External auditors focus only on the corporate financials. They do not audit the gaming algorithms. They are not specialists in that area. They ensure that the reported numbers are as factually accurate as possible.
As in $1m in a bank account is actually represented by $1m cash in bank via a bank confirmation. At a point in time.
Or that a physical asset actually exists and that it’s current valuation is relevant at that point in time.
Or a brand goodwill valuation is still relevant at that point in time.
Or a liability is fairly stated at that point in time. Or all liabilities that are conceivable are included in or at least reported as contingent.
Gambling establishments need a gambling licence to operate. That’s from the gaming commission or whichever government authority is in charge of issuing gambling licences. Licensees must abide by the TnC of that licence and must accept periodic audits as dictated by the gaming commission. These audits focus on licensee’s operations. It’s more of an internal audit.
This game does not require a gambling licence to operate. Therefore it is not subject to the Gambling Act or similar in any jurisdiction that it is available in.
Who therefore monitors that the gaming algorithms are “fair” ? That the “random” element is appropriately “random”. That there is no account “seeding” or “rigged summon portals”. As far as I know, no external party has the right to oversee this game’s summon algorithms.
And summons are the bread n butter for this type of games. Summons is the main revenue earner for this game. At least 75% or more of their monthly revenue, which is hovering around US$21m (averaged over last 13 months)
I am from Singapore. Gambling establishments are heavily regulated. I can’t even step foot in a casino in Singapore without paying an entrance fee per entry or without buying an annual subscription. The entry fee is S$100 per entry or S$2000 per year (it’s increased by now). If this game has a gambling licence, I wouldn’t download it cos I would have to pay to play it. And the SG government will be looking over my shoulder to see what I do in that game.
The closest I get to a “casino” for free are those slot rooms in private clubs. Those require a licence too, and are monitored.
The SG government has blocked Casino apps from operating in SG. They are not allowed to be hosted by Apple or Google playstores. Gamblers get their fix by either using VPN or some other access route.
So this game, while it has gambling aspects, more rather than less, doesn’t need a gambling licence to operate in Singapore. It’s in a very grey area. Skirting on the fringes. I don’t know if anyone has reported this game genre to the authorities, but it was in the news a few months ago. And the SG Government knows about the social ills associated with this game genre and is looking into this matter. What happens in the future is anybody’s guess.