Singaporeans are very fond of lottery games such as 4-D, Toto and Singapore Sweep. These are available at a number of Singapore Pools outlets, online and via their mobile app.
A recent survey found that 44% of Singaporeans and permanent residents were found to be betting on these games in 2019. In addition, a majority of these people bet in the hope of winning large amounts of money.
Gambling Duty and Regulations
If you place bets on a race, competition or sporting event in Singapore or abroad, you must pay gambling duties to the Inland Revenue Authority of Singapore (IRAS) on your winnings. You must also submit a statement of your betting activities to IRAS by the 15th day after the last day of the month during which these races/events/draw take place.
Failure to file a Statement is an offence and you may face enforcement actions by IRAS. IRAS may also offer you a composition amount not exceeding $2,500, depending on your past compliance records.
You may also be liable to pay taxes on your prize amount if you win outside of Singapore. This will depend on the country of your residence and laws regarding lottery prizes.
A spokesman for the Tote Board told The Straits Times that a 40 per cent increase in sums bet on lotteries and sports in the last financial year coincided with the easing of COVID-19 restrictions. The totals bet on these two types of wagers rose to $9.2 billion in the financial year ending in March 2022, up from $6.6 billion in the previous year.