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Timor-Leste After gaining independence in through a public referendum from Indonesia, Timor-Leste struggled to find new forms of economic revenue streams. While it negotiated for oil drilling concession rights with neighboring Australia, Timor-Leste explored with awarding casino licenses. In , the Malaysia-based public listed slot machine maker RGB International submitted the first application for a casino license paying a USD, deposit, only to face delays in license issuance.
RGB subsequently withdrew their application Thailand, Indonesia and Brunei There are no legal gambling operators in these three countries. Brunei and Indonesia are sharia law countries and prohibit any form of gambling. Those who are found to be gambling are imprisoned or fined.
Oceania The Oceania region consists of all the Pacific Ocean island nations i. For the purposes of this paper, we will focus on Australia and New Zealand for two reasons. The first is the small population size of the Pacific Island nations wound render any sports betting market to be a very minor industry.
Second, the Australian and New Zealand sports betting markets are very mature industries able to offer deeper insights for fantasy sports regulatory models elsewhere. Gambling Act and Racing Act are the two laws that regulate gambling and sports betting in the country To better control sports betting, only two government-linked organizations—the New Zealand Racing Board NZRB and Lotto New Zealand, are allowed to offer sports betting and online sports betting within the country. Interestingly, offshore betting operators while they cannot market their products in New Zealand may offer wagers to New Zealanders.
Fantasy sports operators, however, may be caught out through the prohibition of interactive gambling in the Gambling Act , but fantasy sports competitions may escape the legislation. For example as part of the guidance on the Act, the New Zealand Department of Internal Affairs offers this explanation 67 : If any competition involves "gambling" and there is consideration paid to enter then it will breach the prohibition on remote interactive gambling.
Where a competitor chooses or selects winners for future games or sporting events this generally involves some element of chance as well as skill. If entry is genuinely free it will not be caught by the Act. If there is some consideration or more than a true communication cost then this type of competition will be caught by the Act.
If this explanation of the intention of the law is strictly interpreted, fantasy sports team selection which is a skill can be allowed, as it is not selecting winners or winning events, but rather the performance of individual real-life players. New Zealand also hosts six land-based casinos first approved through the Casino Control Act , although further issuance of casino licenses was curbed with the Gambling Act Under the same law, casinos cannot offer internet gambling to local citizens.
For a nation of just over 25 million people, the level of gambling on a per capita basis is incredible. Australia is also home to 13 land-based casinos. Gambling is regulated at the state and territory level 71 in Australia. As of , there are different gambling laws including amendments across all states and territories There is legal precedent that a gambling law once approved in a state or territory is applicable across at the federal Australia wide level Despite this, the advent of offshore gambling sites into Australia resulted in federal legislative response.
Specifically the law prohibited online gambling that involved all contests that included chance or a mix of chance or skill, rewarded with cash prizes, required entrance fees to play and even bets between online platform participants. To overcome this legal gray area and to preempt a future legislative tilt, existing fantasy sports operators seem to have hedged their legal position by partnering with Australian sports governing bodies, strengthening the argument that fantasy sports increases fan interest in the sports leagues and thus legal sport betting.
This in turn besides positively advocating for the societal and sports industry benefits of encouraging fantasy sports contests and increases government tax revenues. Overview Our review of the legal and regulatory landscape of the Asia-Pacific fantasy sports industry, covering 21 countries, offers five important insights for stakeholders. The first insight is that contrary to common perception, legal sports betting is available in a third of countries nine countries in the Asia-Pacific region.
As in most cases, there exists a hierarchy of such product or bet offerings in these various national markets. Australia and New Zealand jointly head the hierarchy, by allowing sports bets in all major sporting codes. Japan occupies the second rung with punters able to bet on five sporting events—the local football league J-League matches, horse racing, auto-racing, cycle racing and speedboat racing. Taiwan, South Korea, Singapore and Hong Kong take the middle positions of the hierarchy by sanctioning bets on a few major sports including overseas leagues.
At the bottom of the rung is Malaysia and China. Malaysia offers horse racing bets, while Chinese sports betting is limited to international football matches through a state lottery. Collectively, these nine jurisdictions have established laws regulating sports betting, which may signal regulatory acceptance of fantasy sports to coexist. Our analysis shows this is the case for Australia, New Zealand and Singapore.
The second insight is that it is abundantly clear that there exists no fantasy sports per se regulation in the Asia-Pacific region. However, because fantasy sports is almost exclusively organized through the internet and thus online, many Asia-Pacific jurisdictions have enacted online gambling laws that may impact fantasy sports competitions. Only New Zealand allows offshore betting operators to take online bets including online sports bets onshore although they cannot market their services onshore , while Australian law and Singapore law regulates through state licenses online sports betting within the country.
Such a scenario offers fantasy sports operational security in the form of the Australian regulatory model. That is since sports betting is legal in these markets albeit in limited number of sports regulators can require fantasy sports operators to be licensed. The third insight is that second largest potential sports betting and fantasy sports market in terms of consumer size—Indonesia population of million —being a Muslim nation, does not currently allow any forms of gambling or onshore betting whatsoever.
It would not be over zealous therefore, based on the market conditions elsewhere in the region, to state that offshore sports betting providers already have bridged the gap. Despite that, Indonesia may yet offer future opportunities for betting operators because of its unique political framework. While being the largest Muslim country in the world, Indonesia practices a moderate and tolerant form of Islam in most of its provinces The exception being the island of Sumatera, especially northern Sumatera where strict sharia law is enforced.
Bali also has liberal laws for alcohol consumption forbidden in Islam and Western style tourism lifestyle. An existing sports betting model horse racing has been in existence in neighboring Muslim Malaysia since , which also is one of just four Muslim countries in the world that hosts casinos.
Four national football governing bodies China, South Korea, Japan and Australia are already actively working with fantasy sports providers, and given their combined market sizes and formidable role in regional marketing rights agreements, there exists an opportunity for the regional football governing body—the Asian Football Confederation AFC —to take the lead in self-regulating football-based fantasy sports competitions. A parallel model known as sports integrity fees in sports betting as used in Australian sports could serve as an example for the AFC Australian sports betting operators pay national sports governing bodies an integrity fee for use of match data for gambling purposes i.
Such market stakeholder-driven self-regulation may help lawmakers in the Asia-Pacific take regulatory risks or ease restrictions on fantasy sports competitions. The medium-term impact would be increased fan interest in the actual game. The AFC has trialed early moves with fantasy sports within its flagship Asian Cup championships 82 but remains on the sidelines for further expansion of this strategy.
This is contrast to its peers such as the European football governing body UEFA, which already actively promotes fantasy football using its own website. Our review in this paper has revealed that the gambling industries in Macau, Laos, Cambodia, Philippines and North Korea are directly dependent on Chinese gambling tourism.
Further evidence from the Philippines, where Chinese gamblers can indirectly bet online, showcases the massive size of both legal and illegal online gambling in the Asia-Pacific. As such, the recent move by China to curtail gambling tourism activity of its citizens 84 may result in significant increase of illegal offshore online betting. While it remains unclear as to the share of sports betting in this pool, there remains a strong probability much of this gambling tourism wagers can be parlayed into illegal sports betting sites.
What are the implications for fantasy sports operators? For one, with increased outflows to illegal online sites, regulators may turn extremely conservative to offer any concessions for fantasy sport that will create loopholes for illegal gambling. Second, forward-thinking regulators may sense an opportunity to channel these new wagers to fantasy sports competitions by enacting specific fantasy sports laws, which have curbs against pure chance like competitions. Regulatory framework for the Asia-Pacific fantasy sports market In this section, we return to the seven Nevada sports betting model regulatory best practices and consider the findings from our analysis.
We then offer a regulatory framework for Asia-Pacific legislators and stakeholders: Integrity is paramount in the game; sports betting will fail if the game itself is riddled with integrity legacy issues We find Asia-Pacific is still a hotbed for global football match fixing 85 despite a long history of such activities. International sports data company Sportradar reported match fixing incidents in Asian football matches even during COVID in Therefore, sport governing bodies, in particular the Asian Football Confederation, need to improve its strategies to combat this malaise.
Without confidence in the integrity of matches, lawmakers would be reluctant to approve sports betting and fantasy sports for the masses, if consumers are exposed to cheating on the field. State-level jurisdiction is supreme to federal level laws; Australia, Japan and China are the three jurisdictions that have both state regional and federal gambling laws.
In the past until , regions in the Philippines also had the right to grant gaming licenses. State-level authority to grant gambling licenses has the advantage to meet local conditions and needs such as tax codes, local job creation, religious factors and political climate. State lawmakers are more in touch with public sentiment toward gambling in their local constituencies. In the Asia-Pacific, the lack of access to online legal sports betting is a very high opportunity cost to a punter.
Therefore, thousands of illegal operators thrive in the market to fill the market need. This is the single biggest reason to legalize sports betting, by simply offering a legitimate product or service. The political reality in countries such as China, Laos, Cambodia, Malaysia and the Philippines continue to see direct government intervention in commercial gambling markets. New market players would be cautious of making major investments in sports betting and fantasy sports infrastructure if such interventions take place despite existing legislation.
Illegal punters are here to stay, so enforcement must be ongoing despite regulation There is strong enforcement evidence against illegal gambling in Malaysia, Singapore, China and Australia. The New Zealand model of approving offshore operators legal and illegal to offer online bets to locals is rather unusual and may actually deter predatory illegal operators.
At the extremes, the Philippines regulation of licensing offshore operators to operate from the country largely for China based punters is another special business model that competes with illegal non-licensed offshore operators. The New Zealand and Philippines models are examples pre-emptive enforcement. The Nevada model called for a comprehensive technology integrity at all levels of gambling especially with online gambling or wagers taken outside the casino environment.
The Nevada Gaming Commission established in regulates technology in gambling. In our analysis, we did not encounter other than a passing reference a discussion on gambling technology in the Asia-Pacific. What we did find were the availability of many private proprietary fantasy sports platforms in Asia for the Indian market 87 , which raises the question: how as a regulator do you ascertain the credibility of these technologies?
Consumer gaming protection. There must be a comprehensive plan for problem gambling Australia, New Zealand, Singapore and Japan have established strong and clear protection for problem gambling. The Japanese government, bowing to public pressure, even passed in the Specified Tourist Complex District Development Act The Development Act to placate fears of negative consequences of its decision to allow casino licenses.
To mitigate pushback from a wary Asia-Pacific public, legislators need to institute strong grassroots initiatives for problem gambling. Given the complex level of action and regulation required to meet this best practice Nevada regulatory framework, we believe it would take a combination of political courage, change in public opinion, sport governing body co-operation, consumer demand, government tax revenue imperatives and industry lobby to achieve the end game.
But the Asia-Pacific sports betting and fantasy sports market cannot afford to be a laggard market for years only because of weak regulation or even reluctance to legislate. Therefore, we suggest an interim regulatory strategy for sports betting and fantasy sports in the Asia-Pacific: Our analysis revealed that as of May , 13 countries already license land-based casinos in the Asia-Pacific enacting specific legislation such as those found in Macao, Singapore, Australia, Japan and the Philippines.
This opens up opportunity to amend legislation to award sports betting licenses tied to these already strictly regulated existing casino licenses. Such a model was the one adopted by US states immediately after the Supreme Court ruling, and one that the Philippines has recently December emulated for three of its land based casinos.
Asia-Pacific regulators can replicate the US model and extend this by requiring the casino sports betting licensees to offer fantasy sports tournaments. Many casinos also run onsite internet gambling devices so theoretically the infrastructure gaming systems can be scaled up to offer online sports betting and fantasy sports games.
Nevertheless, while encouraging the casinos to invest and offer fantasy sports platforms, to safeguard the risk of their monopolistic behavior, the exclusive fantasy sports licenses should have an expiry timeline of 5 to 10 years. This option serves both as a highly attractive windfall business opportunity for casinos to scale revenues, while regulators and lawmakers are able to immediately lower regulatory and policy risk of fantasy sports with a known entity casino , which is incentivized to ensure strict compliance with the new rules.
Further, gambling sports betting and entertainment fantasy sports taxation revenues for governments are centralized at the casino, significantly reducing tax collection risks. Future research agenda There was one critical finding from our analysis that warrants further scholarly research.
Plenty of people still fancy their chances even if the odds of winning the top prizes are extremely low. According to professor Robert Williams who specialises in gambling studies at the University of Lethbridge in Alberta, Canada, there are three main reasons why people enter the lottery.
Second, the human brain still cannot make sense of extremely low probabilities. Tong Aik Huat in Hougang is popular with taxi drivers who purposefully drive to the HDB block to place their bets, while Ng Teo Guan Self Service at Ubi is crowded with foreign workers from the industrial estates in the area.
The demographic of lottery buyers is also curiously almost the same around the globe. A study by Carnegie Mellon University finds that the poor see lotteries as their best opportunity for improving their financial situations, due to the equal opportunity they have to win as everyone else regardless of financial status. For many elderly in Singapore, buying the lottery is also a reason to get out of the house for a social activity. The conversation begins with the shocking upset in the Germany-Korea football match, and then steers to the local front for a deep and heated discussion on the oBike controversy.
Win the smallest prize also good ah. I take one look at my phone, and crush the pink slip up along with my sliver of hope. Have something to say about this story? Write to us at c ommunity ricemedia.
SPORTS BETTING ARBITRAGE OPPORTUNITIES
Your ability to respond or react fast plays an important role in making your bets successful. In real time, several players enter their bets simultaneously. The vibrant and dynamic odds change depending on the course of the event. You can find all relevant information being displayed in real time including the existing score, elapsed time and many more.
Live bets are available for a wide variety of sport events. What is live money in betting? Bettors can wager during a live game with various lines posted after the commencement of the game. As the game progresses, online casinos post fresh odds on the spread, money line and totals based on the performance of the teams. The profits can be locked in before the play and betting can be done during the game. This is how you can use live money in sports betting. You need to react fast as a bettor based on the Singaporepools football odds or odds for other types of sports events.
It is necessary to stay focused and be prepared to hedge your bets at the right time. What is an in play wager? In-play wager refers to the betting that occurs after an event has begun and up to the conclusion of the event. These types of wagers are extensively used in most types of sports including football, horse racing, basketball and more.
An in-play wager is also known as live betting. Many people depend on reliable online casinos to get engaged in the in-play wager. If you want to make use of in play wager in football betting, you can depend on Singapore pools soccer oddsto get realistic and dependable information. How do I join a live betting? First of all, you have to identify a trusted online live casino that offers live betting services.
In order to start playing, you need to register with the site by providing relevant personal details including bank accounts. Once the registration is complete, you can login using your username and password. After choosing one you wish to bet on from a list of upcoming and ongoing spots events, you can start placing wagers. The amount must be entered and clicked to confirm the wager. What is exchange betting?
Exchange betting refers to the process of betting against other individuals, instead of a bookmaker. An online betting platform or exchange matches up all people who want to take opposite sides of a specific wager. All wagers agree that they are working as the middlemen between the baker and layer. Before creating authentic Singapore soccer odds, a team of highly experienced bookmarkers and betting experts researches and analyses various factors. These details can be used by both beginner and expert bettors to make smart and informed betting decisions.
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It provides you with a wide range of options, as well as unlimited access to endless fun! Football betting is a type of sports betting that has an unlimited number of ways to win. Football betting has simple rules that must be followed. Our football betting games are open to all players. Live Singapore Football is a modern football that provides football event information such as historical data for analysis and match details, statistics, standing tables, and lineups.
Notifications for goals and highlights are sent in real time. Its goal is to make it easy for users to check odds and livescore. Singapore Pools App The Singapore Pools mobile app gives you access to online betting services as well as lottery results, sports fixtures, and results from the only official source.
If a session has been unresponsive for more than half an hour or another session has been started, it will log you from your account for security reasons. You can continue by logging in again. Remember to log out after each session to protect your account from unauthorised use. Singapore Pools App works best on Android devices operating on recent Android releases, and on Apple devices operating on recent iOS releases. If you are viewing from a desktop or laptop, you will see a QR code that you can download.
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Half-Time Betting Times These include half-time betting times, including live betting, which occurs in half-regulation time. This includes 45 minutes or any other time indicated by the organizer. It includes injury time and excludes extra time. Extra Time Bet Types For extra time betting, there are also a set of bets available for that purpose. Visit BetVision now! There will a refund of the Singapore pool football bet type if they cancel the Championship for any reason before completion.
Provisions: To avoid doubt, subsequent amendments to points, goal difference or any other attribute of the team that was created by the organizing body of the chosen league after the company has made the victorious selection will not count toward the Singapore Pools SG sports results. For avoiding doubt, if the SG Pools odds match is called off and treated as abandoned, postponed, suspended or cancelled before the bet type is determined, the bets are void and refunded.
Barcelona won in Extra Time. Provisions: Own goals and goals in penalty shoot outs made to determine the winning team is not a valid Singapore soccer odds goal. Shonan Bellmare vs Sagan Tosu » How does sgodds works? When a football event is made available for online betting at singapore pools website, sgodds will read both opening plus current odds and update on it's site. This 'read process' is executed in intervals hence the latest odds are always 10 minutes behind sg pools.
They are then constantly tracked on the Current Odds and individual match page. Odds will no longer be updated once a match starts removed from sgpools and all movements from open till closed will be moved to Past Soccer Results webpage remaining accessible to punters for 1 month. How sgodds differs from other odds tracking websites?
It provides a suite of tools and calculators that analyze odds movements, profitable leagues and historic results etc. This is especially useful, e. Saturday evening where punters are faced with more than a dozen matches from different soccer leagues that start within an hour of one another. How sgodds simplify betting needs? Tools provided on sgodds does not predict scores nor are they programmed with AI that picks sure-win selections
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