Online gaming companies create joint code of conduct; Claims of KYC, spending limits and fairness
New Delhi| The industry bodies representing online real money gaming companies, AIGF, EGF and FIFS, have jointly signed a “Code of Conduct”. In this code of conduct, member companies have talked about promoting responsible gaming practices like user security, KYC verification and spending limits. A joint statement was given this information on Monday.
Companies that have signed the code of conduct include such companies as Dream11, My11Circle, Khelo Fantasy Live, SG11 Fantasy, Winjo, Games24X7, and Wild Games. All India Gaming Federation (AIGF), Fantasy Sports Federation of India (FIFS) and E-Gaming Federation (EGF) today jointly signed a ‘Code of Conduct’ (CoE).
“The Code of Ethics (CoE) aims to enforce consistent standards of user safety across the industry through the implementation of responsible gaming and advertising policies and ensure accountability and transparency”, the statement said.
The statement claimed that the CoE is built on global best practices and creates a strong framework for responsible gaming. The CoE includes things like age limit, adoption of rigorous KYC process, fixed expenditure limit of the user and enabling one to exit the game as per one’s own wish.
“This will apply to all online gaming operators who are members of federations and provide skill-based real-money gaming services in India and protect the interests of over 50 crore Indian gamers”, the statement said
The Ministry of Electronics and IT has not yet implemented the online gaming regulations released in April 2023. Tamil Nadu had earlier banned real money games (RMGs), but in February issued stringent rules to regulate these platforms, including a ban on minors playing on these platforms, spending limits, restrictions on gaming from 12 midnight to 5 am. Things like a ban on operating from. When login to games will not be allowed.
CoEs signed by gaming industry bodies include age limits, prohibition of any type of operations in restricted states, a strong KYC mechanism, protection of data, proper management of players’ funds and ensuring fairness.
“Through collaboration with other industry federations, we are setting new standards for ethical gaming, strengthening the credibility of India’s online gaming sector, and building a sustainable, globally competitive ecosystem” said Roland Landers, CEO of the All India Gaming Federation (AIGF)
E-Gaming Federation (EGF) CEO Anurag Saxena said that national interest, consumer interest and industry interest have all been suffering losses for a long time. “Unethical gambling operators are parasitically harming the country, its treasury and its people”, he said. I’m glad the industry is cooperating today on a joint code of conduct” FIFS Director General Neil Castelin said that the CoE is an important step towards our commitment to promote a safe, fair and responsible gaming environment in the country.
