Singapore Starts Consultation for Proposed Gambling Law Reform
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Singapore's Ministry of Home Affairs is seeking public input on the country's gambling industry. The ministry is responding to the growing overlap between online gambling and gaming. It wants to make the industry technology-neutral and differentiate between social gambling or games with gambling elements. The Ministry is also considering increasing the penalties for repeat offenders. Under the proposed changes, illegal operators and their owners could be fined up to $500,000 and face up seven years in prison.
There will be a $100 cap for games that incentivize consumers to buy in-game goods that contain a random prize. The ministry is aware that over-regulation is not always the best strategy. It's not desirable to disallow all forms of gambling. A pragmatic approach would be to license or exempt certain gambling activities while ensuring that consumers are protected.
