A total of 29 men and three women are believed to have been involved in numerous roles, working as illegal bookmakers, runners and punters.
Officers from the Criminal Investigation Department undertook an island-wide operation, which led to raids in Jurong West, Chai Chee and Hougang.
Mobile phones, pagers and betting records were seized during the raids, alongside S$12,490 ($9,200) in cash.
Under the Betting Act in Singapore, any person found guilty of betting faces a fine of up to S$5,000, a jail term of six months or both.
Any individual found guilty of being involved in bookmaking faces a fine of between S$20,000 and S$200,000, as well as a jail sentence of up to and including five years.
A police statement said: "The police take a serious view against all forms of illegal betting activities and will continue to take tough enforcement action against those involved, regardless of their roles."
Police investigations remain ongoing.
