As the number of online gamers mark in India cross the 442 million surpassing China, experts emphasize the need for ethical gaming practices and strong self-regulation . Advisory firm Grant Thornton Bharat in collaboration with the E-Gaming Federation (EGF) have released a report titled “Guardians of Safe Play: Ethical Gaming for Vibrant Bharat”, highlighting the importance to prioritize adherence to a strong code of conduct and embrace self-regulation to ensure sustainable growth of the industry.
What the report suggests?
The Grant Thornton report advocates for a comprehensive Code of Conduct (CoC) in the gaming industry , setting clear standards for ethical behavior to ensure accountability and transparency. It also underscores the importance of third-party certification for fostering self-regulation and maintaining high industry standards.
As per the report, the CoC will aim to address key risks such as cyber threats, regulatory uncertainties, and financial risks, offering best practices to mitigate challenges and ensure the industry's sustainability and growth.
Emphasizing robust player protection mechanisms, the report highlights proactive measures and educational initiatives, calling for collaboration among industry players, regulators, and policymakers to create a safer, more responsible gaming environment. It further calls for robust regulatory mechanisms to safeguard players from cyber threats, fraud, and other unfair practices.
Games of Skill vs Games of Chance
Exploring the regulatory framework governing the real money gaming (RMG) sector, the Grant Thornton Bharat’s report also makes a clear distinction between games of skill and games of chance. It underscores the urgent need to modernize laws and establish clear, cohesive guidelines to navigate the complexities of the RMG sector. It further recommends modernizing the laws to address sectoral threats such as microtransactions and loot boxes.
What the report suggests?
The Grant Thornton report advocates for a comprehensive Code of Conduct (CoC) in the gaming industry , setting clear standards for ethical behavior to ensure accountability and transparency. It also underscores the importance of third-party certification for fostering self-regulation and maintaining high industry standards.
As per the report, the CoC will aim to address key risks such as cyber threats, regulatory uncertainties, and financial risks, offering best practices to mitigate challenges and ensure the industry's sustainability and growth.
Emphasizing robust player protection mechanisms, the report highlights proactive measures and educational initiatives, calling for collaboration among industry players, regulators, and policymakers to create a safer, more responsible gaming environment. It further calls for robust regulatory mechanisms to safeguard players from cyber threats, fraud, and other unfair practices.
Games of Skill vs Games of Chance
Exploring the regulatory framework governing the real money gaming (RMG) sector, the Grant Thornton Bharat’s report also makes a clear distinction between games of skill and games of chance. It underscores the urgent need to modernize laws and establish clear, cohesive guidelines to navigate the complexities of the RMG sector. It further recommends modernizing the laws to address sectoral threats such as microtransactions and loot boxes.
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