Eyes On Singapore As Possible Online Gambling Capital

Most analysts are predicting that online gambling is set to explode in the Asian jurisdiction. A recent report by PricewaterhouseCoopers on the potential in the global gaming industry jurisdictions were not made that clear. Singapore is mentioned as a possible candidate for the center of the Asian online gambling industry, with the news that Singapore could out pace even Las Vegas as a casino goldmine.

Singapore is consistently ranked as one of the least corrupt countries in the world, along with New Zealand and the Scandinavian countries such as Denmark so where better to have regulated and licensed online gambling. In a few short years Asian gaming revenue will climb to $79.3billion that includes online gaming. Should Singapore make a quick decision on the internet betting idea the country could be doing even better than it already is.

According to news sources Singapore attracts a lot of foreign direct investment mainly because of its location, corruption-free environment, skilled work force, low tax rates and advanced infrastructure. There are more than 7,000 multinational corporations from the United States, Japan, and Europe in Singapore. There are also 1,500 companies from China and another 1,500 from India based in Singapore. Foreign firms are found in almost all sectors of the economy. Singapore is also the second-largest foreign investor in India.

This country has a lot going for it, even the World Bank has praised Singapore as the easiest place in the world to do business. There is some opposition from various analysts who are saying the “social consequence” of allowing online gambling is a big issue because a lot of people aren’t aware the complications of online gambling and that there may be issues at work regarding productivity and the inappropriate use of computers while on the job.
Singapore is young demographically and has a large mobile phone penetration rate that is extremely high at 1,400 mobile phone subscribers per 1000 people. What potential for Singapore it will be interesting to watch how the cards are dealt.