If you are looking for a place where you can bet using Singapore Dollar then this is the right article for you. Singapore has the reputation of being a central part of the Asian gambling industry because its citizens are willing to place wagers on sporting events from around the world. Unfortunately for them, the country has very strict gambling laws and many people have concerns whether or not they can bet using foreign bookmakers. We will discuss this topic later on and will share some information about the sports betting websites which accept the Singapore Dollar as a deposit currency.
Where can you bet using Singapore Dollar?
|Bookmaker||Founded||Jurisdiction||Bonus||Min. Bet||Max. Bet||Grade||Review|
|1999||United Kingdom||£30||£2||No max||
At the moment, there are only two websites which let their customers use the Singapore Dollar as a betting currency and they are BetVictor and bet365. You can read about the different deposit and withdrawal methods that they offer in the paragraphs below:
- Bet365 – Bet365 has the reputation of one of the best betting websites on the planet, so it’s not surprising that they accept the Singapore Dollar. You can make a deposit there by using Click2Pay, Entropay, Skrill, cheque, wire transfer and credit or debit card. These methods can also be used to make withdrawals, but we wouldn’t recommend withdrawing with a cheque because it’s slow and there are better options. If you can’t wait, go to Bet365!
- BetVictor – Unlike bet365, BetVictor doesn’t offer the same number of deposit options. In fact, their customers can only deposit and withdraw money using Skrill or debit/credit card. If the gambling laws in Singapore loosen a little, we expect that this list will grow. Come on, BetVictor awaits you!
Gambling Tax in Singapore
If you win any money gambling at a website based in Singapore then you have to pay gambling taxes, but this doesn’t apply to foreign bookmakers. The cash you win from betting classifies as capital gains, which means that you don’t have to pay any tax on it.
The government wants to avoid Singapore becoming a country where money is being moved illegally through bank accounts, so if you are winning a lot from gambling, make sure to keep track of your records because you wouldn’t want to answer questions about your bank balance.
What payment methods should people who want to deposit in Singapore Dollars use?
We mentioned earlier that many people in the country like to gamble and many of them are have concerns about the current gambling methods due to some old laws which no longer apply.
It would be best to use a debit or credit card for a financial transaction to and from your bookmaker because you don’t have anything to hide, however, if you’re still concerned and don’t want to risk anything then we suggest using e-wallets like Neteller and Skrill to make payments. When you use them, there won’t be any trace of the transactions to the bookmaker on your bank account, just the ones where you deposited money to your e-wallet.