Online gambling regulation in Singapore on the quest

The Asia Pacific Region is to be the fastest growing market in terms of online gambling, with the Global Gaming Outlook being released by PricewaterhouseCoopers.

There are expected gaming revenues from $34.3 billion to $79.3 billion by 2015.

However, online gambling in still illegal in Singapore. As per statement of analyst Jonathan Galaviz, the government should try to grab this growing opportunity instead of rejecting it, because there's much potential in the online gambling market.

According to the report published by PricewaterhouseCoopers, the population is accessing illegal gambling websites, therefore authorities should legalize online gambling and tax it, instead of allowing illegal websites to continue with their activities.

There are still contrary opinions on online gambling. Felix Ling and Derek da Cuhna, both with enough experience in online gambling, think that legalizing online gambling in Singapore will have a devastating impact on society.

Even so, the arguments against online gambling legalization are not as strong as they may look, as in 2010 two brick-and-mortar casino have been opened, generating revenues of over $4.4 billions.