There’s no denying that Lottery Singapore is one of the best lottery operators in the world. Its games are affordable and exciting, and winning prizes is easy. Additionally, you don’t have to pay any taxes on your wins, which is a great bonus for gamblers. This is because the state-owned company Singapore Pools generates enough revenue from gambling that it does not need to levy additional taxes on winners.
In this episode of Money Confessions, we meet the Lim family from a middle-class neighbourhood in Singapore. The father has lost his sales job and now works in a factory, while the mother is working a thankless clerical job for an employment agency. Their son, Jiale, is a rascal who likes to play with Tamagotchis and try his luck at the Toto lottery.
Toto, or TOTO, as it’s known in Singapore, is a legal form of lottery sold in the country and operated by Singapore Pools. It’s the second most popular method of gambling after 4-Digits and tickets can be purchased at Singapore Pools outlets nationwide. The draws take place every Monday and Thursday at 6:30 pm (SG time), with the draw times moving to 9:30 pm in case of cascade draws.
To win, you must match six numbers plus an additional number from 1 to 49. The prize amount varies depending on how many numbers you get right. Each Singapore Pools lottery has different odds, so make sure you check the rules carefully before placing a bet.