|Monday, November 01, 2004||Contact: Maurits Bruggink|
|Singapore may restrict credit card use for gambling|
The Singapore Government is drafting a new law, which would cover internet gambling. Restrictions on credit card companies are being considered for inclusion in the new law.
Like in many other countries, current legislation does not address internet gambling specifically. It states that gambling is allowed only with licenced operators, being “The Singapore Turf Club” for pari-mutuel betting on horse races and “Singapore Pools” for lotteries and sport betting.
The new law would aim to tackle online gaming with foreign operators, which is forbidden by law for people living in Singapore. As most of these bets are paid for via credit cards, the government considers banning the use of credit cards for these transactions.
For American Express, this would not change much as it has a global company policy not to allow their credit cards for gambling purposes.
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