Government of Singapore introduction of regulations for virtual item trading within online games
The Singapore Gambling Regulatory Authority (GRA) has announced plans to update the Remote Games of Chance (RGOC) licence framework, allowing Type 2 RGOC licensees to operate in-game marketplaces where players can legally trade prizes for cash or equivalent value. This change marks a significant shift from current regulations that prohibit operators from providing services that make prizes readily convertible into money or things of value outside of in-game transactions.
The proposed updates specifically aim to permit prize exchanges within licensed Type 2 RGOC games on in-game marketplaces. Licensees will be allowed to establish these marketplaces, but they are prohibited from repurchasing traded items from players, a measure intended to prevent "gambling inducement" by avoiding guaranteed monetization of rewards.
The amendment targets Paragraph 3(b)(iv) of the existing rules, which currently forbids prize conversion outside of gameplay or related games. Under the proposed changes, operators would be able to facilitate prize exchanges within their licensed games on in-game marketplaces.
The GRA considers current player-driven prize trading on third-party platforms as not raising social or law-and-order concerns. This update aims to bring such trading under regulated, licensed environments for better oversight.
A public consultation on these proposed changes was launched by the GRA and will remain open until 20 August 2025, indicating ongoing stakeholder engagement and possible refinements before implementation.
This update reflects Singapore’s regulatory adaptation to evolving gaming ecosystems where in-game economies and marketplaces have become integral, aiming to balance consumer protection with industry innovation within the remote gambling framework. The GRA has noted that these activities do not cause law-and-order or social concerns.
Meanwhile, Genting Singapore has appointed Lee Shi Ruh as its new President and COO amid ongoing changes within its senior leadership team. The changes in the gaming industry continue to unfold, with the GRA's updates to the RGOC licence framework being a significant step towards regulating and embracing the growing in-game marketplaces.
[1] Source: Singapore Gambling Regulatory Authority (GRA) [2] Source: The Straits Times
- The updates to the Remote Games of Chance (RGOC) license framework in Singapore will allow Type 2 RGOC licensees to establish in-game marketplaces, enabling sports fans and gamers to trade prizes within licensed games.
- As the gaming industry evolves, with in-game economies and marketplaces becoming increasingly integral, the Singapore Gambling Regulatory Authority (GRA) is taking steps to regulate and embrace these changes, as demonstrated by their updates to the RGOC license framework.
