does not change the Government\u2019s approach towards gambling but instead acts as a social safeguard by not allowing social gambling to occur in places such as hotels and chalets. <\/strong>\u201cIndividuals should exercise personal responsibility in deciding whether to allow underaged individuals to engage in such activities\u201d, he concluded.\u00a0\u00a0<\/p>\n<\/img>
<\/br>Desmond Tan, Minister of State For Home Affairs<\/pre>\nThe Gambling Control Bill will explicitly make it illegal for people under 21 to gamble<\/strong>, and it will be considered an offense for those under 18 to do so at Singapore Pools\u2019 physical outlets.\u00a0<\/strong><\/p>\nIt will also criminalize proxy gambling<\/strong> in casinos and fruit machine rooms. In response to MP Louis Chua<\/strong>\u2019s enquiry on how casino operators intend to help enforce against these practices, Tan stated that casino staff are trained to detect proxy gambling. \u201cCasinos will be liable to regulatory action, like financial penalties, if they fail to enforce this\u201d, he assured.\u00a0<\/strong><\/p>\nAnother topic of debate circled around NFT (Non-Fungible Tokens)<\/strong>, and whether they should be considered as gambling due to the amount of speculation involved. To Tan, most NFTs do not fall under the regulatory remit of the Monetary Authority of Singapore (MAS), as they are used mainly to tokenize digital art and other collectibles.\u00a0\u00a0<\/strong><\/p>\nShould an NFT have the characteristics of a capital markets product under Securities and Futures Act, it will be subject to MAS\u2019 regulatory requirements,<\/strong> and therefore exempted from the definition of betting under the Gambling Control Bill.\u00a0<\/p>\n“Creating or trading NFTs is not considered gambling, unless there is an element of chance involved in their creation or trading,” he added. “However, gambling services that use NFTs as stake or prize will be covered in our gambling legislation.”<\/p>\n
Separately, the Gambling Regulatory Authority of Singapore Bill will set up the Gambling Regulatory Authority around mid-2022. <\/strong>The authority will regulate the entire gambling landscape in Singapore which is currently overseen by multiple agencies.<\/p>\nThe country currently has four gambling regulating bodies<\/strong>: the Casino Regulatory Authority<\/strong>, in charge of Singapore\u2019s two casinos; the Gambling Regulatory Unit in the Ministry of Home Affairs<\/strong>, which regulates online gambling services and fruit machines;\u00a0 the Singapore Totalisator Board<\/strong>, governing physical gambling services operated by Singapore Pools; and the Singapore Police Force<\/strong>, which takes enforcement action against unlawful gambling activities.\u00a0<\/p>\nThe creation of the Gambling Regulatory Authority intends to establish one single body that brings all oversight to the industry.<\/strong><\/p>\n<\/p><\/div>\n\n