Thursday, September 01, 2005

Singapore the gambling city

The National Council for Problem Gambling has been setup, reportedly with a budget of S$1 million, to tackle the problems of Singapore gamblers. According to an AFP article, the government rakes in "800 million US dollars a year -- or 2.2 million dollars a day", in duties from regulated horse betting, lotteries and sports betting. So just 3-4 hours of those taxes should cover the council's operating budget. One can only wonder how much that figure balloons up to after the two IRs are setup. Double down, anyone?

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