OpenBet has entered into a new partnership with the Singapore Pools in a move that could see the interactive betting and gaming firm advise regulatory bodies in the country regarding online betting services.
Singapore’s government erlier this year introduced the new Remote Gambling Act (RGA), which features strict measures regarding online gambling.
The RGA allows authorities in the country to halt access to remote operators by ISP blocking via banking transactions.
The government also outlined its intention to serve criminal punishments to those operators that are deemed to have targeted consumers in the country on a remote basis.
However, according to national newspaper The Straits Times, the Singapore Pools and Singapore Turf Club have contacted authorities in the country in order to seek exemption from the RGA.
Both state-owned gambling operators are keen to become exempt from current laws regarding online gambling in the country and open betting markets to Singapore consumers.
The Singapore Ministry of Home Affairs will now evaluate the request, with this process possibly taking as long as 12 months to complete.
As part of this effort, Singapore Pools has struck a seven-year deal for OpenBet to serve as an advisor and develop its online sports betting service.
The agreement could also lead to OpenBet working with regulatory bodies in the country on a wider scale in order to offer advice over online betting activities.
Jeremy Thompson-Hill, chief executive of OpenBet, said: “Signing with Singapore Pools is a landmark win for OpenBet, one which affirms the company vision and direction, and our role as a global leader in major regulated gaming markets.”