iGaming Industry
Live Casino Comparer: 60% of British Public Think Loot Boxes Should be Regulated as Gambling
LONDON, January 12, 2018 – Video game manufacturers are persistently facing criticism on account of loot boxes, which contain randomised prizes and can be bought with real money to be used within games. As per a survey by Live Casino Comparer the percentage of British people who cling to the belief that loot boxes should be regulated as gambling adds up to 60.
The very inception of this disputation over loot boxes goes back to Belgian and Dutch gambling regulators who initially looked into the idea that loot boxes should be classified as gambling.
Which was followed by the Hawaiian state representative Chris Lee, a damning critique of loot boxes who released a video on YouTube. Emphasizing on the loot boxes in 2017 video game Star Wars: Battlefront II, Lee expressed his anger towards a “Star Wars-themed online casino designed to lure kids into spending money.”
In response to the affair, Apple recently changed the rules on its app store with regards to loot boxes.
Vulnerable young people
Neil Walker, the gambling expert who conducted the survey of over 1000 British people, condemns the “gambling loopholes” that allow loot boxes to exist. “Vulnerable young people are being introduced to gambling in a way that provides them with no protection or support.”
The Gambling Commission has also recently expressed concerns about the amount of exposure to gambling that young people are facing. Its research on the issue states that 80% of 11–16 year olds have seen gambling advertised on TV. What’s more, 12% of 11–16 year olds have gambled in the last week.
However, with regards to loot boxes, Walker worries that this figure could potentially be “a lot higher”. He also blames the Government for its double standards on tackling the issue. “Large fines have been levied by the UK Gambling Commission for misleading advertising, yet nothing is being done to regulate gambling purchases in video games in the UK.”
Despite increasing pressure to regulate loot boxes as gambling, from both officials and the public, the stance of authorities in the UK and the US is that loot boxes do not constitute as gambling because players do get some kind of reward.
Walker believes that this is missing the point. “Politicians are out of touch with what the public wants. Of course, loot boxes count as gambling. The time to act is now.”
This is not the first time that the question of whether or not loot boxes count as gambling has been raised. In 2012, a predatory scheme similar to loot boxes in Japanese games was declared illegal by the government. Kompu gacha was an in-game mechanism which involved encouraging players to pay a little bit of money for a randomised prize. Most of these prizes were small, but some were worth much more.
Shocking similarities
As with kompu gacha, the concern with Star Wars: Battlefront II is the way in which its loot boxes so closely mimic a casino. One minigame even involves a slot machine and, according to journalist Zaid Jilani, it is not uncommon for players to treat the loot boxes in Star Wars: Battlefront II like a slot machine. “A loot box costs between 83 cents and $1.80, and it’s not uncommon for a player to buy dozens and dozens of boxes in an attempt to unlock a particular character or capability.”
Walker calls these similarities “shocking”, as he had previously assumed that loot boxes were regulated as gambling. “As someone who has worked in the iGaming industry for years, I had long thought that loot boxes counted as gambling in the same way that blackjack or a slot machine would.”
“There are children growing up right now who’s first exposure to gambling is through loot boxes. We need to make sure that video games are held accountable in the same way casinos are.”
For more information about Neil Walker, please visit www.livecasinocomparer.com
About Live Casino Comparer
Live Casino Comparer is an online casino comparison and gambling news website run by gambling expert Neil Walker. Each article is written by Neil, who specialises in analyses of different online live casinos. The website also features reviews, insight, and updates from across the casino industry.
SOURCE Live Casino Comparer
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Source: EEGaming.
Alejandro Navarro
Betski Secures $345,000 in Pre-Seed Funding for First-ever Tokenized Casino Ownership Platform
Betski is set to launch its online casino ownership platform in Q1 of 2025, enabling users to earn casino profits through digital tokens. The system will allow anyone to receive a share of casino earnings without managing casino operations, marking a new chapter in the multi-billion-dollar iGaming industry. Supported by a $345,000 pre-seed funding round, the platform aims to democratize access to casino earnings and reshape the multi-billion-dollar gaming industry.
Opening Casino Ownership to Everyone
The platform’s tokenization system reshapes traditional casino business rules through an automatic profit-sharing program. Token holders receive a percentage of every bet placed on the platform.
This system eliminates steep entry costs, such as operational expenses, licensing fees, and administrative management. Users can start earning returns without previous casino experience or large capital investments.
“A small group have exclusively enjoyed casino industry profits until now. Our platform opens these earnings to everyone through our tokenized profit-sharing system, turning users into online casino owners,” said Alejandro Navarro, founder and CEO of Betski.
Direct Profit-Sharing Through Tokens
Through a verified digital system, the ownership program distributes Gross Gaming Revenue (GGR) among token holders. Investors have recognized this potential, contributing $345,000 in pre-seed funding that combines gaming entertainment with digital asset ownership. The platform maintains strict security protocols and automated distribution systems for reliable profit sharing.
“The platform distributes real money to token holders from every bet placed by players. This creates a steady income stream for online casino owners – something the traditional casino structure has never offered,” said Navarro.
Global Growth of Online Casino Ownership
The platform has attracted 2400 active Discord members and over 20,000 followers on X (formerly Twitter). These early adopters are expected to participate in test runs of the profit-sharing system once it goes live. Over the next 24 months, the platform will roll out first in Latin America, followed by expansion into European and select Asian markets.
Betski offers casino games, live casino experiences, eSports betting, global lotteries, fantasy sports, and traditional sportsbooks. This variety creates multiple revenue streams for online casino owners. Players can access all gaming options through a single interface, which streamlines the betting experience and maximizes potential returns for token holders.
The team has partnered with major payment processors and marketing agencies to support the platform’s global expansion. These collaborations will facilitate smooth transactions and user acquisition across different regions. The platform meets all regulatory requirements in its target markets, certifying long-term stability for token holders.
New Opportunities for Investment
Following the successful pre-seed round, Betski is now opening its seed funding round to welcome additional participants into its casino ownership platform. This investment opportunity enables individuals and entities to join the platform’s growth journey ahead of its official launch in Q1 2025.
Bradley Khoury
eCOGRA Approved to Operate in Arizona, Indiana and Panama
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct
BetConstruct to Showcase Latest Innovations at G2E Las Vegas 2024
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
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