Sunday, October 02, 2016

Wanna bet?

People are understandably concerned about the legalization of online betting in S'pore within the next month or two. Going online makes it more convenient to place bets via mobile app than having to trudge down and queue up at the corner betting store. But will convenience alone cause a spike in gambling as our concerned citizens fear? I doubt it.

This convenience comes with a price: the ability for the authorities to identify individual bettors, track how much each is wagering per transaction and establish their betting patterns over time. Cross-referenced against personal incomes, disproportionate or suspicious spending on bets can be flagged out for intervention if necessary.

If I were a betting man, I'd still go to the corner shop and place an anonymous bet with less-traceable cash. Only if I win big will the world know who I am. Until then, how I bet and what I bet on is nobody else's business. And as a non-betting man, I see more disincentive than incentive to start.

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