|
Singapore plans to implement a tough legislation on online poker
Currently famed for its unprecedented economic surge, Singapore has also been a model in the Asian online poker industry in recent years. However, the regulated online poker market in the country could undergo some restrictions that would penalize both operators and players in the coming months. Indeed, Singapore is planning to update its legislation on online game to a certain approach that looks strangely different from that of other countries. Actually, the bill named Remote Gaming Bill would criminalize both players and poker companies operating offshore. Additionally, transactions proven as e-gaming money transfers to those offshore platforms would be blocked. As for the fine, players would be subject to a six-month imprisonment or a fine of up to $ 5,000.
And those who allow underage to gamble in their poker rooms are punishable by a fine of $ 20,000 to $ 300,000, accompanied by a sentence of six years' imprisonment for the violator. Tough as it seems, the said bill appears to be one of the means with which Singapore aims at nationalizing its online gaming operations. Interestingly, the bill authorizes online poker operations within the country, but, the operating online gaming sites must be based in Singapore. It is still worth mentioning that online poker market in Singapore values at USD 416 million, the 95% of which is gambled on offshore gaming sites. Alongside Singapore, Mexico is also poised to update its online gaming legislation that would set, among others, the minimum gaming age to 21 years-old.
Source: Jack SMITH
Monday, 15 September 2014
This page has been viewed 946 times.
All trademarks and copyrighted information contained herein are the property of their respective owners.
|
