S'porean arrested in the Philippines for cheating casino of $11m
A Singaporean man has been arrested in the Philippines for allegedly cheated a casino of US$8 million (S$11m).
Mr Dominic Sim, 37, had allegedly used a fake receipt to exchange US$30 million worth of gambling chips at Solaire Casino in the Philippines in February last year, Shin Min Daily News reported on Tuesday (May 26).
A representative for the casino said that when Mr Sim was confronted, he gave various excuses and did not return the money for months, which pushed the casino to make a police report.
Mr Sim, who ran a company called Bullion Investment Group, was arrested on April 21 and charged in court on May 14.
He asked for bail to return to Singapore a week later, but was denied.
"He said he wanted to return to Singapore to get the money but we did not believe him and hence asked that he is not granted bail," said the representative.
Source: The Straits Times
Gambling in Singapore
La Fleur's Magazine recently named Singaporeans as the world's biggest lottery spenders.
The national average spent by local gamblers last year is US$1,019 (S$1,361), close to 1.5 times that of second-ranked Massachusetts State Lottery, where the average spent last year was US$730.
A 2014 survey by the National Council on Problem Gambling showed that 4D is the most popular gambling activity among Singaporeans.
Of the 3,000 Singapore residents surveyed, 35 per cent bet on 4D while over a quarter bought Toto, making it the second most popular game here.
In total, local punters spent close to $8 billion a year on games run by Singapore Pools and Singapore Turf Club.
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