Singapore Punters Spent S$9.2 Billion On Lotteries & Sports Betting In Financial Year Ending Mar 2022
During the peak of the Covid-19 pandemic in 2020, Singapore Pools outlets were closed as a precautionary measure to the dismay of some punters.
But since the easing of Covid-19 measures, it seems punters have had no issues resuming their betting routine.
According to the Tote Board, S$9.2 billion was spent on lotteries and sports betting in the financial year ending Mar 2022.
This is the largest sum placed on such bets in the last 10 years and amounts to a 40% increase from the previous financial year’s figure.
S$9.2 billion spent on lotteries & sports betting, the largest figure in 10 years
According to The Straits Times (ST), S$9.2 billion was spent on lottery and sports bets in Tote Board’s last financial year, which ended in Mar 2022.
This is a 40% increase from the S$6.6 billion recorded in the previous financial year that ended in Mar 2021.
Interestingly, this is the largest sum placed on such bets over the past decade.
Quoting a Tote Board spokesperson, ST reports that the amount placed on lotteries and sporting bets increased since the easing of Covid-19 measures.
However, it wasn’t that long ago when Singapore Pools outlets, Singapore Turf Club, and the two casinos halted operations due to the Covid-19 pandemic in 2020.
More punters expected to seek help after Qatar World Cup
Speaking to ST, counsellors provided some information and context that might explain the increased amounts placed on such bets.
One expert pointed out that as Covid-19 measures eased worldwide, there were more football matches that punters could place bets on.
Others familiar with the subject also pointed out how convenient it is to place bets online, and that some of their clients have placed more bets as a result of this added convenience.
Perhaps, most worryingly, counsellors are reportedly expecting to see a surge in punters seeking help for their debts and gambling issues after the end of the World Cup on 18 Dec.
If you or anyone you know struggles with gambling addiction, do not hesitate to reach out to the National Council on Problem Gambling via their hotline at 1800-6-668-668.
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