Lottery Singapore – How It Works
The lottery is a form of gambling that involves selecting numbers to win money. It was first invented in Malaysia and has since spread across the world. There are many different types of lotteries, but the most popular are 4D, Toto and Singapore Sweep.
There are also other forms of lottery such as sports betting and horse racing. The winnings from these forms of gambling are not taxed in Singapore. In addition, there is no need to declare the winnings in your income tax return.
How to Play the Lottery in Singapore
To play the lottery, you can either buy tickets from the outlets or online. Buying lottery tickets online is convenient and saves you time and money from standing in queues at the outlets.
Purchasing your lottery number online is safe and secure because the company that you are buying from is fully licensed, regulated and monitored. Moreover, there are no hidden fees and you will be able to track your winnings easily.
If you are new to the lottery, you may want to learn more about the different forms of lotteries before making a purchase. This will help you make a better decision when it comes to which type of lottery to play.
The Tote Board, a statutory body that oversees Singapore Pools and the Singapore Turf Club, said the amount spent on lotteries and sports betting in its latest financial year jumped 40 per cent from the previous year to SGD9.2 billion. This is the largest sum of money the statutory body has reported in the past four years.