Singapore Pools Reports Record $12.2 Billion Turnover for FY 2023/2024
Singapore Pools has reached an all-time high in betting turnover, reporting $12.2 billion for the financial year ending March 2024. This milestone reflects a 7% increase from the previous year, underscoring the operator’s consistent growth trajectory.
Record-Breaking Financial Performance
Singapore Pools, the only legal operator for lotteries and sports betting in Singapore, reported its highest-ever turnover of $12.2 billion. This marks a 7% rise compared to the previous financial year’s $11.4 billion.
Over the past few years, the company has demonstrated remarkable resilience, achieving a compound annual growth rate (CAGR) of 8.3% since the 2019/2020 financial year.
Revenue Streams Driving Growth
The record-breaking figures were fueled by various betting activities offered by Singapore Pools, including:
- 4-D (four-digit lottery)
- Toto
- Singapore Sweep
- Sports betting
- Horse racing
These activities contributed to the significant jump in betting turnover, reflecting a growing engagement among participants.
Economic Contributions to Singapore
The success of Singapore Pools has broader economic implications, particularly in terms of government revenue. For the last financial year, the operator made substantial contributions, including:
- $2.29 billion in gambling duties and taxes
- $437 million allocated to the Tote Board
The $12.2 billion turnover not only underscores the growing popularity of Singapore Pools’ offerings but also solidifies its position as a key player in the country’s betting and lottery sector.
