Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
September 18, 2019
arrowPress Releases







If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Around $5B in  Counter-Strike  skins were wagered in 2016

Around $5B in Counter-Strike skins were wagered in 2016

January 23, 2017 | By Alissa McAloon

January 23, 2017 | By Alissa McAloon
Comments
    1 comments
More: Console/PC, Social/Online



Despite efforts from both Valve and legal entities to slow the momentum of online gambling sites that revolve around betting Counter-Strke: Global Offensive skins, nearly $5 billion was wagered on skins in 2016 alone—according to a recent ESPN feature.

The ESPN piece is a powerful breakdown of both the history and ongoing ethical issues surrounding the illicit Counter-Strike online gambling world, all of which is made more striking by the sheer amount of money that continues to circulate through numerous betting sites.

The feature cites research from Eilers & Krejcik Gaming and Narus Advisors that states about 40 percent of the $5 billion worth of skins wagered last year were bet on the outcomes of eSports matches and tournaments.

The remainder of the bets, roughly $3 billion, are funneled into more traditional online gambling sites that accept wagers on slots, roulette games, dice rolls, or coin flips. 

The story alleges that Valve’s open API is largely responsible for the ease at which children are able to participate in these online gambling sites that substitute betting chips for Counter-Strike skins. A similar sentiment has been shared by the Washington State Gambling Commission in the past, which ordered Valve to stop facilitating the use of skins as gambling currency.

Valve itself has said it has taken steps in the past to discourage such gambling activities, including disabling Steam accounts known to associate with such websites and sending out cease and desist letters to many known betting sites, but for the most part the company maintains that it has no relationship with the sites that profit off of unregulated Counter-Strike skin trading. 



Related Jobs

Deep Silver Volition
Deep Silver Volition — Champaign, Illinois, United States
[09.17.19]

Project Manager
Deep Silver Volition
Deep Silver Volition — Champaign, Illinois, United States
[09.17.19]

Outsourcing Manager
Deep Silver Volition
Deep Silver Volition — Champaign, Illinois, United States
[09.17.19]

Environment Artist
Hyperkinetic Studios
Hyperkinetic Studios — Los Angeles, CA, California, United States
[09.16.19]

Lead Environment Artist - Los Angeles









Loading Comments

loader image