What is RMVG? Regulated Money Video Games Explained
Competitive video games, much like traditional sports, carries an interest from fans who revel in competition and actively participate in testing their skills for a chance to win real money. Competitive and casual gamers alike love to test their skills and reap the benefits of their hard work. While iGaming originally started with online casino slots and eventually expanded into sports betting, up until recently there has not been a product in the US market that meets regulatory requirements allowing wagering around playing video games.
This new landscape is called Regulated Money Video Games, or RMVG.
What is an RMVG?
Regulated Money Video Games (RMVG) represent a form of gambling that integrates both skill-based and chance-based mechanics, providing a unique blend of gaming and wagering. These games are designed to comply with the stringent regulations of the iGaming industry, ensuring adherence to standards set by entities such as the New Jersey Division of Gaming Enforcement and Gaming Laboratories International. This compliance includes robust know-your-customer (KYC) protocols, anti-money laundering measures, and responsible online gambling requirements.
RMVGs are intended for adult players in jurisdictions where such activities are legally permitted. They encompass a wide array of game types, including mobile games, match-3 puzzles, shooters, hybrid casino games, trading card games, sports, racing, and many other standard video game categories. The core appeal of RMVGs lies in their ability to offer real-money competition through various gaming formats, allowing players to compete against each other or against the house for actual monetary rewards.
The concept of RMVGs is rooted in the desire of gamers to have more control over their betting outcomes, combining elements of skill and chance. This is in contrast to traditional online betting and sports betting, which are often predominantly luck-based. Gamers who have invested significant time and resources into competitive esports like League of Legends and Call of Duty, or popular mobile games like Candy Crush and Tetris, find RMVGs particularly engaging. These games offer an experience that satisfies their competitive nature while also incorporating elements of chance, giving players a sense of influence over the results of their wagers.
The integration of real-money gaming into the video game industry represents a significant evolution in the landscape of digital entertainment and gambling. Companies like Gaud-Hammer Gaming Group are at the forefront of this movement, leveraging their expertise in video game development and digital business scaling to create next-generation iGaming experiences. Their focus includes video game publishing, regulated video game wagering technology, and video game media, all aimed at building a new frontier in the gaming industry.
Esports Illustrated is operated by Gaud-hammer Gaming Group, an entertainment company providing technology and games to the regulated gambling industry.
TRENT MURRAY
Trent has covered esports since the birth of the LCS. He also led content strategy and served as Senior Writer for The Esports Observer and Sports Business Journal, and worked on the development team for Rushdown Revolt.