Singapore is known for its strict gambling regulations. Nevertheless, unlicensed online casinos are still a risk that bettors like you need to be aware of. While they also offer an excellent betting opportunity, what differentiates them from a licensed one is that it comes along with certain risks, and more often than not, far from reality.
In this article, let’s break down the key differences between the two, helping Singaporeans like you make more informed betting decisions. Looking at the top 10 online casino Singapore will make it easier to understand what sets regulated platforms apart and how they can give a safe and rewarding gameplay.
Can Singaporeans Play in Casinos?
Before anything else, let’s set the record straight: are Singaporeans allowed to bet online? And with that, the clear answer is yes! Singaporeans are allowed to bet online on classic casino games and even sports betting.
However, it is strictly regulated and there are some regulations that need to be met. One thing is by betting in Singapore Pool, a state-owned lottery subsidiary company in Singapore created to counter illegal gambling. But aside from this, another option bettors can choose from is opting for a licensed offshore betting site.
Since the Singaporean’s jurisdiction is only limited within the country, technically, there aren’t any legal risks that come along when you opt to bet on them. What is important is to make sure you choose a licensed online casino to make sure of their legitimacy and they are reliable to give you excellent gameplay.
What Are the Key Differences Between Licensed and Unlicensed Online Casinos?
If you still don’t know what differentiates a licensed online casino from an unlicensed one, then don’t hit the register button yet. Learn first what they are to ensure that you will step into the right betting platform. Here are three key differences every Singaporean bettor should understand:
Licensed gambling site
The most basic way to ensure you are in a trusted online casino Singapore is by looking at their licensing. They must be regulated by reputable gambling authorities including PAGCOR, First Cagayan, Malta Gaming Authority (MGA), or the UK Gambling Commission (UKGC), to ensure fair games, secure player funds, and responsible gambling practices. Unlicensed casinos, by contrast, are without a legal framework and therefore don’t guarantee protection in case of foul play.
Secure payment methods and payouts
One of the biggest benefits of playing at a licensed casino is knowing that your banking options are safe and reliable. Since it’s a licensed platform it works with well-known payment providers such as Visa, Mastercard, and even cryptocurrency, making transactions safe. They also have strict payout policies to ensure that players receive their winnings in a timely manner. Unlicensed casinos often take ages or outright refuse withdrawals, and players can do very little about it.
Fair gameplay and transparency
Needless to say, licensed online casinos offer fair gameplay as they follow the standards set by reputable gambling authorities. Most of the classic casino games use Random Number Generators to ensure unbiased outcomes without any manipulation. Not to mention that they are regularly verified by eCOGRA to verify that the games are completely random and fair. In comparison, unlicensed casinos can have no oversight and their games could be rigged to make the player’s win mostly reduced. Without regulation, there is no way to ensure the integrity of the games being offered.
The Risk of Playing at Unlicensed Online Casino
When you’re not careful enough, and end up in a not licensed online casino, know that there are certain risks that come along with it. Losing your money is just one thing, it can generally turn your gameplay into a nightmare. Here’s why you need to think twice before betting on an unlicensed platform:
Exposed to legal risks
Considering Singapore’s strict gambling regulation, there’s no need for further explanation as to why unlicensed online casinos might put you at legal risk. The government actively monitors and restricts unauthorized gambling authorities, and if you are caught, you might face penalties. More reasons why you should opt for the best online casino Singapore, not only will you have fun gameplay but also a safer one without any legal consequences.
Delayed or denied withdrawals
Yes, it’s a possibility that you can’t have your winning once you choose an unlicensed online casino. Since these platforms work outside of the law, they are at liberty to deny you a payout or set unbearable terms before they will process your withdrawal.
No responsible gambling measures
More often than not, unlicensed online casinos don’t really care about the player’s sake. So why would they make an effort to have responsible gambling measures? After all, this might just stop gamblers from betting excessively, something that unlicensed casinos are likely to ignore, making it easy to bet with no protection whatsoever.
Frequently Asked Questions
What is the Gambling Control Act 2022?
As the name implies, it is a gambling act aimed to stop any form of unlawful gambling in Singapore. It provides a more comprehensive regulatory framework including those in online and land-based activities covering from casino games to lotteries and betting.
Why is it important to choose a licensed online casino?
Choosing a licensed online Choosing a licensed online casino will give you the kind of gameplay that you expect and even more. More importantly, it will ensure that all of the outcomes of the game are fair and unbiased and all of your personal and financial information is secured.
What is the penalty for illegal online gambling?
If by any chance you get caught for unlawful gambling, you will be fined up to $500,000 and an imprisonment of up to 7 years. But if you get caught again, you will face a much higher fine reaching up to $700,000 and a maximum imprisonment of 10 years. So just if the thought of it scares you, then make sure to choose Singapore trusted online casino at SGCasinoInsider.
