Lottery Singapore is the only lottery company in Singapore which is legally permitted to conduct lotteries and sports betting. Its goal is to curb illegal betting and gambling by countering the rampant syndicates that were present in Singapore. It also generates funding for social and charitable causes.
The lottery industry in Singapore has changed considerably since the 1970s. It has evolved into a profitable and well-regulated industry. The industry has also become a major source of income for many Singaporeans.
Despite this, there are still problems associated with the industry. In fact, there are certain people who are suffering from gambling addiction due to their excessive spending on lottery tickets.
This is the reason why there are strict measures in place to curb such behaviours. These include family exclusion orders and a family helpline to assist in tackling the problem.
As a result, it is important that family members be alert to the potential signs of problem gambling and encourage their loved ones not to bet too much. They can also seek advice from the National Council on Problem Gambling’s helpline or Webchat to learn more about gambling addiction and how to address it.
The easing of restrictions in Singapore last year led to a “dramatic surge” in the amount of bets placed on the country’s lotteries and sports, according to The Straits Times. It reported that $9.2 billion was spent on such bets in the 2021/22 financial year, an increase of about 40% from the previous year’s total.