Ready to start betting Singapore horse racing? If this is your first time you will notice a few differences in the betting menu. Horse racing bets in Singapore are a little bit different from those in other areas of the world. By different we mean there are fewer offerings. The straight horse betting wager is the mainstay of horse racing in Singapore.
Here is a brief guide that will help you understand the bets that can be made. We will also look at where you can legally place those bets, and the status of online Singapore horse betting.
Types of Horse Racing Bets in Singapore
Singapore Pools is the official entity tasked with providing horse racing betting in the country. Singapore Pools also handles lottery and other gambling games.
According to the company’s official website, there are just nine horse racing bets offered at local tracks. These are:
- Roll Win
- Place Forecast
Looking at each of these bets in closer detail reveals that some of them are exactly like their US counterparts. Others are different in terms of the odds offered and other factors.
A Win bet requires the bettor to select one horse to finish first. The Place bet is a wager for a horse to finish first, second, or third depending on the size of the field. There is no Show bet in Singapore. The Roll Win is comparable to the American Pick 3 or Pick 4.
Horse Betting Minimums in Singapore
At many online horse betting sites you will find that making bets for as little as $1 is possible. In Singapore, this is not the case. There is a generally a $5 minimum unit for most bets. There is also a minimum return that can be received when you make a horse betting wager.
In Singapore the returns on a horse racing bet are referred to as dividends. This will surely appeal to those bettors who regard their horse racing betting as an investment of sorts.
Having a higher minimum bet is a double-edged sword. It can price out many bettors who have limited bankrolls, but it can also help to increase the betting pools for the individuals who are betting large sums on every race.
Where Horse Racing Bets in Singapore Are Made
Even though horse racing has been a part of Singapore since the 1800s, betting was slower to evolve. The country is one of the few which still prohibits online gambling on horses and sports. To make your bet you will likely need to attend live racing in the country where bets are accepted.
Bookmakers still exist, and they still serve a purpose for bettors who cannot bet in a more modern way. There was a day when bookies ruled the racing apron throughout Europe. Their influence has been dented by the arrival of horse betting sites like Bovada. But for bettors who like Singapore horse racing action, a bookie may be the most logical choice.
There are pros and cons when it comes to using a bookie. You can sometimes shop around for the best odds because bookies like to compete with one another. The major downside is that you need to take time to find a reputable bookie and avoid being scammed.
Why Is Horse Betting So Limited in Singapore?
One comment that is often made about the betting menu in the country of Singapore is that the opportunities are fewer. Only 9 bets exist. In the US and Europe this is just a fraction of the bets that are offered on most every horse racing day.
It wasn’t always like that. In the US there were originally only straight wagers to choose from. Bettors did not have such vast options as they do today. In fact, regulators frowned upon many so-called exotic bets because they believed these bets encouraged problem gambling.
Basically, countries that are more conservative when it comes to legalized gambling make an effort to pare down the betting menu. This means that they try to keep it as simple as possible. Some people think this is an absurd idea because it only reduces the potential revenues that could be obtained from offering more exotic wagers.
If you can’t make it to Singapore to bet live racing, why not try one of our recommended online horse betting sites? You can get a nice welcome bonus when you sign up, and there are hundreds of tracks throughout the world where you can make bets each day. Check our Bovada racebook review, Twinspires review, Busr, BetUS, 1stbet, or even our Betamerica review. All great choice if you are in the US. 5Dimes review for folks anywhere.