Skins Betting Continues Despite Efforts
ESPN reports that about $5 billion was bet in “skins” betting on the eSport Counter-Strike: Global Offensive in 2016, despite efforts to stop the practice. Valve, makers of the game has been trying to slow down the betting which is largely unregulated.
Despite efforts by game maker Valve, shins betting on Counter Strike: Global Offensive totaled about $5 billion last year according to a report by ESPN.
The ESPN report focused on the culture around the game, including the gambling which is almost complete unregulated and often involves underage players. Skins betting is the wagering of special items—such as weapons—within the game which can also be traded for money.
Valve, the make of the game, has tried to curb the betting on both its own Steam platform for the online game and other sites that use their software. The Washington State Gambling Commission has also ordered Valve to stop facilitating the use of skins as gambling currency on its portals.
Despite that, ESPN cited research from Eilers & Krejcik Gaming and Narus Advisors that about 40 percent of the wagering were made on eSports matches and tournaments. The remaining about $3 billion is funneled into more traditional online gambling sites, the report said.