The Singapore "Anti-Lockbox Law" Won't Actually Affect Lockboxes
We've got an update on that Remote Gambling Bill in Singapore we discussed last week. In brief, it passed, but it won't affect video games -- for now.
Games in Asia is reporting that "the bill will not affect video games as long as players cannot convert in-game credits or tokens for money or real merchandise outside the game." That jives pretty well with one of the "loopholes" we posited that allows such practices to circumvent gambling laws: that the money only flows from player to developer and never in reverse. In other words, you can buy something that you might convert into cash, but you'll get that cash from a third party, like another player, and not the game's maker. That's different from, say, buying a lottery ticket or gambling at a casino. If you win, the lottery commission or casino itself pays you.
However, Singapore's Minister for Home Affairs spoke some dark words, saying "What may be benign today may appear more sinister tomorrow." Somebody oil up that slippery slope...
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
You May Enjoy
New World Update 1.6.1 Is Here With Some Hot Fixes, But Not The Expedition
Vials of Azoth have been re-enabled for use, including salvage.By Aspen Pash - 1 week ago
Always Online Podcast: Ashes of Creation Thoughts, Sony & Xbox Fighting, Esports Scandals, and Rumbleverse Review Ep 443
Ever been fired via Twitter? How about welcoming your replacement via Twitter THEN being fired?By Michael Byrne - 3 days ago
Square Enix Reportedly Sold Its Western Studios Because They Were "Cannibalizing" Sales, Long-Term Plan To Improve Finances In Motion
The plan? To start selling stakes in its studios to fund future development.By Anthony Jones - 1 week ago
Watch 24 Guitarists Perform An Insane Cover Of Final Fantasy XIV’s The Final Day
Now we know who’s buying those XIV Stratocasters.By QuintLyn Bowers - 6 days ago
Summer Comes To War Thunder And You Can Earn 4 Vehicles Right Now
Rewards include four new models of military vehicles.By QuintLyn Bowers - 5 days ago
What's Your Ship's Name? After A Short Delay, Sea Of Thieves Season 7 Finally Launches Across Xbox And PC Today
It's the captain's time to shine.By Anthony Jones - 1 week ago