Lottery Singapore is a government-operated lottery in Singapore, run by the Tote Board. It includes 4-D, Toto and Singapore Sweep, as well as sports betting on football and motor racing.
The Tote Board released data for the financial year that ended in March 2022, which showed a significant increase in amount spent on betting on lotteries and sports. This equates to a 40 per cent increase from the previous year.
Aside from the rise in bets, there are also new regulations that have come into play in relation to gambling. These include relaxing Covid-19 measures and resumption of global sports tournaments.
Winnings received from betting and lottery in Singapore are not taxable as they are windfalls and not considered as income. However, the winnings can be subject to composition amounts if the promoter has not been registered under the Gambling Act.
The Health Effects of Lottery Wins: An Empirical Study in Singapore
Compared to income-health gradients, a S$10,000 (US$7,245 or EUR6196) increase in unearned income via lottery wins was found to be associated with better self-reported overall health and increased probability of reporting good or excellent health. These effects are found across a variety of ages, genders and liquidity constraints.
Some Singaporeans try to maximise their chances of winning by buying tickets at outlets that have been “blessed by the Fortune God” or have good fengshui. While this may be a myth, there is no denying that these lucky spots have produced plenty of big winners.