My daughter is playing several of those games such as Roblox on her iPad; she can't install new applications of buy credits without me entering the password in the apple store.
The cool part of doing that is that I ask her to convince me why she needs those credits, what she will use them for, doing that I can understand what she does in the game and see if it fit her. Another side of those games is that they have a social side and you can interact with other kids, so it's important to know that and make sure your kid understands that not everybody can be nice on a social network.
In the end, I don't understand a parent that gives that power to their children...