Singapore Dollars Casinos
Is Singapore Dollar Gambling Legal?
We have unfortunate news for Singaporean casino fans. Singapore has strict anti-gambling laws that have been in effect since 2014. Online gambling is illegal, except for some locally-operated lotteries overseen by the government. You can learn more about the specifics of these laws on the government’s official web pages, but they’re pretty straightforward. What’s more unfortunate is the potential state of online gambling in the future. Despite neighboring regions loosening their laws about the activity, Singapore has drawn a hard line against it.
Players should keep in mind that they have no protection when gambling online with foreign operators. The situation is the opposite. The activity is outlawed, and those caught gambling online illegally will face hefty fines. Additionally, the government has created blacklists to prevent citizens from reaching foreign gambling sites. The only safety you’re guaranteed is when participating in the approved lotteries. If you run into any issues here, you can reach out to the proper authorities to come to a resolution.
How to Deposit with Singapore Dollar
Online gambling might be a fun activity, but the Singaporean government doesn’t think so. Since players face harsh restrictions and punishments for all things online gambling, most people in the region tend to avoid the activity. Of course, some feel the risk is worth it, so they find ways around the gambling ban and play in various offshore online casinos the government hasn’t caught wind of yet. Here are some of the few methods they use to make deposits:
- PayPal: PayPal is the most popular eWallet globally, so it should come as no surprise to learn that it supports Singapore dollars. You’re likely already familiar with what this service has to offer. Among other things, it comes with fast payment processing times, low transaction fees, and of course, heightened anonymity. It’s good to remember that while they’re on the lower end, the fees that come with the service vary depending on how you fund it.
- Neteller: Neteller is the second eWallet on this list. Since it accepts the Singapore dollar in its native form, players don’t have to worry about currency conversion fees from the platform itself. There are many perks to using Neteller, but the biggest one is anonymity. Your banking information isn’t shared with the website of your choice, so you don’t have to worry about scams. Speed is another excellent perk of Neteller, making deposits and withdrawals a breeze to get through. Overall, this service is a great choice that offers high levels of convenience.
- Skrill: Skrill is the final eWallet on this list. You might not know this, but the service is operated by the same company that runs Neteller and Paysafecard! With this information at your side, it’s not hard to spot the similarities between the services. Like its sister products, this one prioritizes convenience. It has relatively short processing times, excellent safety features, and an intuitive online banking platform. Since it’s easy to use, Skrill is an excellent choice for newbies to online banking.
- Paysafecard: Paysafecard is the least traditional method on this list. This prepaid card grants users in Singapore the highest level of anonymity when gambling online, but purchasing it with Singapore dollars can mean paying a bit more than what you can later deposit. While the security and anonymity of the service grants are unparalleled, its nature as a prepaid card means you can’t make withdrawals with it. If you want to cash out your winnings, you’ll need to add an alternative method.
History of the Singapore Dollar
The Singapore dollar is Singapore’s official currency. It’s currently issued by the Monetary Authority of Singapore, and it’s been going through many positive changes lately. Mainly, outside of its first residence, it’s been accepted as customary tender in Brunei, thanks to a Currency Interchangeability Agreement between the two regions. On top of this, the Singapore dollar has hit 13th place as the most traded currency worldwide. By all accounts, its popularity is seemingly on the rise.
For the history buffs, the Singapore dollar derives from the Spanish-American silver dollar that made its way to Asia around the 16th century. This coin was around for quite a bit, inspiring the Straits dollar in 1845. Naturally, the name came from the settlement Singapore was a part of. Still, this iteration was short-lived and was replaced by several other local currencies, until the forging of the first Singapore dollar in 1967. These days, the modern Singapore dollar boasts 17 iterations! Ten of these are used regularly, while the others are discontinued but still hold a legal tender.
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