In Singapore, lottery is a popular pastime. You can play the game online or at a Singapore Pools outlet, and prizes range from a few dollars to millions of dollars. But you should be aware of the rules before playing. This article will help you understand how the Singapore lottery works and what to do if you win.
In the case of winning a large sum of money in the lottery, you need to know that this type of income is tax-exempt in Singapore. This applies to both foreign sourced and local sourced lottery wins. However, you do have to pay capital gains taxes on assets that you sell or dispose of.
Lottery games in Singapore are regulated by the government and operated by a company called Singapore Pools. The main lottery games include 4-Digits, Toto, and Singapore Sweep. While there are a number of retailers where you can buy tickets, some of them are not licensed to do so.
If you want to claim your prize, you must present the ticket to the official lottery counter. The counter is open from Monday to Friday, 8am – 4.30pm (excluding public holidays). You must also bring the ID that you used to purchase the ticket, as well as your bank account details.
If you’ve won a Singapore Toto prize, you must claim it within 180 days of the draw date. Winnings will be disbursed as cheques at the Singapore Pools Main Branch at 210 Middle Road.