The Singapore Pools Tanjong Pagar branch underwent a “facelift” in 2021. Source: Singapore Pools
A record $12.2 billion in bets were placed with Singapore Pools in the latest financial year.
It’s in human nature to enjoy winning—especially when money is involved. Gambling thrives on this instinct, making it a global industry worth over $500 billion annually.
In Singapore, aside from the casinos, one of the most accessible ways to gamble is through Singapore Pools, either at physical outlets or online.
The Origins and Growth of Singapore Pools
Singapore Pools was founded by the Government on 23 May 1968 to curb rampant illegal gambling syndicates. By providing a legal and regulated alternative, it aimed to control the risks associated with underground betting.
Initially, Singapore Pools only offered TOTO, but as gambling demand grew, it expanded its offerings:
- 1986: Introduced 4D betting.
- 1999: Launched the Singapore Sweep.
- 2004: Added sports betting (football and motor racing) to combat illegal gambling on international sports events.
- 2016: Approved to operate online gambling platforms, addressing the rise of digital betting.
Despite the different betting options, the age-old saying remains true: “The house always wins.” While some gamblers strike lucky, most lose their wagers. So, what happens to all that lost money?
Where Does the Money Go?
Singapore Pools is Run by the Tote Board
Singapore Pools is owned by the Singapore Totalisator Board (Tote Board), a statutory body under the Ministry of Finance. Established in 1988, the Tote Board took over Singapore Pools in 2004 to centralize betting activities.
The Tote Board doesn’t just manage Singapore Pools—it also oversees horse racing operations via the Singapore Turf Club and collects casino entry levies from Singapore’s two integrated resorts.
A portion of all gambling losses goes towards:
- Government taxes and duties
- Tote Board’s community funding initiatives
Breaking Down the Numbers
In FY2023/2024, Singapore Pools generated:
- $12.2 billion in bets (a 7% increase from the previous year).
- $2.29 billion paid in gambling duties and taxes.
- $437 million allocated to the Tote Board for social funding.
This represents a substantial contribution to public initiatives. Over the years, the Tote Board has given over $10 billion to causes spanning education, healthcare, and social welfare.
How the Tote Board Uses the Funds
The Tote Board’s contributions support a variety of sectors, including:
- Crime Prevention & Social Services
- Funds the National Crime Prevention Council.
- Supports MSF’s Family Intervention Division for at-risk families.
- Healthcare & Community Well-being
- The Tote Board Community Health Fund (TBCHF) backs innovative healthcare projects.
- Supports initiatives like the KeyStart Home Ownership Programme, which helps low-income families afford HDB flats.
- Education & Workforce Development
- Funds skills training and scholarships for Singaporeans.
- Invests in programs promoting financial literacy and responsible gambling education.
The Sole Legal Operator—Why This Matters
Singapore Pools remains the only legal provider of lottery, sports betting, and horse wagering in the country. By keeping gambling within a regulated system, authorities can combat illegal syndicates, ensure responsible gaming practices, and channel profits towards national development.
Gambling Losses That Benefit Society
While the majority of gamblers lose money, the structured framework of Singapore Pools ensures that these losses don’t just disappear—they get reinvested into society. Whether it’s supporting vulnerable communities, funding public healthcare, or contributing to national crime prevention efforts, a portion of every lost bet helps build a stronger, more resilient Singapore.
If that comforts you, it’s a bit like doing charity.
That being said, responsible gambling remains crucial. While the Tote Board does fund education and social services, individual financial prudence is essential. After all, the best bet you can make is on your own financial well-being.
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