Grant Thornton Bharat and the E-Gaming Federation (EGF) have released a collaborative whitepaper titled “Guardians of Safe Play: Ethical Gaming for Vibrant Bharat,” in response to India's online gaming sector surpassing China. Industry estimates reveal that the number of online gamers in India has soared to 442 million, underscoring the need to prioritise a strong code of conduct and embrace self-regulation to ensure sustainable growth in the industry.
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Ethical Standards And Self-Regulation In Gaming
The report calls for a Code of Conduct (CoC) in the gaming industry to set clear standards for ethical behaviour. The whitepaper also highlights the need for third-party certification to promote self-regulation and maintain high industry standards.
The CoC addresses risks like cyber threats, regulatory uncertainties, and financial risks, providing best practices to manage these challenges and ensure industry growth. It emphasises strong player protection measures, proactive steps, and educational initiatives, urging industry players, regulators, and policymakers to work together for a safer gaming environment. Additionally, it calls for robust regulations to protect players from cyber threats, fraud, and unfair practices.
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Regulations For Real-Money Gaming Sector
The report thoroughly examines the regulations for the real-money gaming (RMG) sector. It reviews key laws like the Public Gambling Act and the Information Technology Guidelines, highlighting the need to update laws and create clear guidelines to manage the RMG sector's complexities.
According to Shalabh Saxena, Partner at Grant Thornton Bharat, the report's call for fair play, transparency, and protecting mental well-being. A strong code of conduct is central to ensuring high ethical standards across the gaming ecosystem.
Anuraag Saxena, CEO of EGF, shared, “Trust is the cornerstone of our industry. As India's gaming industry experiences exponential growth, we must prioritise player safety and responsible gaming practices. This whitepaper provides a roadmap for the industry to foster trust, transparency, and sustainability.”
Supporting the whitepaper, Parth Chadha, Co-Founder and CEO, STAN, told ABP Live, “It is truly a proud moment for all the gaming community stakeholders. we are on the path of rapid expansion, and implementing a code of conduct and self-regulation becomes paramount for the gaming industry.”
“In the gaming sector, ensuring player protection and upholding consumer rights are the most important factors to the integrity and future growth of the gaming industry,” Chadha added.