Betting and Sweepstakes Duty Collections From Exempted Remote Gambling Operators
07 Nov 2016Parliamentary Question by Mr Png Eng Huat:
To ask 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.
Parliamentary Reply by Minister for Finance, Mr Heng Swee Keat:
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 duties
[1]:
(a) Totalisator and Sports Betting: 25% of Gross Profits (i.e. gross bets less winnings paid out); and
(b) Lotteries (i.e. 4D, Singapore Sweep, TOTO): 30% of Gross Bets.
2 Singapore Pools launched its remote gambling channel on 25 Oct 2016, and Singapore Turf Club is scheduled to do so on 15 Nov 2016. As such, it is premature to ascertain any financial impact of remote gambling on the operators or betting duties.
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[1] Information is publicly available on IRAS website.