Singapore's Gambling Duties Regulations 2022 were amended with effect from 1 October 2023 by S 695/2023, which inserted a definition of "cash out bet" into the regulations1. The amendment is marked in the text of the regulations with the annotation "[S 695/2023 wef 01/10/2023]"1.
The regulations were made by the Minister for Finance under section 45(1) of the Gambling Duties Act 2022 and came into operation on 29 July 20221. The definition now reads:
"cash out bet" means a fixed odds bet made in connection with a sporting event that is settled by or on behalf of an authorized betting operator before the conclusion of the sporting event and the result of the sporting event is known
The regulations define a "fixed odds bet" as a bet made by a person who, when making the bet, knows or can know the amount the person will win, subject to listed exceptions1. A "sporting event" is defined as a sport or competition, or an exhibition, entertainment or activity, involving primarily the exercise of physical prowess or dexterity, physical strength, physical stamina or mental stamina, and excludes any game of chance and any fitness or recreational activity not organized in the course of any business1.
The regulations also define other bet types used in the duty rules. A "Singapore bet" is a bet placed by an individual located in Singapore at the time of placing the bet, or by a person whose principal place of business is located in Singapore at the time of placing the bet1. A "general bet" is a bet other than a totalisator bet, whether made using cash or credit or a free bet1. A "totalisator bet" is a bet made using any instrument for wagering or betting known as a totalisator, or any other instrument, device, machine or method of a like nature conducted on the same principles, and includes a numbers forecast totalisator paying a fixed minimum dividend1.
The regulations set out gambling duty provisions across betting operations, lotteries and sweepstakes, and gaming machines, plus a tax administration part covering accounting periods, lodgment of returns, record keeping, calculation of amounts of bets and free components, and treatment of unclaimed prizes1. The regulations were made on 27 July 2022 and signed by LAI WEI LIN, Second Permanent Secretary, Ministry of Finance, Singapore1. The text states they are to be presented to Parliament under section 45(3) of the Gambling Duties Act 20221.
What it means for players
The change is to the tax regulations that govern how gambling duty is calculated for authorized operators, not to the rules on which bets a person may place. The definition of a cash out bet now covers a fixed odds bet on a sporting event that is settled by or on behalf of an authorized betting operator before the event concludes and before the result is known1. For anyone betting in Singapore, including locals, expats and visitors, the practical effect is that an early settlement of that kind falls within a defined category in the duty rules. The regulations do not state any change to player-facing terms, payouts or the legality of any bet, and no such change has been reported. For the wider legal position, see Gambling Laws in Asia: What Is Legal in 12 Jurisdictions and Can I Gamble in Singapore?.
What happens next
No further steps are set out in the regulations beyond the commencement of the amendment on 1 October 20231. The text notes the regulations are to be presented to Parliament under section 45(3) of the Gambling Duties Act 20221.
Sources2 sources
- Gambling Duties Regulations 2022 - Singapore Statutes Online, sso.agc.gov.sg
- Gambling Duties Regulations 2022 - Singapore Statutes Online, sso.agc.gov.sg
