Debated in Parliament on 7 Nov 2016.
Mr Png Eng Huat asked the Minister for Finance (a) what is the estimated betting and sweepstakes duty that will be collected from the exempted remote gambling operators; and (b) what is the financial effect of exempting Singapore Pools and the Singapore Turf Club on the total collection of betting and sweepstakes duty.
The certificate of exemption made under section 26 of the Remote Gambling Act does not confer exemption from the payment of betting and sweepstakes duty. The collections received through terrestrial or remote gambling channels are both subject to the following betting duties1:
(a) Totalisator and sports betting: 25% of gross profits, that is, gross bets less winnings paid out; and
(b) Lotteries, that is, 4D, Singapore Sweep, TOTO: 30% of gross bets.
Singapore Pools launched its remote gambling channel on 25 October 2016, and Singapore Turf Club is scheduled to do so on 15 November 2016. As such, it is premature to ascertain any financial impact of remote gambling on the operators or betting duties.
PAPERCUTS