Singapore Pools
Encyclopedia
Singapore Pools is the only legal lottery
Lottery
A lottery is a form of gambling which involves the drawing of lots for a prize.Lottery is outlawed by some governments, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments...
operator in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, incorporated in 1968 to curb illegal gambling
Gambling
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods...
. It provides a legal avenue for betting in Singapore.
Since 1 May 2004, Singapore Pools is owned by Singapore Totalisator Board, a statutory board under the Ministry of Finance
Ministry of Finance (Singapore)
The Ministry of Finance , is a ministry of the Government of Singapore responsible for administering and regulating financial institutions and structures of the economy of Singapore. It is headed by the Minister for Finance...
.
Singapore Pools' stated aim is to provide a legal avenue for betting in Singapore to counter illegal betting syndicates, and to devote surplus earnings towards worthy causes that serve the needs of the community.
Sponsorship
One of Singapore Pools' first projects was to raise funds for the Singapore National Stadium, operated by the Singapore Sports CouncilSingapore Sports Council
The Singapore Sports Council is a statutory board under the Ministry of Community Development, Youth and Sports of the Singapore Government...
. To this end, Singapore Pools contributed S$14.5 million towards the project. It also helped the Stadium repay a government loan of $7.8 million meant as start-up money for a stadium management corporation.
Singapore Pools remains a major sponsor for the Singapore Sports Council. Money from Singapore Pools is distributed to various National Sports Associations (NSAs) and other organizations. In return, Singapore Pools is acknowledged as Partner in Sports.