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Singapore Pools, the country’s only legal lottery operator, has won a major IT accolade for its innovative PoolzConnect system. The IP-based telephone betting platform combines a secure payment gateway with an advanced call center, making it easy for customers to place bets remotely and automatically receive their winnings. Singapore Pools credited the success of its project to strong leadership support and a team of experienced professionals.
PoolzConnect has allowed Singapore Pools to tap into new markets and reduce illegal betting activities. In addition, it has enabled the company to automate its processes and improve customer service. It has also boosted its revenue streams and reduced operating expenses, while improving security and transparency. The platform’s advanced e-payment infrastructure also makes it possible to transfer winnings to customers’ pre-set, approved bank accounts.
Founded in 1968, Singapore Pools is owned by the Tote Board, a statutory body under the Ministry of Finance, and channels operating surplus to a number of community initiatives. Its last financial year saw it collect close to $9 billion in betting duties, taxes, and contributions to the Tote Board. The company’s diversified product roster includes 4-D, Toto, Singapore Sweep, sports betting, and horse racing.
The UK Tote Group and Singapore Pools have signed a commingling agreement that will allow Singapore Pools customers to bet into the Tote’s pools on British racing meetings. The move is expected to increase liquidity and ensure a better financial return to the sport. It will benefit all participants, including horseracing’s 59 racecourses and the racecourse owners.
Aside from boosting its liquidity, the deal will make it easier for UK racing fans to bet on their favorite races in the region, including the Cheltenham Festival, the Prix de l’Arc de Triomphe, and the Grand National. The two organizations will work together to create larger UK pools and boost the overall profitability of the sport.
The deal is a result of a long-term partnership between both companies and will provide a wider range of products to consumers. The commingling of these pools will be beneficial for both parties, as it will help to grow the UK’s racing market, which is currently in a period of decline. It will also help to make the racing industry more sustainable for all stakeholders. Moreover, this agreement will help to protect the future of the sport, as it will increase its exposure across Europe. This will ultimately help to drive up ticket sales and attract more punters, especially those from Asia. It will also help to boost the image of British racing around the world.
