Singapore is the most prosperous economic nation globally and the lottery industry in Singapore is expanding. The sales of lottery tickets in 2020 exceeded 8 million U.S. dollars, accounting for 1.81 percent of that year’s GDP. This was an impressive level. per capita, lottery sales exceeded 1 019 U.S. dollars, ranking as the top lottery in the world for several consecutive years. As a news outlet that pays particular attention to the lottery industry it is difficult not to think, how did they get such amazing outcomes?

Singapore Casino
Singapore Casino

In the 60s Singapore was just beginning its journey on its journey to becoming a nation and underworld and illicit gambling syndicates were prevalent. This was the reason that on the 23rd of May 1968, the Singapore government created Singapore Pools Limited and issued lottery tickets in the year 1968.

In the month of January, 1981, it was the time that the Singapore Gaming Commission was established. In 2004, the commission was changed. It was reorganized in 2004. Singapore Pools Co., Ltd. was formed as an affiliate part of the Gaming Commission, and the lottery public welfare fund was supported with the help of the Gaming Commission.

At present, Singapore Lottery is operated by Singapore Pools, a wholly-owned subsidiary of the Tote Board, and has more than 290 lottery shops on the island. Being the sole lottery company that is regulated under Singapore authorities, the organization operates with a market-oriented approach which includes the company’s Board of Directors, its own management and self-financing.

There are four types of lottery tickets available in Singapore including Toto (a type of lottery), Singapore Sweep (a seven-digit lottery game printed in advance) and tickets that are 4D (a four-digit game of numbers) as well as betting on sports ( racing and football).

In 2014, the Singapore Parliament approved Singapore’s “Remote gambling Act” that prohibits betting on gambling via the internet and by phone. However, operators that are non-profit and operators that contribute to the society, public and charitable causes of Singapore are exempt from the law. This is why Singapore Pools is the Singapore Pools company runs Toto tickets in 4D, as well as betting on sports through the Internet except for the case from the Singapore Sweep.

In the fiscal year 2016 Singapore lottery sales totaled US$7.018 billion (contract 47.7 billion yuan). While this is just one-third out of 394.6 billion sales in the same period.

Give back to the society

In accordance with the Singapore Lottery Commission Act, the entire revenue generated from lottery sales is allocated to social welfare aside from bonuses and expenses for sales. The percentage of lottery tickets with different colors can vary, but and the average is around 55 percent. The commission paid to the company is based on sales revenues. The company commission is 6 percent.

Over the past 50 years of development, Singapore’s lottery sector has gained lots of knowledge. Its highly market-oriented operating model, risk management for lottery awareness, and the idea that green lottos are embedded in the minds of Singaporeans. It’s a valuable lesson to learn from.