Formed in 1968 to tackle the illegal gaming operators that populated the back alleys of Singapore, Singapore Pools has since transformed into an organisation that has been instrumental in funding various sectors ranging from the community, charity to sports.
Singapore Pools has made significant progress since the formative years and on Monday night (21 May), the Company celebrated 50 years of community giving.
During the anniversary dinner, Guest-of-Honour and Minister of Finance Heng Swee Keat said that in the beginnings of modern-day Singapore, the streets were filled with illegal gaming activities where gamblers made their bets with illegals and were susceptible to “filching, unfair play and other illicit practices”.
There was a need to address the issue by introducing a legal outlet for gamblers. At the height of the illegal gaming problem, the illegal operators “were estimated to each turn over $300,000 daily, equivalent to over $2 million today!” The pressing question then was how to filter these funds to support worthwhile causes for the community?
It was in context of such a tumultuous backdrop that Singapore Pools was born. To serve as a pragmatic avenue to “create a safe space for Singaporeans to participate in a game of chance without being victims of unfair practices” and “to allow surpluses to be directed towards meaningful causes for the community.
Gaming surpluses from Pools have been supporting numerous activities across various sectors. Over the past 14 years alone, more than $5.8 billion in surpluses have been contributed to six key sectors – charity, community development, education, health, sports and the arts.
Over the past 50 years, Singapore Pools has collaborated closely with the authorities to promote responsible gaming. The World Lottery Association Responsible Gaming Framework – the best standards in the global lottery industry – has awarded Singapore Pools with the highest certification in both 2012 and 2015.
Beyond enhancing efforts to be a safe and responsible gaming operator, Singapore Pools has also been exploring bold and innovative solutions to uplift communities and improve on its charitable quotient. The launch of iShine Cloud is the culmination of months of intensive planning and research that tapped on the company’s expertise in IT infrastructure and management. Supported by the National Council of Social Services with a $5million seed fund, iShine Cloud will enable the social service sector to level up on its IT capabilities so that precious time and resources can be channeled for core purposes – their beneficiaries.
In his speech at the anniversary dinner, Singapore Pools’ Chairman, Mr Koh Choon Hui, thanked the Company’s past leaders and recognised the strong charitable spirit that has transcended over the years. He said, “My heartfelt wish is for Singapore Pools to be a force for good for the community. For it is in giving that we receive – may we never waver from this spirit."