Home » Singapore Casino Regulator Cites Loot Boxes as Gambling Risk
Singapore Casino Regulator Cites Loot Boxes as Gambling Risk
Recently updated on August 27th, 2019
Loot boxes in video games are in the news again and casino regulators in Singapore are investigating the ‘novel’ gambling products. They have mentioned the obvious appeal to a young demographic as the motivation to mitigate the possible risk involved in playing those games. Officially known as the Singapore’ Casino Regulatory Authority (CRA), it is one of the regulatory bodies in a long list of countries that have moved to investigate loot boxes and determine if they constitute gambling. These products are one of the handful of measures that the department is looking into in order to “support policy development and enhance CRA’s risk management.
Casino Regulator to Improve Risk management
The Second Minister for Home Affairs, Josephine Teo made the announcement at the 5th Singapore Symposium on Gambling Regulation and Crime on Thursday, Aug 29. During her speech, Mrs Teo made mention of the regulator’s commitment to the importance of responsible gambling and identifying characteristics that pose a risk to patrons who play video games. She explained that they were “working closely with the casinos in Singapore to implement measures to help patrons make informed decisions about gambling,”.
There has been a noticeable increase in online gambling in Singapore, with almost everyone owning a smartphone. Mrs. Teo wants to form a new law that looks at ‘novel’ products and how they can best be regulated. The CRA is taking notes of how gambling regulators in other countries have been dealing with the inherent rise in gambling around the world. The minister referred to the stats which have shown how the gambling revenue has grown from 2009 to 2016. In that period, there was a 10 percent increase, almost doubling the revenue to a whopping US$39 billion.
Possible Measures to be Explored
With the online gambling market expected to grow in the Asia-Pacific, some of the measures that have been highlighted to minimise the risk of problem gambling include the following:
Measures to notify patrons of the amount they spend at a casino.
Encouraging players to voluntarily setup limits on their expenditure.
Set caps on the duration of time spent at the casino.
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
Recently updated on January 26th, 2018Gambling laws in Brazil have been pending for years, with different bills being stalled in federal talks. This week, the Tourism Committee has called for Brazilian casinos to be legalised to boost tourist revenues. Paulo Azi, Federal Deputy for the organisation, spoke to local news outlets after launching the electronic […]
Recently updated on March 28th, 2019An Australian man has missed out on a NZ$73 million jackpot due to a time zone error. The man was betting on the US Mega Millions Lottery jackpot through Lottoland. It looked like he had hit the jackpot and was set to win a life-changing amount of money. However, due […]
Recently updated on January 22nd, 2019An Aussie lawyer who stole millions from a high-profile client to gamble has been sentenced to six years in jail. The lawyer, Brody Clarke, had placed a huge bet on a New Zealand rugby match with pinched funds in 2017. According to reports, the litigator had impersonated Bruce Gordon’s son […]
Recently updated on September 4th, 2019Anti-gambling campaigners are asking the authorities and the public to consider banning gambling ads. However, they are also willing to consider having warning labels on gambling advertising. Most of the gambling ads are not explicitly recognise them to be promoting gambling. This means that many people will not be able […]
Recently updated on July 8th, 2020On Monday, the Department of Internal Affairs (DIA) issued a formal warning to SkyCity Entertainment Group for emailing customers in March. Reportedly, the operator emailed customers in March, just days before Alert Level 4 was unveiled. In the email to loyalty program members, the company reportedly informed customers that its […]