Singapore Pools is a licensed gambling operator that provides four digit lottery games including Toto. It is also the only licensed betting venue in Singapore.
Singapore Pools is a government-owned company. The Tote Board and Casino Regulatory Authority regulate Singapore Pools and the gambling industry in the country. They oversee the Tote, Sweep, and Turf Club.
The Tote Board is a statutory body that regulates horse racing, lotteries, and sports betting in Singapore. This organization is responsible for ensuring the security of the games.
The Tote Board is responsible for the administration of the four-digit Toto Lotto. It is a progressive jackpot game. First launched in 1968, the game was introduced in a 5/49 format, with a minimum jackpot of $300,000. In 2011, the prize was increased to $500,000.
A spokesman for the Tote Board says the game is an accepted form of recreation. He said there have been increased bets in the last few years, citing the easing of Covid-19 restrictions.
“In addition, the relaxation of the restrictions on gambling have led to an increase in bets on sports and lotteries,” said the spokesman.
The Tote Board also said the game was a popular activity among residents. During its last financial year, which ended March, wagers on the Toto reached SGD 9.2 billion.
While the prize isn’t the highest, it is one of the largest in the past decade. In 2013, the top prize doubled from $2 million to 2.3 million.