Following the GST Council’s imposition of a 28% standard GST on online gaming, casinos, and horse racing on Wednesday, Delta Corp’s share price experienced its steepest one-day decline ever.

The share price fell from its opening BSE price of 222.15 per unit, which was 10% lower, to an intraday low of 178.20 per unit. Shares of Delta Corp are slightly above their 52-week low of 172.30 per share, which was set on July 12, 2022.

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On July 11, the Goods and Services Tax (GST) Council imposed a standard 28% GST on online gambling, horse racing, and casinos on the whole value of the wagers. This move is anticipated to have a detrimental impact on the online gambling and casino industries.

Read more about GST shock: 28% tax on online gaming and gambling

However, given its pricing strength and long-term economic prospects, analysts think that the decline in Delta Corp shares may be a good time to buy the stock.

“Delta Corp shares experienced an immediate reaction to the GST Council decision. The business, which is the only listed participant in the casino sector, has the pricing authority to pass the cost on to clients. Despite high GST rates, it is anticipated that its business will expand, according to Avinash Gorakshakar, director of research at Profitmart Securities.

According to Gorakshakar, the expense may be passed on to customers in the upcoming quarter and will not significantly affect the company’s ability to conduct business.

“Over time, the company will grow more and more. The stock market’s decline can be used to buy shares at these cheap prices in order to amass them over time, according to Gorakshakar.

Also Read: Nazara Tech and Delta Corp share prices fall 5% and 20%, respectively, in response to a 28% tax levy under the GST on Online Gaming.

Technically, in March, shares of Delta Corp. surpassed the critical support level of $175, which is regarded as critical due to its historical significance.

It’s crucial to remember that a closure below this mark could potentially lead to further weakening and bring the stock down into the 140 mark. The 200-day moving average (DMA) at 215 represents an immediate and significant resistance on the upswing, followed by a significant obstacle at 240. According to Santosh Meena, Head of Research at Swastika Investmart Ltd., breaking through these levels would take a lot of power and would indicate a change in momentum.

However, Meena thinks there is a chance of a consolidation period between 200 and 240 if Delta Corp is able to remain above the 175 support level. This, in his opinion, indicates that there may not be much of a directional bias in the stock’s trading within this range.

According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher Pvt. Ltd., the Delta Corp stock plunged significantly in a single day as a result of bad news, and technical analysis showed that the trend was weakening as it breached below the 200-period MA and the 50-EMA.

“The major support would be visible near the 173 zone and for the bias to improve overall it needs to recover above the significant 200 period MA level of 214 to establish some stability and conviction,” Parekh stated.

At 1:30 pm, Delta Corp. shares were down 22.59% on the BSE, selling for 191.05 each.

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The 39th Breeders’ Cup World Championships will take place at Keeneland Racing Track in Lexington, Kentucky, on November 4-5. Fans across the world may see the live matches on partner TV channels. Also, fans can place bets via simulcast outlets or online, making the event and the celebrations leading up to one of the most thrilling experiences ever.

Here are some interesting facts regarding the Breeders’ Cup, which dates back to the early 80s when a Hollywood star was hailed as the U.S. President, there were only a few TV channels, and gas rates & prices were cheap.

John Gaines: Father of Breeders’ Cup

John Gaines, who owned Gainesway Farm near Lexington and died in 2005, is the one responsible for the concept of a world championship thoroughbred race. Gaines viewed it as a chance to improve the racing industry. By adding a major fall race to match the Triple Crown in the spring and summer, Gaines sought to also improve the relationship between the breeders and the racing industry.

Gaines first proposed the idea of the race at a luncheon before the 1982 Kentucky Derby. After less than three years, Hollywood Park in California opened its gates for the first-ever Breeders’ Cup race. In front of more than 60,000 spectators and a national audience watching on their TVs, that fateful November race would become a yearly spectacle still going strong today.

Two Additional Days for Fans

To add more excitement to the race, officials of the Breeders’ Cup included a two-day event in 2007, which was hosted in New Jersey. Since then, the two-day race program has undergone several changes, and now the World Championships are split into a Future Stars Friday with five additional races for 2-year-old horses. The Super Saturday, however, was a race for horses aged three and older.

With more than $180,000,000 gambled on the fourteen championship races for all breakdown of the mile odds, the Breeders’ Cup at Del Mar established a record for an overall purse last year.

Leading Breeders’ Cup Host

The Breeders’ Cup was held three times at Hollywood Park in Inglewood, which had been shut down in 2013. Currently, the park is now home to the SoFi Stadium. Santa Anita Park in Arcadia holds the record for most hosts with ten events.

Del Mar, which is a 2-hour drive south of Los Angeles, historically had its first hosting of the Breeder’s Cup last 2017. As great as these places are, Kentucky holds the record for the most hosted events at 11.

Foreign Horses Titleholders

One of the goals for improving the racing industry was to bring in competitors from all over the world in hopes of attracting a global audience. Since then, the Breeder’s Cup has hit that goal, with several foreign participants vying for that elusive title.

The majority of foreign horses that are doing well come from Europe and compete in turf events. Pebbles, a British-bred thoroughbred, had eight victories under her belt when she competed between 1983-1985. Goldikova, an Irish thoroughbred based in France, won the Breeder’s Cup three times. Asian contenders are also starting to catch up, as the 2021 finals at Del Mar saw horses from Japan(Loves Only You and Marche Lorraine) dominate the race.

Hall of Fame Race Mares

Twenty-four horses have overall achieved more than one Breeders’ Cup race, but only two have won three. Goldikova dominated the Breeder’s Cup for three years, winning the 2008, 2009, and 2010 editions in her three starts. Famed jockey Olivier Peslier rode Goldikova through these wins. After an exciting race in 2011, Golidkova failed to get an elusive four-peat as she only placed third.

Beholder, a mare based in California trained by Richard Mandella, thrived despite considerable setbacks. At age 2, she won the Breeders’ Cup Juvenile Fillies, and at age 3, she won the Distaff, and at age 6, she won the Distaff once more after missing the following two competitions due to injury.

One of the greatest races in Breeders’ Cup history belongs to Beholder in a win over Songbird in 2016. For their feats, both Goldikova and Beholder were welcomed to the Racing Hall of Fame.

Ireland For Most Number Of International Breeders’ Cup Wins

Thirty-eight of the 388 horses who have raced in the Breeders’ Cup over the years have triumphed, including Twilight Gleaming, Space Blues, and Modern Games in 2021 from Ireland. Following Great Britain, which has given birth to 24 winners, comes France, with eight.

Final Thoughts

With the 2022 Breeders’ Cup hanging around the corner, many fans are now thrilled to witness the most exhilarating horse racing finale show this year. While it’s still a week before this happens, it is always good to look back at how this grand racing show started and be amazed by the interesting facts that the Breeders’ Cup has.

Gambling rules and regulations are strict in Singapore, yet the bettors do not stop placing their wagers. It is because the craze for gambling is as high here as it is in other countries. But due to the limited knowledge of gambling, the punters are often not able to place profitable bets. They do not know much about how sports betting works in Singapore, and their less knowledge on the subject makes them weaker in the gambling section. However, if you are also facing a lot of confusion about how to proceed with betting on your favorite sports, we are here!

Tim Harrison knows everything about the sports betting market in Singapore, and that is why he is the right person to guide you. We have added many of his suggestions that he shared with the RecentlyHeard team in a recent interview in this blog. So, are you excited to learn more about sports betting in Singapore? If yes, keep reading!

Welcome Offers You Can Win in Singapore Sports Betting Sites

Welcome offers are provided by almost every sports betting casino in Singapore. Unlike in other countries, free bets are not that common in Singapore. They are more into bonuses like Deposit Match and Bet and Get. Have a look! We have explained these deals in detail.

Deposit Match

In almost every betting site, a deposit match is the most common type of deal you will be offered. Well, that’s good news because these bonuses are indeed the best! A match bonus is a percentage of rewards 100 free credits if you deposit $100. Similarly, if the site offers a 200% match bonus, you will get 400 free credits for depositing $200.

Even though there is no major drawback to deposit match bonuses, one thing that the players do not really like is the high wagering requirement. Often, the wagering requirement is five times the bonus, which is troublesome. However, meeting the rollover requirement won’t take much time if you are a skilled gambler.

Bet and Get

Bet and Get bonuses are not standard in Singapore betting sites, but they are still found, unlike many other bonuses listed on other countries’ betting platforms. As the name suggests, you need to BET a certain amount of money to GET a certain reward. Therefore, these deals are pretty easy to use. Moreover, even beginners can use this bonus to grab profitable betting opportunities. To help you understand this bonus even better, here’s an example – if you bet $20, you get $60. Tim loves this deal, and we believe so will you!

Sports Betting Options Available in Singapore Betting Sites

If you enjoy Singapore sports betting, you will be more than happy to know that you can place your bets on several renowned sports. Here is the list:

• Football: This sport is popular on every betting site irrespective of which country you play in. Therefore, in Singapore, too, there is a craze for football betting. In Singapore gambling sites, you will find many wagering opportunities on national and international football tournaments.
• Horse racing: A few bookies allow you to bet on horse racing. The number of sites offering this option is less because they often cannot get a proper license for hosting horse race tournaments on their site.
• Basketball: Are you a fan of the NBA and other basketball tournaments? If yes, Singapore betting sites will eagerly welcome you. They have the best collection of basketball betting opportunities for bettors who love this game.
• Golf: Another popular sport you will find on these sites is golf. Many golf tournaments happen in Singapore and worldwide. These sites allow their bettors to wager on such events without any hassle.

RecentlyHeard Team Explains Mobile Sports Betting Opportunities

The RecentlyHeard team is glad to announce that several mobile apps are present for Singapore betting. These apps have excellent features like an easy user interface, smooth layout, perfect functions, mobile-optimized display, etc. So if you are a mobile gambler looking for a new world of betting on your smartphone from Singapore, here is your chance!

Betting Sites to Join in Singapore

So which betting sites in Singapore are worth joining? Here’s the list:

• 1XBETSportsBet.io
• FEZbet
• Redbet
• MELBET
• ivip9
• BK8
• 22BET
• BetWinner
• ComeOn

FAQ

How Do We Pick the Best Sports Betting Sites in Singapore?

One question that most gamblers ask is how we pick the best Singapore betting sites. Well, here are a few things we check:

1. We check if the site has a proper gambling license. If there are any suspicious activities on the site, we never recommend them.
2. We also read the platform’s reviews on sites like Trustpilot, AskGamblers, Reddit, etc. Here, the customer reviews help us understand whether or not a platform is worth it.
3. Besides that, we go through the sports offered. The site must have a versatile collection of sports.
4. Another important thing we note is the availability of bonuses. If there are plenty of bonuses available, we suggest they help the bettors earn huge profits.
5. Lastly, we connect with the customer support team to see how they behave and react to our queries.

What Payment Options can We Find on the Singapore Sports Betting Sites?

There are several secure payment methods that the Singapore sports betting sites have recently added to their deposit and withdrawal page. Some include PayPal, Neteller, Skrill, MasterCard, Visa, etc. All of these payment methods are quick and safe.

How to Know that a Singapore Betting Site Is Safe?

To check the safety of a Singapore betting site, read its terms and conditions first. After that, also go through the security policies. Lastly, check the customer reviews. Join the site only if everything looks right; otherwise, skip to the next! Make sure you take it slow because you might miss some vital points if you hurry.

Final Word

Tim Harrison and the RecentlyHeard team tried to cover all the major points related to Singapore sports betting. We hope this blog helps you learn new things about the gambling market in your country. Even though you have read this guide until the end, we recommend you study more before joining a site. Also, learn all about the sports that you bet on. Many gamblers do not know the sports they are putting their wagers on; they follow the standard betting trends. But this brings them nothing but losses. So, we recommend you become a wiser bettor. Learn about the field and then decide your bets.

So when are you planning to take part in Singapore sports betting? We cannot wait to know!