New Remote Gambling Bill Restrictions is Cause of Gambling Operators Pulling Out of the Singapore Market, Players are Issued Warning to Withdraw Funds
The signs are all the same as operators begin to shutting down accounts in Singapore, “Due to regulatory developments we will no longer offer our services in Singapore.”
With the passing of the new online gambling regulations bill many online operators are left with no choice but to stop all players from wagering and playing casino games as of Oct. 15 with others to follow suit.
The Remote Gambling Bill that recently passed the senate restricting gambling to local non-profit operators only is causing a stir amongst players and operators that have been catering to Singapore players for quite some time.
Although the bill won’t take effect until next year sometime international gaming operators are already starting their retreat. UK’s premier gambling operator bet365, is already giving notice that accounts will be closed, asking players to start the withdrawal process of all monies left in accounts as soon as possible.
IBC Bet has also informed its customer they have until October 17th before restrictions will be implied. 888 Holdings and SBOBET are two other operators that are doing the same, but is giving more time and not cutting off gaming until the deadline date.
“Due to recent regulatory developments, we will no longer offer our products and services in Singapore.” “We regret to inform you that we are no longer able to provide services to accounts registered in your country,” its notice to users stated.” – IBC Bet
It will be interesting to see how successful the new gambling bill will be. Government officials declared that they will employ every measure for the blocking of payment processes and internet addresses, and will penalize any player that attempts to go around the block with using proxy servers or other private networks.
Operators like Will Hill and PokerStars have decide monitor the effects and will make their decision to inform players of changes that will affect them directly.