Top Casinos and Best Banking Options for Singaporean Players

Gambling was briefly legal in Singapore during British rule in 1923. However, the legal period led to increased crime and gambling addiction, resulting in gambling being criminalized again within three years. Even after the country gained independence, gambling was limited to government-run lotteries and horse races.

2005 saw Singapore start planning to launch two integrated resorts with casinos. The country did this to attract tourists, though these casinos were also open to the Singaporean public. However, local players have to pay a hefty fee upon entering the casino, meant to discourage them from playing. Because of the cost, many Singaporean gamblers play in cruising casinos sailing in international waters outside Singapore’s control.

The country formed the Casino Regulatory Authority (CRA) in 2008 to oversee all casino-based activity. Law changes then consolidated several gambling control agencies into the Gambling Regulatory Authority (GRA) in August 2022. The GRA oversees legal gambling and is responsible for restricting remote gambling.

Fortunately, players’ winnings at online casinos in Singapore are not taxable. There’s no mandatory tax mentioned in the Gambling Regulatory Authority of Singapore Act 2022 or the Gambling Control Act 2022.

In fact, The Inland Revenue Authority (IRAS) stated that players don’t need to state their winnings when reporting income. Therefore, there will be no discrimination based on your bet size, deposits or overall win rate.

Singapore has no capital tax, which means that you’re completely free to keep your winnings. However, our team highly advises keeping records of your winnings. High-rollers might be asked to justify their profits, which is why you need an explanation if that happens. Don’t worry, as that’s just for security reasons.

So who pays the taxes then? Well, nobody. Singapore technically never legalized online casinos, even though many sites accept Singaporean players.

This is a legal grey area, mainly because the Legislature nor law enforcement agencies don’t have jurisdiction over offshore brands. Despite the Remote Gambling Act being passed in 2014, it’s rarely enforced. Due to the uncertain status, we’d advise you to be careful and try to stay as anonymous as possible.

By looking at these details, we can confirm the operator is not trying to trick players. Regulations and certifications ensure that casino games are fair and that websites follow all relevant rules. The best online casino Singapore websites proudly display all licenses and certificates on the homepage. Our team always looks for this information when reviewing sites, ensuring we only recommend the best casinos.

Currency conversion is something all players try to avoid. Moving funds from one currency to another incurs fees most of us prefer to avoid. Because of that, our recommendations always prioritize websites that support depositing, playing and withdrawing with SGD. Fortunately, there is no shortage of live casino Singapore websites that allow you to use SGD as your primary currency.

Players can also play with cryptocurrencies like Bitcoin (BTC). Similar to playing in other currencies, you eventually have to deal with currency conversion going back to the Singaporean dollar. Additionally, some websites allow you to deposit and withdraw with crypto, but you cannot play using it.

1. When it comes to famous poker players, Singapore has a surprisingly large number for such a small country. Kenneth Kee Wee Kiang is perhaps the best known and is the leader in Singapore’s all-time money rankings. With over US$ 4.3 million in career winnings, Kiang is also amongst the best performers in all of Southeast Asia. His career-defining performance occurred in 2018, when he won US$ 2.8 million at the Triton Poker Super High Roller Series event in Jeju, South Korea. Kenneth’s last appearance was in 2019 in Budva, Montenegro, after which he announced his retirement.
2. Feng Zhao is also a name to keep your eyes on. He tops the Global Poker Index (GPI) top list for Singapore, with a nice US$ 643,000 to his name. Despite regularly placing in the top 10 for the last couple of years, Zhao’s casual appearances still have him under most people’s radars. 2014 was his best year, in which he earned more than $200,000 from tournament winnings. Asian Poker Tour and Asia Pacific Poker Tour events are his forte.
3. Of course, we can’t forget about Alex Xiang Wei Lee, can we? He’s another famous Singaporean player who’s used to wreaking havoc all over Asia and Oceania. Both fans and poker experts love him because of his intensity and hectic tournament schedule. Always amongst the top 5 in the GPI rankings, Alex has earned a total of US$ 1,162,000 in just over ten years of play, which is a remarkable achievement for almost anyone. In addition to live events, we’ve also seen him at WSOP Online tournaments.