Singapore's Government Authority to Implement Regulations for In-Game Prize Trading
Singapore's Gambling Regulatory Authority Proposes Changes to In-Game Marketplaces
The Gambling Regulatory Authority (GRA) of Singapore has announced plans to update the Remote Games of Chance (RGOC) licence framework, aiming to allow licensed Type 2 RGOC operators to establish in-game marketplaces where players can trade prizes for cash or equivalent value[1].
Currently, regulations prevent operators from providing services that enable prizes to be readily converted into money or anything else of value, except for uses within the same or related games. However, the GRA has noted that players often engage in trading activities on third-party platforms, which fall outside licensed regulation[1].
The key details of the proposal include an amendment to Paragraph 3(b)(iv) of the RGOC licence terms, permitting in-game marketplaces operated by Type 2 licensees where prizes can be exchanged for cash or its equivalent value[1]. Operators are, however, prohibited from repurchasing items from players to avoid "guaranteed monetisation" of prizes, which could induce additional gambling[1].
The GRA has highlighted that these trading activities do not raise significant law-and-order or social concerns, making the regulatory update necessary[1]. The public consultation on these changes will remain open until 20 August 2025[1].
The proposal aims to address the evolving gaming landscape, where players commonly trade in-game items such as skins, weapons, and stickers. By legitimizing and regulating these in-game markets, the GRA hopes to ensure a safer and more transparent gaming environment for all players[1].
The changes come as part of ongoing updates within the gambling industry, with Lee Shi Ruh recently appointed as the new President and COO of Genting Singapore[2]. The Gambling Control Act has been in effect since 1 August 2022[3].
[1] Source: GRA Press Release, 2023 [2] Source: Genting Singapore Press Release, 2023 [3] Source: Singapore Parliamentary Records, 2022
The Gambling Regulatory Authority (GRA) of Singapore is planning to amend the Remote Games of Chance (RGOC) licence framework, allowing Type 2 RGOC operators to establish in-game marketplaces for trading prizes. These marketplaces can exchange prizes for cash or equivalent value, a move aimed at regulating and ensuring a safer gaming environment.
