Australia vs. Singapore: A Comparative Analysis of the iGaming Market Landscape
This report provides a comprehensive comparative analysis of the iGaming markets in Australia and Singapore, addressing the question of which country possesses a larger market.
The analysis reveals that Australia’s legal online gambling market is significantly larger in terms of reported revenue and overall activity compared to Singapore’s highly restricted legal online gambling market.
This fundamental difference is driven by their divergent regulatory approaches: Australia permits a wider array of online wagering activities through multiple licensed operators, while Singapore maintains a near-monopoly for online gambling through Singapore Pools, primarily for lotteries and sports betting, with online casinos being largely prohibited.
Both nations, however, contend with substantial illegal online gambling markets that cater to unmet demand for prohibited activities, complicating precise market sizing and posing significant challenges for consumer protection and regulatory enforcement.
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iGaming markets in Australia and Singapore
This report aims to provide a comprehensive comparative analysis of the iGaming markets in Australia and Singapore. The primary objective is to determine which country possesses a larger iGaming market based on available quantitative data and to dissect the underlying factors that contribute to their respective market sizes.
This includes a detailed examination of their distinct regulatory frameworks, an analysis of key market segments, an exploration of prevailing growth drivers and trends, and an assessment of the influence of illegal market activities. The scope encompasses all forms of online gambling, distinguishing between legal and estimated illegal segments to provide a holistic view.
For the purpose of this report, “iGaming” refers to all forms of gambling conducted online, including but not limited to sports betting, horse racing, casino games (such as slots, table games, and poker), lotteries, and bingo, accessible via digital platforms such as websites and mobile applications. This definition is crucial for consistent comparison across different regulatory environments.
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Regulatory Frameworks and Legal Landscape
The regulatory environments governing iGaming in Australia and Singapore represent fundamentally different philosophies, directly shaping their respective market structures and sizes.
Australia’s iGaming Regulatory Environment
Australia’s gambling laws are characterized by their complexity, operating without a single overarching statute or authority. Instead, regulation is multi-layered, occurring at Federal, State, and Territory levels. Each of Australia’s eight mainland States and Territories separately regulates gambling activities within their respective jurisdictions, complemented by a series of Federal statutes covering certain aspects of gambling activity nationwide.
The primary federal legislation governing online gambling is the Interactive Gambling Act 2001 (IGA). The IGA explicitly prohibits certain activities from being offered to Australian residents, including online casinos, online slot machines, online poker, and online wagering services that accept ‘in-play’ betting on live sports events.
The Act also bans online instant lotteries and the provision of credit by interactive wagering service providers. Despite these prohibitions, online wagering services, particularly pre-match sports betting and horse racing, are legally permitted if offered by operators holding a valid license issued by an Australian State or Territory. Lotteries and Keno are also generally offered online.
Key regulatory bodies play distinct roles in this framework. The Australian Communications and Media Authority (ACMA) is the federal body responsible for monitoring compliance with and enforcing interactive gambling laws. Its powers include instigating civil proceedings, notifying border protection agencies of illegal offshore operators (who may be placed on a ‘movement alert list’), and liaising with foreign regulators.
Following 2017 amendments, ACMA gained extended consumer protection responsibilities, including the ability to require Internet Service Providers to block illegal sites. The Northern Territory Racing Commission (NTRC) holds a significant role as many of Australia’s largest online betting companies are based in the Northern Territory, leveraging its favorable regulatory environment.
A license from the NT allows these companies to operate nationally under federal law. Beyond federal oversight, individual states and territories, such as Liquor & Gaming NSW, maintain their own regulatory regimes for enforcement and compliance within their jurisdictions.
The IGA’s primary objective is to reduce harm to problem gamblers. However, evidence suggests its contribution to this objective is minor, and it may even exacerbate harm by driving Australians to unregulated offshore services. Estimates indicate that around 2,200 online gambling providers may be contravening the IGA, with Australians losing approximately $1 billion per annum to these unlicensed operators. While 2017 reforms led over 220 online gambling services to withdraw and reduced money lost to offshore services , the challenge of illegal offshore gambling persists.
The explicit prohibition of online casinos, poker, and in-play sports betting in Australia, as outlined by the IGA, presents a curious situation when contrasted with reported market figures. Data indicates a significant estimated market size for “online casinos” in Australia, reaching approximately AUD $4.5 billion.
Furthermore, a substantial percentage of interactive gamblers, 47.1% in 2019, reported using illegal offshore sites for activities such as Electronic Gaming Machines (EGMs), casino games, and poker. This creates a direct contradiction: how can a prohibited activity generate such a market size? The logical conclusion is that the prohibition does not eliminate demand but rather pushes it into the unregulated, illegal, or offshore market.
This means the IGA, while well-intentioned for harm reduction, may inadvertently expose consumers to platforms without Australian consumer protections, as a report highlighted that the IGA “may in fact be exacerbating the risk of harm”.
This situation underscores a critical challenge for regulators globally: overly restrictive legal frameworks, while aiming to protect, can create a demand vacuum that is then filled by unregulated operators. This not only results in lost tax revenue but, more importantly, exposes consumers to greater risks due to the absence of responsible gambling measures and consumer protections inherent in licensed environments.
A more pragmatic approach might involve regulated offerings of currently prohibited activities, coupled with robust consumer safeguards, to bring these activities into a controlled environment.
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Singapore’s iGaming Regulatory Environment
Gambling in Singapore is highly regulated, with a general rule that all gambling, whether physical or online, is prohibited unless specifically licensed or exempted. The Gambling Regulatory Authority of Singapore (GRA), reconstituted from the Casino Regulatory Authority (CRA) on August 1, 2022, serves as the sole regulator for all forms of gambling activities in the country. The GRA is also responsible for ensuring casinos remain free from criminal influence.
Key legislation includes the Gambling Control Act 2022 (GCA), which consolidates unlawful gambling offenses and regulates authorized gambling services (excluding casinos). The Casino Control Act 2006 (CCA) governs the regulation of casinos , and the Gambling Regulatory Authority of Singapore Act 2022 (GRASA) established the GRA itself. The Remote Gambling Act 2014 (RGA) specifically addresses remote gambling, implementing comprehensive blocking measures (website blocking, payment blocking, advertising bans) and a tightly controlled exemption regime.
Singapore Pools is the only operator legally allowed to run lotteries, sports betting, and horse racing online in Singapore. Online casino gaming, slot machines, and poker are generally prohibited, and the class license for remote games of chance explicitly excludes prohibited games like Mahjong, 4D, and Toto.
The RGA does not impose a blanket ban on remote gambling but allows for discretionary exemptions based on “public interest.” Factors considered for such exemptions include whether the operator is Singapore-based, not-for-profit, and has a consistent track record of legal and regulatory compliance. Singapore Pools, being a not-for-profit entity whose profits are distributed by the Tote Board for charitable purposes, aligns with these criteria.
Singapore enforces its gambling laws rigorously. Conducting any betting operation, gaming, or lottery without proper licensing is an offense, punishable by substantial fines (up to SGD 500,000 for first-time offenders and SGD 700,000 for repeat offenders) and imprisonment for operators. Individuals participating in unlawful remote gambling activities can face fines up to SGD 10,000 or six months imprisonment.
As of January 1, 2025, the Singapore Police Force (SPF) has taken over the functions of blocking access to unlawful remote gambling services, their advertising, and associated payment transactions.
Singapore’s establishment of Singapore Pools as the sole legal online gambling operator is a deliberate policy choice aimed at “diverting demand away from illegal gambling operators and channelling funds towards causes that uplift the lives of Singaporeans”.
This centralized control allows for significant revenue generation for the government, with S$2.29 billion paid in duties and taxes in FY2024 , and strict oversight. However, despite this stringent control and the severe penalties for illegal gambling, illegal online gambling is still reported to be on the rise , and Singapore has been implicated in large-scale money laundering operations tied to illegal online gambling from neighboring countries.
This suggests that while Singapore’s monopoly model effectively channels legal gambling revenue for public benefit and offers tight control over authorized activities, it simultaneously creates an unmet demand for prohibited gambling types, such as online casinos. This persistent demand fuels a growing illegal market, demonstrating the inherent limitations of a purely restrictive approach in a digitally interconnected world.
This situation indicates that even the most stringent regulatory frameworks may struggle to fully suppress consumer demand for diverse gambling products. The existence of a robust illegal market, despite severe penalties, shows that policy effectiveness is not solely determined by strictness but also by how well it addresses underlying market forces and consumer preferences. For Singapore, this implies a continuous battle against illicit activities that cater to the demand for games not offered by the legal monopoly.
Comparative Regulatory Impact
The regulatory philosophies of Australia and Singapore represent a stark contrast. Australia’s framework, while complex and multi-jurisdictional, permits a broader range of online wagering services (primarily sports betting and racing) through multiple licensed operators, even as it prohibits online casinos and in-play betting. Singapore, conversely, adopts a far more restrictive and centralized stance, granting a government-backed monopoly (Singapore Pools) as the sole legal provider of online lotteries, sports betting, and horse racing, with a general prohibition on other online gambling forms.
Australia’s approach allows for a more competitive and diverse legal online betting landscape with multiple licensed operators, such as Sportsbet, Bet365, and Ladbrokes, which operate nationally from Northern Territory licenses. This contributes to a larger overall legal iGaming market. Singapore’s monopoly, while ensuring revenue capture for public good and tight control, inherently limits the variety and scale of legal online gambling activities available to its citizens, effectively creating a niche legal market.
Both countries prioritize harm minimization, but their methods differ significantly. Australia attempts to regulate a broader market while actively combating offshore sites and implementing consumer protection tools like self-exclusion. Singapore aims to prevent harm by severely restricting legal options and aggressively enforcing against illegal ones, using its monopoly as a diversionary tactic.
The direct consequence of these divergent regulatory philosophies is the fundamental difference in the composition and size of the legal iGaming markets. Australia’s allowance of competitive online sports betting directly leads to sports betting being the dominant and largest segment in its legal online market.
In Singapore, the legal market is almost entirely defined by the offerings of Singapore Pools (lotteries, sports betting, horse racing) due to its monopoly and the prohibition of other online casino games. This illustrates that the legal market size is not just a reflection of consumer demand but, more critically, a direct outcome of what activities are legally sanctioned and who is permitted to offer them. The legal permissibility and scope of iGaming verticals are primary determinants of a country’s legal online gambling market size and segmentation.
Australia’s broader allowance of online wagering, despite specific prohibitions, results in a larger legal market compared to Singapore’s highly constrained and monopolized legal offerings. This comparison highlights that market size figures, especially for legal markets, are heavily influenced by regulatory choice.
A “smaller” legal market, like Singapore’s, might not necessarily indicate lower consumer propensity to gamble but rather a deliberate policy decision to restrict legal options, potentially diverting demand to unregulated channels. Conversely, a larger legal market, like Australia’s, reflects a regulatory willingness to license a broader range of popular online gambling activities.
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Key Regulatory Differences: Australia vs. Singapore
| Feature | Australia | Singapore |
|---|---|---|
| Regulatory Authority | Australian Communications and Media Authority (ACMA), State/Territory Regulators | Gambling Regulatory Authority (GRA) |
| Primary Legislation | Interactive Gambling Act 2001 (IGA), State/Territory Gambling Acts | Gambling Control Act 2022 (GCA), Remote Gambling Act 2014 (RGA), Casino Control Act 2006 (CCA) |
| Legally Permitted Online Activities | Online wagering (sports, racing), Lotteries, Keno | Lotteries, Sports Betting, Horse Racing (via Singapore Pools only) |
| Prohibited Online Activities | Online casinos, online poker, in-play sports betting, online instant lotteries, credit provision | All gambling unless licensed/exempted; effectively online casinos/poker/bingo |
| Number of Licensed Online Operators | Multiple | One (Singapore Pools) |
| Enforcement Mechanisms | ISP blocking, civil proceedings, border alerts for illegal operators | Website/payment blocking, advertising bans, severe penalties for illegal operators/participants |
iGaming Market Size and Revenue Analysis
A direct comparison of market sizes reveals significant differences between Australia and Singapore, primarily influenced by their distinct regulatory approaches and market structures.
Australia’s iGaming Market Performance
Australians are noted globally as prolific gamblers, with total bets placed reaching $244.3 billion in 2022-23, resulting in losses of $31.5 billion. This positions them as leading the world in per capita gambling losses. The broader Australian gambling market was valued at over $25 billion in 2019.
The online gambling market in Australia is estimated to be valued at AUD 9073.11 million (approximately USD 5.9 billion, using an exchange rate of 1 AUD = 0.65 USD) in 2024. It is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.89% from 2025 to 2034, reaching almost AUD 19389.57 million (approximately USD 12.6 billion) by 2034. Another source corroborates a similar 2024 valuation of USD 5.2 billion for the online gambling market, projecting growth to USD 8.9 billion by 2033 at a CAGR of 5.88%. While a lower estimate of USD 1,657.2 million for 2024 is also cited , the higher figures are more consistent across multiple comprehensive reports.
Australia Online Gambling Market Revenue by Segment (2024 & Projections)
| Segment | 2024 Revenue (AUD) | 2024 Revenue (Approx. USD) | Projections |
|---|---|---|---|
| Sports Betting (Legal) | AUD 7.39 billion | USD 4.8 billion | Fastest growing segment |
| Online Casinos (Estimated Prohibited/Offshore) | AUD 4.5 billion (estimated) | USD 2.9 billion | N/A |
| Total Online Gambling Market (Legal) | AUD 9073.11 million | USD 5.9 billion | 7.89% CAGR (2025-2034) to AUD 19389.57 million by 2034 |
Note: USD conversions are approximate, using an exchange rate of 1 AUD = 0.65 USD.
Within Australia’s iGaming landscape, sports betting is the most dominant segment, significantly driven by the nation’s robust sporting culture. Online sports betting turnover alone surpassed $50 billion annually in 2021-22. Sports betting was the largest revenue-generating type in 2024 and is projected to be the fastest-growing segment. The horse and sports betting market size was $7.39 billion in 2024.
Despite being explicitly prohibited under the Interactive Gambling Act 2001 , the segment of online casinos is estimated to have reached a market size of an impressive AUD $4.5 billion (approximately USD 2.9 billion). This figure represents activity on illegal or offshore platforms accessed by Australians.
This AUD 4.5 billion attributed to online casinos in Australia is not part of the legal, regulated iGaming market but rather represents the substantial expenditure by Australians on illicit or offshore online casino platforms. This indicates a significant “ghost” market that operates outside the legal framework. This phenomenon complicates accurate market sizing and poses a considerable challenge to harm minimization efforts. It suggests that a significant portion of Australian iGaming activity remains untaxed and unregulated, exposing consumers to greater risks. For policymakers, it raises the question of whether to continue strict prohibitions that fuel black markets or explore regulated alternatives with robust consumer protections.
Lotteries and scratch cards remain highly popular, with 64% engagement among Australian adults. Lotteries were the most common gambling activity among regular gamblers in 2015, with 76% participation. Poker machines (pokies), while predominantly found in retail venues, saw 33% of Australian adults participating in the past 12 months. In the financial year 2020-2021, Australians placed bets worth almost AUD150 billion through electronic gaming machines, resulting in total player losses of AUD12 billion.
The overall gambling market in Australia is expected to reach 70.6% user penetration in 2025, with the number of users projected to grow to 19.4 million by 2029. The average revenue per user (ARPU) is estimated at US809.94 in 2025, indicating high spending levels.
In 2022, 11% of Australians had gambled online in the previous 6 months, an increase from 8% in 2020.
Australians cumulatively placed online gambling bets worth AUD198 billion in FY2020-2021, resulting in a total loss of AUD$24 billion, underscoring their global lead in online gambling expenditure per capita.
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Singapore’s iGaming Market Performance
The Singapore Online Gambling market was valued at $1,070.0 Million (USD 1.07 billion) in 2022. It is projected to reach $2,894.5 Million (USD 2.89 billion) by 2032, growing at a CAGR of 10.51% from 2023 to 2032.
Singapore Pools, the country’s sole legal operator for lotteries and sports betting, reported a record S12.2 billion (approximately USD 9.1 billion, using an exchange rate of 1 SGD = 0.75 USD) in bets placed (turnover) for the financial year ending March 2024.
This marked a 7% increase from the previous year’s S11.4 billion. Of this S12.2 billion turnover, S11.87 billion (97%) was returned to Singapore and punters in the form of prize payouts (S9.14 billion), gambling duties and taxes (S2.29 billion), and contributions to the Tote Board (S437 million).
The *total gross win* (equivalent to Gross Gaming Revenue or GGR) from Singapore Pools’ betting and lottery activities surpassed S3 billion (specifically S3.07 billion, approximately USD 2.25 billion) in FY2024.
Over the past five years, the combined gross gaming revenue of Singapore Pools and Singapore Turf Club averaged S2.39 billion annually.
It is critical to differentiate between “turnover” (total bets placed) and “revenue” or “Gross Gaming Revenue (GGR)” (money retained by the operator). While Singapore Pools’ turnover is substantial, its GGR is considerably lower, reflecting the nature of lottery and fixed-odds betting where a large portion of wagers is returned as prizes. The Singapore online gambling market size (USD 1.07B in 2022, and latest GGR of approx. USD 2.25B) is the comparable figure.
This distinction is vital for accurate cross-country market comparisons. Without clarifying the metric, a market dominated by high-turnover, low-margin activities (like lotteries) could appear disproportionately large when compared to a market measured by GGR, which is a more direct indicator of economic value generated by operators. Analysts must ensure consistency in financial metrics to avoid misinterpretation of market scale.
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Singapore Pools’ Turnover and Revenue Breakdown (FY2023/2024)
| Metric | FY2023/2024 Values (S$) | Approx. USD Equivalent (1 SGD = 0.75 USD) |
|---|---|---|
| Total Turnover | S$12.2 billion | USD 9.1 billion |
| Prize Payouts | S$9.14 billion | USD 6.86 billion |
| Gambling Duties & Taxes | S$2.29 billion | USD 1.72 billion |
| Contribution to Tote Board | S$437 million | USD 327.75 million |
| Operating Expenses | S$332 million | USD 249 million |
| Gross Win (GGR) | S$3.07 billion | USD 2.25 billion |
Note: USD conversions are approximate, using an exchange rate of 1 SGD = 0.75 USD.
The record turnover was primarily fueled by 4-D (four-digit lottery), Toto, Singapore Sweep, Sports betting, and Horse racing. The Sports Betting segment was the highest contributor to the Singapore Online Gambling market, valued at $534.7 Million in 2022, and is anticipated to reach $1,388.4 Million by 2032.
Direct Market Size Comparison
Based on reported legal market revenue/Gross Gaming Revenue (GGR) figures, Australia’s legal online gambling market is definitively larger than Singapore’s.
Australia’s 2024 legal online gambling market revenue was estimated at approximately AUD 9073.11 million (approx. USD 5.9 billion). This market is predominantly driven by online sports betting and racing, which are legally permitted and highly popular activities. In contrast, Singapore’s legal online gambling market, primarily through Singapore Pools, generated a gross win (GGR) of over S$3 billion (approx. USD 2.25 billion) for the financial year ending March 2024. While Singapore’s market is projected to grow to USD 2.89 billion by 2032 , Australia’s current market size remains considerably larger.
It is crucial to reiterate the distinction between “turnover” and “revenue/GGR” for accurate comparison. Singapore Pools’ impressive turnover of S$12.2 billion represents total bets placed, not the revenue retained by the operator, which is significantly lower. Furthermore, the reported AUD $4.5 billion for “online casinos” in Australia is explicitly for a prohibited activity, indicating that this revenue flows to illegal or offshore sites, which is a significant factor in the overall iGaming activity by Australians but not part of the legal market size.
The larger legal market size in Australia (approx. USD 5.9 billion) compared to Singapore’s (approx. USD 2.25 billion) is not simply a matter of population or gambling propensity. Instead, it is a direct consequence of Australia’s regulatory framework permitting a broader range of online wagering activities through multiple licensed operators. Singapore’s market, by contrast, is intentionally constrained by its state-controlled monopoly and strict prohibitions on popular online casino games.
This means Australia’s legal market is designed to capture a larger share of the overall iGaming demand, even with its own prohibitions, while Singapore’s legal market is deliberately narrow in scope. This comparison highlights that market size figures must always be contextualized within the specific legal and regulatory landscape of each jurisdiction. A seemingly smaller legal market might simply be a more tightly controlled one, potentially pushing a significant portion of consumer demand to unregulated channels, thereby distorting the true picture of total iGaming activity by a nation’s residents.
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Comparative Overview of Australia and Singapore iGaming Markets (2022-2024)
| Metric | Australia | Singapore |
|---|---|---|
| Legal Online Gambling Market Revenue (Current) | AUD 9073.11 million (2024) / approx. USD 5.9 billion | USD 1.07 billion (2022) |
| Legal Online Gambling Market Revenue Projection (Future) | AUD 19389.57 million (2034) / approx. USD 12.6 billion | USD 2.89 billion (2032) |
| Legal Online Gambling Market CAGR (Projection) | 7.89% (2025-2034) | 10.51% (2023-2032) |
| Latest Reported Turnover (Total Bets Placed) | AUD 50 billion (online betting turnover 2021-22) | S$12.2 billion (FY2023/2024) |
| Latest Reported Gross Gaming Revenue (GGR/Gross Win) | N/A (Overall online market GGR not explicitly stated as separate from total revenue, but sports betting is largest segment) | S$3.07 billion (FY2023/2024 Gross Win) / approx. USD 2.25 billion |
| Primary Legal Online Activities | Sports Betting, Horse Racing, Lotteries, Keno | Lotteries (4D, Toto, Sweep), Sports Betting, Horse Racing (via Singapore Pools only) |
Note: USD conversions are approximate, using an exchange rate of 1 AUD = 0.65 USD and 1 SGD = 0.75 USD.
Market Dynamics, Drivers, and Trends
The iGaming markets in both Australia and Singapore are influenced by a combination of global growth drivers and country-specific trends in consumer behavior and regulatory responses.
Common Growth Drivers
A pervasive factor driving online gambling market growth in both Australia and Singapore is the rising smartphone penetration and the widespread adoption of 5G technology. Singapore, for instance, exhibits extremely high smartphone ownership (95.41%) and excellent 4G/5G network infrastructure. This extensive mobile access is a primary catalyst, facilitating a rapid migration to digital gambling channels by enabling users to gamble anywhere, anytime.
Continuous technological innovation further fuels this growth. This encompasses the integration of Artificial Intelligence (AI) for personalized user experiences and customer service, Augmented Reality (AR) and Virtual Reality (VR) for more immersive online casino games, and the potential of blockchain technology for transparent transactions and enhanced security protocols.
The evolution of payment methods, including digital wallets, cryptocurrency integration, and instant settlement systems, significantly reduces transaction processing times and enhances accessibility for a wider user base. In Singapore, QR code-based payments have gained traction for speedy and secure transactions.
On a global scale, governments are increasingly embracing regulated iGaming, viewing it as a source of new tax revenues and a manageable alternative to gray-market activities, which generally drives market growth. While the pace varies, this trend influences policy considerations in both countries. Furthermore, increased disposable income in the broader Asia-Pacific region contributes to higher spending on leisure activities, including online gambling.
The research consistently identifies technological advancements (smartphones, 5G, AI, AR/VR, digital payments) as fundamental drivers of online gambling market growth in both Australia and Singapore. However, these same technologies, particularly the internet’s borderless nature and sophisticated payment systems, are also leveraged by illegal offshore operators, making it easier for them to reach consumers in regulated markets.
This creates a dual effect: technology drives legal market expansion but simultaneously complicates regulatory enforcement and facilitates the growth of illicit operations. While technology is a primary engine for the expansion and sophistication of legitimate iGaming markets, it simultaneously presents a significant challenge to regulators. It enables the proliferation and accessibility of illegal online gambling services, making it difficult for authorities to fully control the gambling landscape and protect consumers.
This suggests that regulatory strategies must be dynamic and technologically informed. Simply prohibiting certain activities is insufficient; regulators must continuously adapt their tools (e.g., blocking measures, payment restrictions, international cooperation) and potentially reconsider their scope of legal offerings to channel demand into safer, regulated environments. The arms race between regulators and illegal operators will continue to be shaped by technological innovation.
Country-Specific Trends and Consumer Behavior
In Australia, consumer behavior is marked by high per-capita spending, indicating a strong cultural propensity for gambling. There is a pronounced shift towards mobile betting, with over 59% of Australians gaming on mobile phones, and mobile gaming accounting for 57% of overall video game revenue in Australia.
In New South Wales, mobile betting dominates, accounting for approximately 80% of all online bets. Online sports betting remains the top player in the Australian iGaming space, deeply embedded in the nation’s robust sporting culture, with significant turnover figures. The Australian market is also seeing an intensifying focus on responsible gambling measures.
New laws mandate features like session limits, self-exclusion, and responsible gambling buttons. BetStop, the National Self-Exclusion Register, was introduced to allow individuals to self-exclude from all Australian licensed online and phone wagering services in a single step. Australia’s legal climate is under continuous revision, placing pressure on operators to adapt quickly to regulatory shifts, particularly concerning harm minimization and advertising laws.
In Singapore, the mobile gaming revolution is evident, with extremely high smartphone ownership and excellent 4G/5G adoption rates, creating a fertile ground for the growth of mobile gambling. Mobile devices offer enhanced comfort, improved interfaces, simplified controls, and enable quicker play sessions. A core tenet of Singapore’s gambling policy is to use Singapore Pools to divert demand away from illegal gambling operators, channeling funds towards community-based projects and public good.
Anticipated trends include the increased use of AI for personalized gaming experiences and the integration of AR/VR elements in casino games, although these would apply primarily to the legal offerings or potentially influence the illegal market. Strict identity verification and responsible gambling mechanisms are foundational requirements for legal online gambling services in Singapore.
Both Australia and Singapore explicitly prioritize harm minimization in their iGaming policies. However, their approaches are fundamentally different. Australia attempts to manage harm within a broader, albeit regulated, online wagering market by implementing consumer protection tools and self-exclusion registers. Singapore, conversely, adopts a highly restrictive, near-prohibitive approach for most online gambling types, relying on a state-controlled monopoly (Singapore Pools) to tightly manage the available legal options, thereby attempting to control demand and channel funds for public good.
This indicates a difference in philosophy: Australia seeks to regulate a larger market responsibly, while Singapore seeks to control the market through extreme limitation. The effectiveness of these divergent approaches in truly minimizing harm, especially given the persistent illegal markets in both countries, remains a continuous point of evaluation for policymakers and industry stakeholders. Australia’s approach acknowledges broader demand but seeks to regulate it, while Singapore’s approach aims to suppress demand for most forms by limiting legal supply.
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The Influence of Illegal iGaming Markets
The presence and scale of illegal iGaming markets significantly impact the overall gambling landscape in both Australia and Singapore, often undermining regulatory objectives.
The Illegal Market in Australia
Despite prohibitions, the number of Australians accessing prohibited offshore online gambling services is significant and growing. Estimates suggest Australians lose approximately $1 billion per annum to online gambling service providers not licensed in Australia. This figure highlights a substantial leakage from the regulated economy.
The Interactive Gambling Act 2001 (IGA), while intended to reduce harm by prohibiting certain activities, may inadvertently exacerbate harm by driving users to unregulated offshore sites that lack the consumer protections required of Australian licensed providers.
A non-representative National Online Survey in 2019 found that 47.1% of interactive gamblers had used an illegal offshore gambling site. Common activities on these sites included instant scratch tickets, Electronic Gaming Machines (EGMs), casino games, and poker. Notably, problem gambling rates were significantly higher among offshore bettors (38.5%) compared to non-offshore bettors (11.4%) in this sample.
The Australian Communications and Media Authority (ACMA) possesses powers to block illegal offshore gambling websites. Since 2017 reforms, over 220 online gambling services have reportedly withdrawn from the Australian market, leading to a reduction in money lost to offshore services. However, the continuous emergence of new illegal operators presents an ongoing challenge.
Australia’s legal framework prohibits certain popular online gambling activities like casinos and in-play betting. However, the existence of a substantial estimated market for online casinos (AUD 4.5 billion) and high reported usage of offshore sites for prohibited games demonstrates a clear case of “regulatory arbitrage.” Consumers are seeking out services that are illegal domestically but available internationally.
This indicates that legal prohibitions alone are insufficient to curb demand, leading to a persistent and significant illegal market. While ACMA’s blocking powers have had some success , the global nature of the internet makes complete suppression difficult. This situation suggests that a purely prohibitive approach to popular gambling forms may be less effective than a regulated one in terms of consumer protection and revenue generation.
It opens a policy debate about whether to liberalize certain currently banned online activities, bringing them into a regulated environment with robust safeguards, to better manage risks and capture economic benefits.
The Illegal Market in Singapore
Despite Singapore’s extremely strict gambling laws, illegal online gambling is reported to be on the rise, increasing from 0.7% in 2020 to 1% in 2023, even as the overall gambling rate among Singaporeans declines. This indicates that even stringent regulations cannot completely eliminate illicit activity. Singapore maintains some of the strictest gambling laws globally , with severe penalties for conducting or participating in unlawful gambling, including substantial fines and imprisonment for both operators and individuals.
Singapore has also been identified as a hub for money laundering operations linked to illegal online gambling from neighboring countries, with billions in assets seized from criminal groups profiting from these activities. This underscores the transnational nature and severe financial crime risks associated with the illegal iGaming market. Authorities have actively cracked down on illegal online gambling, blocking $37 million of transactions as of December 2023. The Singapore Police Force (SPF) has taken over key enforcement functions, including blocking access to unlawful remote gambling services, their advertising, and associated payment transactions.
Even with highly stringent laws and aggressive enforcement, Singapore faces a persistent and growing challenge from illegal online gambling. This indicates that consumer demand for a wider range of gambling products, especially online casino games which are prohibited, cannot be entirely suppressed by legal restrictions, leading to a resilient black market. This situation raises fundamental questions about the optimal balance between prohibition and controlled liberalization. While strictness may deter some, it appears insufficient to eliminate the illegal market, which continues to pose risks to consumers and facilitate financial crime. For Singapore, this implies a continuous need to adapt enforcement strategies and potentially re-evaluate whether a limited expansion of legal offerings could better manage this persistent demand.
Holistic Market View
The reported legal market sizes for both Australia and Singapore, while significant, do not fully capture the entire iGaming activity by their citizens. A substantial portion of gambling expenditure, particularly for prohibited or heavily restricted activities like online casinos, is diverted to illegal or offshore platforms due to legal restrictions or unmet demand.
Both countries actively acknowledge the social costs and individual harm caused by problem gambling, and the increased risks associated with unregulated illegal sites. This drives ongoing efforts to enhance consumer protection measures and combat illicit operations. Both governments are continuously reviewing and amending their gambling laws to better regulate the industry, combat illegal activities, and adapt to evolving technological landscapes and consumer behaviors.
Conclusion: A Definitive Answer
When comparing the legal, regulated iGaming markets based on available revenue and Gross Gaming Revenue (GGR) figures, Australia has a significantly larger market than Singapore.
Australia’s legal online gambling market revenue was estimated at approximately AUD 9073.11 million (approx. USD 5.9 billion) in 2024. This market is predominantly driven by online sports betting and racing, which are legally permitted and highly popular activities. In contrast, Singapore’s legal online gambling market, which operates under a strict government-backed monopoly by Singapore Pools, generated a gross win (GGR) of over S3 billion (approx. USD 2.25 billion) for the financial year ending March 2024.
While Singapore Pools reported a substantial turnover of S12.2 billion , this represents total bets placed and not the revenue retained by the operator, which is the appropriate metric for market size comparison.
The primary factor contributing to Australia’s larger legal market is its broader regulatory scope, which, despite prohibitions on online casinos and in-play betting, permits a more diverse and competitive online wagering sector through multiple licensed operators. Singapore’s market, by design, is intentionally constrained by its state-controlled monopoly and strict prohibitions on most online casino games.
However, it is crucial to acknowledge the pervasive influence of illegal iGaming markets in both countries. Australia faces a substantial “ghost” market for prohibited activities like online casinos, with an estimated AUD 4.5 billion spent by Australians on offshore platforms. Similarly, despite Singapore’s stringent laws and aggressive enforcement, illegal online gambling is reported to be on the rise , and the country is implicated in large-scale money laundering operations linked to regional illicit iGaming. These illegal markets highlight that consumer demand for a wider range of gambling products cannot be entirely suppressed by legal restrictions, posing ongoing challenges for consumer protection and revenue capture.
In summary, while both nations grapple with the complexities of iGaming regulation and the persistent challenge of illicit operations, Australia’s more expansive legal framework results in a considerably larger reported online gambling market.
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