Singaporeans broke all records by spending SGD 9.2 billion or US$6.8 billion in the last fiscal year ending 3/31/2022, the industry as a whole grew by 44% compared to last year 2021. In addition, the capital of casinos and online games in the amount of 92 billion US dollars has become a record for the last 4 years.
Singapore is back on horseback
Tote Board of Singapore shared data on the unprecedented growth of this industry. In 2021, the amount spent on lotteries, sports betting and games was approximately 4.9 billion US dollars, which is approximately SGD 6.6. COVID-19 also did not leave this industry alone, as a result of the epidemic, some casinos and sports betting suffered, some even closed, but nevertheless the record was broken. Since 2019, the growth has been approximately 6 billion US dollars and this is as much as 14%, so you can see that the trend is not at its peak yet and soon we will see something similar to 2018.
Tote Board reports that in 2022, about SGD 125 million was raised in this area, and in 2021 this amount was 114 million, as well as in 2019 — the same SGD 114 million. Therefore, 2022, despite the situation around the world, turns out to be quite successful in this area.
While around S$131 million was raised in 2018, there was an incredible increase in activity that year.
But let’s not forget 2012, when Singapore set its all-time high of S$193 million.
Many casinos were closed several times during the epidemic period, such as: Marina Bay Sands and Resorts World Sentosa, but this did not affect the excitement of residents in any way and even fueled interest due to the period when it was impossible to play. In 2021, restrictions were also set on visits and the number of people who can be together in the same room.
Also, the visit limits were increased by 50%, which repelled a large percentage of visitors, many refrained from gambling due to this increase in gambling prices.
The racing trend was as follows — at this point, the players spent approximately SGD 818 million. In recent years, horse racing has lost its former relevance, but the trends are constantly changing and many people have found something else to their liking. thus, in 2012, the amount of player deposits amounted to SGD 1.7 billion, as in 2019, only SGD 1.1 billion.
The most significant drop in gambling infrastructure was in 2019 and amounted to 496 million Singapore dollars, which is 366 million US dollars.