Real Money Gaming Industry Code of Ethics: KYC, Spending Limits

New Delhi, Mar 10 (PTI) Industry bodies representing online real money gaming companies, AIGF, EGF and FIFS, have jointly signed a "code of ethics" which their member companies will adopt for promoting user safety and responsible gaming practices, including KYC verification, spending limit etc, a join statement said on Monday.

The members of these gaming industry bodies include Dream11, My11Circle, Khelo Fantasy Live, SG11 Fantasy, WinZO, Games24X7, Junglee Games etc.

"The All India Gaming Federation (AIGF), the Federation of Indian Fantasy Sports (FIFS), and the E-Gaming Federation (EGF), today jointly signed a 'Code of Ethics' (CoE)

"The CoE is aimed at enforcing consistent standards of user safety across the industry through the implementation of responsible gaming and advertising policies and mandates annual third-party audits and comprehensive reporting mechanisms to ensure accountability and transparency," the statement said.

The statement claimed that CoE has been created based on global best practices and lays down a strong framework for responsible gaming, such as age-gating, adopting stringent KYC and enabling user-set spending limits and self-exclusion.

"It will apply to all online gaming operators who are members of the federations and offer skill-based real-money gaming services in India and safeguard the interests of over 50 crore Indian gamers," the statement said.

The Ministry of Electronics and IT are yet to execute online gaming rules that were released in April 2023.

Tamil Nadu has earlier banned Real Money Games (RMG) but in February issued stringent rules to regulate these platforms, including a ban on minors from playing on these platforms, spending limit, blank hours from 12 am midnight to 5 am when no login in the games should be allowed.

The CoE signed by the gaming industry bodies includes age gating, no operations in restricted states, and a robust KYC mechanism, safeguarding data, appropriate management of player funds, ensuring integrity and fairness in gameplay.

"Through collaboration with other industry federations, we are setting new benchmarks for ethical gaming, strengthening the credibility of India's online gaming sector, and building a sustainable, globally competitive ecosystem." All India Gaming Federation (AIGF) CEO Roland Landers said.

E-Gaming Federation (EGF) CEO Anuraag Saxena said that national interest, consumer interest, and the industry's interest have all suffered too long.

"Unethical gambling operators have been parasitically harming the nation, its exchequer, and its people. I'm delighted that the industry is collaborating on the joint code-of-ethics today," he said.

FIFS, Director General, Neil Castelin said the joint code marks a significant step forward in our commitment to fostering a safe, fair, and responsible gaming environment in the country.