Singapore Pools is one of the most respected and appreciated companies in Singapore. It offers a range of entertaining and thrilling games while ensuring a safe gaming environment. It is a company with a strong set of values that it is dedicated to following. These include respect, integrity, innovation, customer care and community. The company has won several awards and accolades over the years.
Founded in 23 May 1968, the Singapore Pools was established to tackle illegal gambling activities and provide a safer alternative for Singaporeans to bet their money. However, this was not an end-all solution, as blanket bans would simply drive these activities underground and put more money into the hands of triads and illegal bookies. This is why the Singapore Pools was set up as a government-controlled organisation, with profits from the company channelled back into the community through its parent, the Tote Board, to fund charities and worthy causes in the country.
Since its inception, the company has collected close to S$9 billion from its games. This is made up of 70% returned to winners, 22% collected by the government as tax revenue and 5% channelled to the Tote Board to be redirected for charities and grants. The remainder of the funds is used to pay operating expenses and investments in infrastructure, technology, research and development.
The company has adopted a digital strategy to shift away from traditional counter-service to an online, mobile and offline experience. It has also launched a personalised platform for its cash customers that allows them to onboard, manage and bet online. It has also committed to work with the authorities to combat illegal gambling activity.
In order to make its services more accessible, Singapore Pools has introduced the Singapore Pools Account which is a one-stop service that provides all of your betting needs for Lottery, Sports and Horse Racing. The account also helps you to stay in control of your betting spending by allowing you to set a Monthly Betting Limit. You can also track your monthly and annual spending and deposits through Transaction History.
Moreover, the account is easy to sign up for and requires minimal identification verification, making it a convenient option. You can register via MyInfo with Singpass or an online form. It takes about 2-5 minutes to complete the process and the identity check is free of charge. You can deposit money into your account using bank link, eNETS or cash in Singapore Pools branches. The website is mobile-friendly and you can also access it from your phone. The withdrawal and deposit methods are simple, but there is a transaction fee for each. However, the fee is less than what you’d expect to pay for a Bitcoin transaction. Moreover, the transaction fee is lower for online transactions.