SINGAPORE: Online gambling in Singapore could soon become the domain of the government and may cease to exist altogether. The government is studying measures that can be taken against online gambling, and to restrict access to — as well as patronage of — online gambling platforms. It is working with industry experts to study issues and learn from other jurisdictions to formulate a strategy. "I don't like all this censorship. If we want to do what we want to do in our own home, why should they care," 33-year-old account and online poker player Ryan Chow told Bikyanews.com. "Gambling isn't a big deal if people don't see it as such, but the government keeps wanting to make it something grander than it is." The study is expected to be concluded by the end of 2013. Second Minister for Home Affairs S Iswaran revealed this at the Casino Regulatory Authority's (CRA) workplan seminar on Friday. He said: "The global online gambling industry, estimated at US$400 billion in 2011, is expected to grow at an annual rate of nine per cent, with the Asian market representing a significant growth opportunity. "Online gambling is a new and potentially more addictive form of gambling, with greater access to the young and vulnerable. These risks will likely be magnified as the technology supporting online gambling further evolves." Iswaran, who is also a Minister in the Prime Minister's Office, said: "In Singapore, there are concerns within the community over the social risks associated with this highly-accessible form of gambling. The government shares these concerns. "We remain committed to especially protect minors and vulnerable groups in our society from the harms of gambling, be it terrestrial or virtual." The two casinos in Singapore reported their lowest gaming revenue in 18 months, late last year. The reported drop in visitors and profits by Genting Singapore and Las Vegas Sands have many believing the country's economic struggles are finally catching up with the country. The decline in revenue from gaming coincides with a slowdown in the island-state's economy, which the government forecasts will expand as little as 1.5 percent this year, and many fear recession is on the way. BN
