SRIJ – Portugal’s gambling inspectorate – aims to become the first European regulatory agency to incorporate laws to govern the new casino game types of ‘Crash’ and ‘Loot’.
Last week, SRIJ published its ‘technical framework’ on proposed standards to govern the multiplier’ games of Crash and Loot, which are recognised among online casino’s fastest-growing vertical – popular with new audiences.
Launching its draft framework, the inspectorate that serves as Portuguese Gambling’s market supervisor under the authority of the Portugal Tourism Board – launched a 30-day consultation for feedback on its proposals to be reviewed by stakeholders.
Crash and Loot are multiplayer games that allow players to instantly multiply their wagers by cashing out of each game round against a randomised clock.
The games’ multiplier starts at x 1.00 and begins to incrementally increase, with players allowed to cash-out at any point. However, a player will lose his stake if he waits too long and the ‘multiplier crashes’.
Game rounds can immediately crash at X 1.00, providing no winnings for participants. Likewise, the games have been recorded to provide cash-out opportunities of X 1000 in certain instances.
Of concern to regulatory agencies, Crash and Loot have become the most popular game types amongst a new generation of players, introduced to the games via crypto casinos.
A consultation is required to define Crash and Loot game type characterises legally, which will help the inspectorate establish ‘specific and complementary rules’ that will be applied to Portugal’s existing online gambling regime.
Draft proposals will allow ‘licensed operating entities’ to request for the ‘authorisation to operate Crash and Loot games’, which must follow SRIJ’s approved criteria for offering the game types to Portuguese players.
The document outlined ‘49 technical rules’ that operators must observe should they offer Crash or Loot.
SRIJ prefered gameplay rules state that the “starting base value of the multiplier increment is X 1.00, in which operators must ensure that each game maximum increment stands of X 100”.
Operators must ensure that the cash-out option is immediately available at X 1.01 multiplier for participants.
Players will only be allowed to place ‘one-to-two bets per multiplier round’, in which the operator must ensure that auto cash-out functionalities are provided to customers.
Incorporating specific Portuguese market rules, SRIJ stated that, ‘without prejudice’, operators must ensure that Crash and Loot type games provide a ‘theoretical rate of return in prizes to players that cannot be less than 80%’.
https://casinobeats.com/2022/05/23/portugal-srij-inspectorate-first-to-move-on-regulating-crash-type-games/