{"id":6114,"date":"2018-11-19T23:40:27","date_gmt":"2018-11-19T23:40:27","guid":{"rendered":"https:\/\/esportbet.com\/?p=6114"},"modified":"2020-10-05T23:20:05","modified_gmt":"2020-10-06T03:20:05","slug":"the-real-effect-of-skins-betting-in-the-esports-industry","status":"publish","type":"post","link":"https:\/\/esportbet.com\/the-real-effect-of-skins-betting-in-the-esports-industry\/","title":{"rendered":"The real effect of skins betting in the esports industry"},"content":{"rendered":"

Skin betting remains a source of debate and confusion within the esports industry<\/a>.<\/p>\n

Some see it as a virus, others as a bit of harmless fun.<\/p>\n

Many looking in from the outside have only the vaguest idea of what it is and how it works.<\/p>\n

For those in the latter camp, skins are virtual goods that allow players to customise their character’s appearance within a game.<\/p>\n

The trading of these non-essential items came to prominence in Counter-Strike: Global Offensive<\/a>, which began offering weapon skins in 2013.<\/p>\n

Players started using the Steam Marketplace to buy and sell skins in exchange for virtual currency that could then be used to wager on esports matches<\/a> and games of chance.<\/p>\n

This led to serious concerns about the spread of underage gambling, especially in the United States gaming scene<\/a> before the PASPA laws were repealed earlier this year.<\/p>\n

Skin betting companies have sought to eliminate this underground trade with specialised cryptocurrencies such as Skincoin and SkinPay.<\/p>\n

As EbetFinder’s Mattias Fr\u00f6brant explained to Gambling Insider<\/em>, regulation and licensing have an important role to play in the legitimisation of skins gambling.<\/p>\n

“It’s important to know that there are two types of skin betting sites available,” he said.<\/p>\n

“On one hand, you have a certified and legal site that operates under a strict gambling legislation, and then you also have the rogue sites that are operating without any license.<\/p>\n

“The first ones make betting with skins possible, through trading skins for money through a deposit method called SkinPay.<\/p>\n

“This means you don’t really bet with the skins, but you have sold them for real money that can be wagered. <\/p>\n

“These sites have a gambling license and have strict rules they need to follow, which includes not letting underage people gamble. <\/p>\n

“If they did, they could receive a heavy fine or even lose their gambling license. <\/p>\n

“To prevent underage people from gambling, they have verification processes that every player has to go through at some point, which includes sending in a copy of your ID.”<\/p>\n\n\n