SINGAPORE- It would be better for governments to license and regulate the online gambling industry than to turn a blind eye to the growing number of online punters worldwide, a PricewaterhouseCoopers (PwC) report released on Wednesday argued. This, especially as the global financial crisis strains public sector finances, it said. “With governments now facing severe fiscal constraints and eager to replenish their coffers, their attention has been caught by the potential of legalised and licensed online gaming services as a valuable source of tax revenues,” it said.
“There is also a strong argument that, since consumers will engage in illegal online gaming anyway, it is better to license and tax it than to allow the revenues to go to unlicensed operators.” There are no studies on how big the online gaming community here is, but Singapore is one of the fastest growing casino gaming markets in the Asia-Pacific region, which is tipped to overtake the United States in 2013 to become the world’s largest region for casino gaming. Gaming revenue in Asia-Pacific, the PwC report projected, will grow from US$34.3 billion (S$43.96 billion) last year to US$79.3 billion in 2015. It also estimated that revenues from the two integrated resorts here will jump from US$4.4 billion this year to US$7.2 billion in 2015. Online gambling is outlawed in Singapore but Singapore Pools allows punters to place lottery or sports bets through the phone using pre-paid accounts.
Noting that there is “tremendous growth in online gaming, especially in poker”, gaming analyst Jonathan Galaviz felt that governments in the region should certainly seize the growth opportunities. “It’s probably an appropriate time for governments to, at the minimum, seriously research the issue and get up to speed on the topic for thoughtful policy discussions,” said the chief economist of Galaviz & Co, a consulting firm for casinos. But other gaming analysts Today spoke to were against such a policy decision, saying legalising online gambling will likely cause a significant social impact. Said Mr Felix Ling, a senior partner at casino consultant Platform Asia Management Services: “Once you allow online gambling, you are indirectly encouraging more people to flock there. “Yes, there are some people who are already gambling on the Internet anyway, but how many are there? If you legitimise online gambling, the number of problem gamblers will shoot up and you can’t even track the problem or control it.” Agreeing, Dr Derek da Cunha, author of Singapore Places its Bets, a book on the social and economic impact of the entry of casinos into Singapore, said: “If the Government were to legalise online gaming, it would simply give respectability to this activity.
A consequence of that would be to draw new or novice players who would not otherwise engage in online gaming.” He added that the social consequences would be “incalculable, especially when people who are supposed to be at work, use their computers or handheld mobile devices to start punting”. Dr da Cunha also noted that Singapore is not in a situation where it has to find new sources of tax revenues to plug significant budget deficits. He said: “Government finances are healthy, and the Government already has a raft of revenue streams that draw in vast amounts of monies for the Government’s coffers.” – Today
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Regulate REAL LIFE gambling you technofascist oppressors, oligarchs and family bloc nepotists. Online gambling is pathetic and an insult to the intelligence to the citizens of a country. Could we have REAL gambling at REAL outlets? Next we will be making Snooker or Basketball online (not that the latter should be so overpaid when the economy is collapsing – maybe a law to prohibits wealth asset for sportsmen from reaching above 20 million until all the homeless and starving or orphaned in their hometeam’s city has been eradicated) as well, then that will be the end of general health and physical activities. Back to gambling Want to play a card game? Dominoes? Dice? Craps? Jackpots? Roulette? Leave the computer NERD world alone and have REAL OUTLETS (IRL!!!) and REAL PEOPLE and REAL CROUPIERS (if not robot croupiers) instead. This is just insulting and another reason for PAP to be given the boot. PAP can stay online by itself, the rest of the Singaporeans can gamble for real even if only in terms of cents and not hundreds at a time. Its for FUN not a profit engine or for ‘VIPs’ with money. Sickening PAP government policy writers. In civilisation, I’d say 95% of people thus far are base/common minded – the wealthiest (hoarding wealth mindlessly being the very worst people (out of sheer insecurity and refusal, even cynicism, to trust or invest in the society that grew them such wealth in the fist place . . . ), politicians being the greediest for power and most disregarding of term limitrless ALL potential dictators and possibly genocidal absolutists. Thats what makes philsophers and those face conscious noble families so ‘upper crust’. That top 5% people with a sense of ethics though are doubtless not participating in society sufficiently – probably in fear, though some will just charge ahead to make a point.
Where’s that Confucian Ethics class in school? Start them off young, those who lose their way later will indeed become the 95% of common rabble as life (or the propaganda and even psychiatric establishment) wears them down. Those who keep their principles though will be the true 5%, disregarding trappings of course. For wealth, there is also the 99% poor or average wealth types that the 1% parasitise off who need to sock their own message via the vote to. If you vote, check the assets or if the candidate even wants to declare assets. For power and hegemony issues, any who don’t want to engage the public to discuss term limits (you can identify them as the politicians who practice ‘elegant silence’ (more like tacit approval to abet vested interest), lower taxes should also be dropped as being unvotable. Regulate online gambling? There is no need for online gambling if small gambling outlets opened from 4D outlets are available. REAL life gambling is already over-regulated as it is. Here’s a spot of occult theory – real life gambling is an outlet for the Quantum chakra which is being harnessed by evil governments . . . by creating an inhumane environment where no real life gambling is allowed, the only outlet for this chakra would be to WORK as part of the machinery at whatever god forsaken industry WITHOUT consent – this is an abuse of SPIRITUAL Human Rights.
So do gamble as much as possible though with friends privately at least instead of enriching professionally trained croupiers (more so at 1 to 1 odds – i.e. the more players the safer), gamble like this until the law which can be changed by voting in the right MP, allows small outlets, possibly with LOSS LIMITS prohibitions on people who lose up to 10% monthly salary or 10% of total assets. A register could be used nationwide to prohibit those who have lost their limit for the month. Stop this over-regulation by voting PAP out. Vote for MPs who will ABOLISH GST VAT even Income Tax and COEs instead. This is a distraction. The above are the real issues to base votes on. Vote poor and term limit accepting representatives only! Also limits of maximum Capital assets! Wealth and land distribution means harmony. Gambling in small outlets is a Human Right that no government has a right to take away.