Singapore’s Gambling Regulatory Authority (GRA) has laid out plans to explore a new avenue for engagement and enable operators to introduce a myriad of new features.
A public consultation opened by the regulator is set to examine the introduction of game marketplaces that would allow players to shift from third parties and trade items in game.
It would raise the ceiling on gamification for Singapore operators, as players engage with a myriad of new elements within an operator’s portfolio from skins to graffiti and other elements of this ilk.
Detailing the potential changes, the GRA stated: “In-game marketplaces are sometimes included as part of the design of games to enhance the player experience. Many players use these in-game marketplaces to trade and obtain game items to enhance their gaming experience. These player-to-player transactions are also taking place on third-party platforms outside the game environment. They do not pose law-and-order or social concerns.
“Therefore, GRA proposes to amend the condition in paragraph 3(b)(iv) to allow operators of Type 2 RGOC to provide in-game marketplaces for players to trade prizes among themselves in exchange for money or money equivalent. Operators will not be allowed to buy back prizes from players through these marketplaces so as to avoid gambling inducement. We will also require that prizes exchanged in in-game marketplaces be designed for use within the game or related games only.”
The invitation for public feedback is set to end on August 20.
We have already seen other markets in Asia follow the lead of Singapore when it comes to gaming regulation, the country’s latest steps with regards to iGaming engagement could well usher in a new era for the gaming engagement in terms of how players interact with the market and how other markets regulate elevated levels of gamification.
Recent reports revealed that Vietnam’s Ministry of Finance is looking to adjust its framework around domestic gambling engagement and replicate the regulation utilised in Singapore that restricts domestic residents being able to engage with gambling venues.
iGaming Expert Analysis: In something of a bold move from Singapore, this underpins that the country is on the frontfoot when it comes to gambling engagement and is seeking to improve the player experience and enable operators to thrive in a vertical that is constantly evolving.
The move could represent a watershed moment for the sector, as if it is successful for the country it could usher in a new era for gamification in Asia, with other countries likely following suit.
September 15 will see SBC organise a groundbreaking charity football event in Lisbon. Make sure you get the chance to see some of the most legendary names in football by securing your ticket today at https://www.legendscharitygame.com/
