S’poreans’ gambling losses: $2.7b?

March 20, 2017

I refer to the article “The biggest losers” (The Economist, Mar 18).

S’poreans are the 2nd biggest gambling losers in the world?

It states that “This is no anomaly. Australia fritters away more money per person gambling than any other country. According to H2 Gambling Capital, a consultancy, the average adult lost $990 in 2016; 49% more than Singaporeans, the next-biggest losers.”

Average adult Singaporean lost $930?

Does this mean that the average adult Singaporean lost about S$930 (US$990 divided by 1.49 x 1.4)?

Lost $2.7b in a year?

Since the adult population was about 2.9 million in 2016 – does it mean that we lost about $2.7 billion ($930 x 2.9 million) in a year?

Leong Sze Hian

About the Author

Leong

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications.