OpenBet lands major Singapore supply deal

OpenBet looks set to enter the highly-regulated Singaporean market after striking a deal with local firm Singapore Pools, providing the operator gains an exemption from the country’s current online gambling ban.

The software supplier is believed to have agreed to provide Singapore Pools with an online sportsbook tailored specifically to the local market, which was last year estimated to be worth approximately $500m (£240m).

Online gambling in Singapore is currently prohibited as part of the country’s updated Remote Gambling Act, which came in force on 2 February and saw a swathe of operators withdraw from the market.

However, the Act included a carve-out for firms that were willing to operate in the country on a not-for-profit basis and incorporate robust player protection measures and news of the deal came soon after Singapore Pools was revealed to be one of two local firms to have applied for a government exemption.

Singapore’s Ministry of Home Affairs yesterday confirmed that both Singapore Pools and Singapore Turf Club had applied for an exemption ahead of the 1 August deadline. Applications are expected to take between 9-12 months and will mean operators could be live in time for Euro 2016.

The deal, which was first reported by local publication The Strait Times, sees Singapore Pools become OpenBet’s second client in three months after the supplier signed-up to power the online platform for televised betting service Win Cash Live, which went live in May.

Openbet declined to comment when approached by eGaming Review.