To mitigate gambling risks, the Ministry of Home Affairs has imposed a cap on prizes for amusement games.

Singapore has amended its Casino Control Act to allow cashless gambling at its two casinos, although the use of cryptocurrencies remains prohibited.

Sun Xueling, the Minister of State for Home Affairs, stated that the Gambling Regulatory Authority (GRA) has 'no intention' of permitting cryptocurrencies as casino chips due to concerns over money laundering.

The new regulations enable players to place bets using virtual credits from cashless gaming accounts or e-wallets, enhancing the gambling experience.

These amendments aim to strengthen the casino regulatory framework and better protect vulnerable groups from gambling-related harms.

The GRA will now oversee all forms of gambling within casinos, including betting and lotteries, expanding its regulatory reach.

Recent revisions have lowered the threshold for cash deposit checks at casinos to prevent misuse by criminal organizations.

Casino entry levies for Singapore citizens are set at S$150 daily and S$3,000 annually, designed to deter impulsive gambling.

The ban on cryptocurrencies in casinos is intended to reinforce security and ensure financial integrity within the gambling industry.

A January 2024 UN report highlighted the increasing use of cryptocurrencies and online casinos by criminal networks for money laundering.

Despite regulatory restrictions, the global crypto gambling market has seen significant growth, nearly doubling to over $70 billion in the first half of 2024.

Approval authority over casino operators' main shareholders has shifted from the GRA to the Minister for Home Affairs to ensure alignment with government objectives.