A recent report published by a British gambling consultancy firm, H2 Gambling Capital, showed that Singapore has the second highest gambling losses per adult resident in the world. The top was Australia.
It was calculated that Singaporeans lost an average of S$1,189 per adult in 2013. However, in 2010, the numbers were slightly higher at S$1,451 per adult resident.
The losses came from a number of sources with about half coming from losses made at the casino with the rest coming from other gambling outlets such as lotteries, gaming machines, and online gambling.
In terms of the total gambling losses recorded in Singapore from both tourists and locals alike, there were S$9.9 billion worth of losses.
The top country in terms of gambling losses was the US with a total gambling loss of about S$151 billion.
Talking further about the results, H2 founder Simon Holliday said that there are other countries which are likely to have higher losses per adult than Singapore but the report could not verify this due to the low level of regulation on gambling in other countries.
In Singapore, there is very little illegal gambling that occurs and all the legal gambling outlets have strict regulations to follow including the need to record a lot of data on the amount of money that is gambled.
Because of this, a higher proportion of Singapore’s total gambling is on record compared to other countries making Singaporeans look like bigger gamblers than they might actually be.
One of the other factors which affects the data include the odds offered to gamblers at gambling outlets.
As the report compared gambling losses, higher numbers are recorded where the odds are tipped more in the favour of casinos.
Therefore, despite the figures suggesting that Singaporeans are the 2nd biggest gamblers it the world, in reality there is likely to be more gambling occurring in other countries that is just not properly counted.