling.
With changes to the gambling landscape, there is a need for gambling regulators to continue learning from one another. Also, regulators and law enforcement agencies need to keep up to date with these developments and make sure the policies and rules remain effective.
Increase in online gambling
Online casinos is another challenge that regulators have to deal with. This is the change brought about by technology that has led to an increase in online gambling. Using smartphones now punters can access games and lotteries anywhere, anytime.
There are about 60 percent of Singapore Pool’s sports betting turnover which is now done through remote channels, with a stark increase from the 30 percent just three years ago. The market size of Asia-Pacific online gambling will grow almost threefold, more than the rest of the world.
Another challenge that regulators are facing is the development of new gaming products to suit the preferences of the younger generation who are less interested in traditional gambling products like jackpot machines and horse racing. Regulators around the world will need to figure out how to regulate these games as some products have morphed to resemble computer games that appear to be skills-based or allow patrons to make decisions during the game.
Meanwhile, computer and mobile gaming products have also incorporated elements of gambling, for example, virtual loot boxes, which contain randomized in-game items that gamers can purchase. The reward in the loot box can include top prizes that can enhance the game experience. Such new types of games across various modes of gambling or gaming will require Singapore to put on their thinking caps and take a look at new laws to regulate.
Money Laundering another issue to fix
Regulators can also learn from the ways that other jurisdictions address law and order concerns, especially those regarding money laundering and terrorism financing.
More can and needs to be done, and as it is, some regulators have made good use of data analytics to tackle these areas. Like the French Online Gaming Regulatory Authority which uses data to detect money laundering, match-fixing, and to study the behaviour of players.
In Singapore, CRA is also exploring how data analytics can be used to gain insights on the risk profiles of patrons and identify characteristics of patrons who pose regulatory risks. Such insights can be used to support policy development and enhance CRA’s risk management.
Note that in April 2019 the entry fees to Singapore’s casinos were raised when the Government announced the $9 billion expansion plans of the two integrated resorts, which will include a fourth tower to the iconic Marina Bay Sands (MBS) development, three new hotels, a 15,000-seat entertainment arena and extensions to Universal Studios Singapore (USS).
Meanwhile, MBS and Resorts World Sentosa (RWS) will be allowed to expand their casino operations, with their exclusive rights to run a casino here extended until the end of 2030. But their gambling revenue will be further taxed by the Government. In order to rein in problem gambling, casino levies on Singapore residents will be increased. The daily levy went up from $100 to $150 while the annual levy is increased from $2,000 to $3,000.