Singaporeans have outperformed themselves on the amount spent on various gambling platforms and games. Singapore broke records by spending S$9.2 billion, or $6.8 billion. During the fiscal year ended March 31, 2022, the industry’s popularity increased by 43% year over year. In addition, the S$125 million, or $92 million in U.S. currency, entry-level casino collection was the highest in the past four years. Singapore rising from the ashes: Singapore’s Tote Board disclosed information related to the increase. During fiscal year 2021, around $6.6 billion (US$4.9 billion) was spent on lottery tickets and sports betting. Of course, the gambling industry has been affected by the global pandemic of COVID-19 and several casinos have closed, but the final tally still breaks records. This is a 14% increase over fiscal year 2019, when growth was S$8.1 billion (US$6 billion) Totboard collected S$125 million ($84 million) in fiscal 2022, more than its 2021 collection, which was S$114 million. It also matched its previous collection, as the 2019 collection was about S$114 million ($91.5 million). The only year in which more money was collected recently was 2018, when Singapore dollars (US$97 million) were collected. Also, we need to mention 2012 when Singapore first raised S$193 million ($142 million). Since then, Singaporean money has started to fall, but it seems that they finally got away with the crisis. Singapore’s main casinos, Marina Bay Sands and Resorts World Sentosa, have closed several times this year due to COVID-19, but players have apparently not stopped to enjoy gambling. Casinos were also forced to enforce capacity restrictions in 2021, but things are starting to change. Singapore’s former casino regulator has decided to raise entry levels to 50% following expansion deals with Las Vegas Sands and Genting Singapore. This has prompted many local citizens and residents to avoid visiting casinos. Expansion of horse racing: The growth has also been recorded in horse racing. Racers have spent an amount of S$818 million ($630 million) on it. Horse racing has not been that popular in Singapore over the past few years, but the gambling scene is changing. Evidence of that is the fact that the total bets in 2012 were S$1.7 billion ($1.25 billion) and S$1.1 billion in 2019. The biggest drop was recorded in 2021 when the total bet amount was S$496 million ($366 million).
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