All India Gaming Federation (AIGF), the apex body for Skill Gaming in India has collaborated with one of India’s top 4 consulting firms to create a regulatory framework that is said to refine and redefine the Gaming industry in India.
The Gaming industry has seen a constant surge in recent times as displayed with the swelling numbers of players and operators. However,many believe that the true potential of the industry is yet to be tapped, citing the unstructured nature of the industry. A regulated and safe environment will lead to an eco-system that might be favorable for all concerned stakeholders.
As in the case of other recent initiatives taken up AIGF like institution of Skill Charters and launch of Pro Series, the regulatory framework too promises to put various critical aspects of the industry in order. The framework which is also called ‘Member Evaluation Framework’, will list key principles that a Gaming operator has to abide before becoming an AIGF member thus creating a notion of trust, and safety before a player signs up with any AIGF member.
The key principles listed under the framework are as under:
1. Responsible Gaming – Here the operators and service providers are to uphold the highest standards to ensure a fair and safe gaming environment that protects the players from adverse consequences of Gaming.
Key Framework Factors: Transparency & Communication, Responsible Gaming Practices, Responsible Play Settings and Self Exclusions
2. Player Protection – This will ensure that the player interest is taken care at all times. Elements that will come into play will include fair play, data security, due diligence and player assistance.
Key Framework Factors: Player Fund Management, Assisting Vulnerable Players, Personal Data Security and Protection, Fair Play Violations
3. Safe & Secure Environment – Creating a playing environment that is highly secure and backed by multi-level checks to avoid fraudulent practices is of critical importance.
Key Framework Factors: Cyber / Information Technology Security, Physical Security, Secured Playing environment & Payment Gateways
4. Regulatory and Social Requirements – Various factors like underage and illegal Gaming, misleading messages in communication and money laundering that constitutes the regulatory and social space need to be taken care of.
Key Framework Factors: Anti Money Laundering, Underage and Illegal Gaming, Advertising and Promotions
5. Support Functions – The functions listed here will aid the holistic objective of creating a sustained Gaming industry that stands for integrity and responsibility.
Key Framework Factors: Governance – Financial Statements and Statutory compliance, Disaster Recovery, Connectivity and Maintenance, Data back-up procedures