It comes as a pleasant news for the gaming enthusiasts, The UAE’s first licensed lottery operator was announced on Sunday. With this, the government has established a regulatory framework for commercial gaming.
The General Commercial Gaming Regulatory Authority (GCGRA) stated that its regulatory framework protects consumers as it ensures fairness and transparency of all commercial gaming activities, including lotteries. Making unlicensed commercial gaming in the UAE illegal for both operators and players. Let’s know more about the UAE’s first lottery operator, whose activities come under commercial gaming, and penalties and risks of illegal gaming.
Operating under the banner of the ‘UAE Lottery’, The Game LLC is a commercial gaming operator that specializes in game development, lottery operations, and gaming-related content.
The company will offer a plethora of lottery and other games which will cater to interest of diverse individuals. However the exact type of games it will offer has not been revealed yet.
The Abu Dhabi based company will offer cutting edge technology and the new culturally relevant games to the gamers to get them hooked.
Commercial gaming as defined by GCGRA, refers to “any game of chance, or combination of chance and skill, where an amount of money, in cash or cash equivalents, is wagered – i.e. placed as a bet – for the purpose of winning a sum of money or other valuable items.”
In simple terms this definition means under such games stipulate the loser must compensate the winner with money or any other item of value.
