Lottery Singapore is one of the top-selling lotteries in Singapore. Founded in 1968, the game is available at a variety of outlets around the island. The cheapest tickets cost just $1 and each player has to choose six numbers in order to win. The winning number is drawn randomly and the prize pool is capped at 54% of sales for a draw.
Winnings in Singapore are tax-free. This is because lottery winnings are not considered as income and do not need to be declared in your tax return.
Having a winning ticket is a great way to increase your income and boost your financial stability. However, it is important to be careful when deciding whether or not to accept a prize.
If you are unsure about the validity of your ticket, contact your nearest Singapore Pools outlet to check for a refund. You can also check online for the latest lottery results and past draws.
Singapore’s gamblers are back in the limelight, putting up huge sums of money on their favorite sports and lottery bets. The Tote Board reports that gambling in the last financial year – which ended in March 2022 – set a record of $9.2 billion, a 40% increase over the previous record of $8.1bn.
The easing of COVID-19 restrictions has allowed Singapore’s gamblers to spend more money on their favourite games. This has helped boost the country’s economy, according to the Straits Times.
In the past, Singapore police have cracked down on illegal gambling operations. This time, they have arrested 20 people for their involvement in illegal betting operations and confiscated SGD118,000 (US$86,942) in cash.