Key points:
– The Singaporean Gambling Regulatory Authority (GRA) may let operators create in-game marketplaces. This would allow players to trade in-game items
– This applies to Type 2 remote games of chance license holders.
– The public consultation period will conclude on 20th August.
The Gambling Regulatory Authority (GRA) of Singapore will start public consultations. This is about proposed changes to its remote games of chance (RGOC) licence.
The current Gambling Control Act started on 1 August 2022. The industry has kept changing since that time.
The GRA notes that many players use in-game marketplaces. They trade and get items for their games. These items include graffiti, stickers, weapons, and weapon skins.
These are done on third-party platforms. Type 2 RGOC licensees cannot offer these platforms or services themselves.
However, the GRA has expressed that “they do not pose law-and-order or social concerns.”
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The change to Paragraph 3(b)(iv) would let Type 2 RGOC licensees set up in-game marketplaces. Players could trade prizes for money or something similar.
The current law states: “The operator does not, alone or with any partner, offer a service. This service allows the prize to be easily changed into money, a money equivalent, or anything else of value.” The only exception is if the thing of value converted from the prize is used in in-game transactions when playing the same game or related games.”
Good to know: Type 2 RGOC’s are an interactive game of chance that players pay to take part in. There are no monetary prizes, but they can receive in-game items that can be used within the game itself.
If operators did create marketplaces for players to trade in-game prizes received from Type 2 RGOCs, the operators themselves would not be allowed to buy the items back from players.
This is to avoid “gambling inducement”, as the GRA explains, this would create a “guaranteed monetisation” of the prizes.
The public consultation period will end on 20 August.
Elsewhere in the Republic, Lee Shi Ruh has been named President and COO of Genting Singapore as the operator undergoes a series of senior management changes.