Luxbet Eyeing Singapore Betting Market

Australia’s Tabcorp Holdings brand Luxbet could become the first foreign bookmaker to open its betting services in Singapore. Singapore officially does not allow any sports betting or tote betting on non licensed bookmakers, spots betting is restricted to government regulated  horse racing tracks and select betting shops that have an agreement with local jurisdictions. Singapore sports and casino punters must pay a levy (entry fee) to enter vicinities that allow gambling such as casinos or race tracks.

Nevertheless these tax levy’s on gambling have not stopped sports betting and gambling from growing in the region. Singapore horse racing track ‘The Singapore Turf Club’ have announced year on year growth in horse racing wagers and attendance to its horse racing track. The Singapore Turf Club currently have a operational services agreement with Tabcorp Holdings to provide onsite betting and odds.
Tabcorp brand Luxbet are currently studying the possibility of partnering under the Singapore Turf Club and offering betting services and totes to Singapore sports and horse racing punters. Luxbet will also look to feature Singapore Turf Club racing meetings to their Australian betting customers as part of the possible agreement between the two parties.

The Singapore Turf Club is the country’s oldest horse racing track, founded in 1842. The Track is part of the Malayan Racing Association which also operates three Turf Racing Clubs in Malaysia