The Real Money Gaming Industry Defends Loot Boxes Against Gambling Claims. According to Wikipedia, a loot box is a ‘consumable virtual item which can be redeemed to receive a randomized selection of further virtual items as part of a video game. They are normally paid for or part of a game’s reward system, so they do have a perceived value. Depending on the particular video game, the rewards can range from a very low value to a very high one.
Why Does The Real Money Gaming Industry Defend Loot Boxes Against Gambling Claims?
In a recent editorial piece on Arstechnica.com by Peter Bright, he discussed the connection between loot boxes and gambling. While the gaming industry does not consider the addition of loot boxes in video games a direct form of gambling, more and more government legislators around the world are taking a much closer look at this practice from a gambling standpoint. The fact remains that game companies rely on loot boxes as a way to monetize their products. This is why they have gone on the defense to avoid any government interference into their addition to their products.
Mr. Bright goes on to make the argument that loot boxes are a form of gambling. He goes on to say, ”The essential features of the transaction match those of real money gambling, the reward pathways, and addiction mechanisms are those of gambling and playing dumb about it, as the industry is currently doing, is a bad look.” Earlier this year we covered “Washington State Wants To know Whether Loot Boxes Are Gambling ”
With Real Money Gambling There Is A Monetary Risk Unlike Loot Boxes?
When it comes to real money gambling such as slot machines, there is a clear monetary risk for a clear reward. You spend money to try and make money. Sometimes you win, but other times you lose. This is the risk/reward factor that defines the true essence of gambling. When actual monetary funds can be won and lost, it is considered to be real money gambling. This by its nature, can cause addictive behavior in certain individuals.
Trying To try Pass Off Loot Boxes As Parts Of Video Games?
The gaming industry may try and pass off loot boxes as part of a video game, but the fact that you can receive a reward for a monetary risk makes them no different than the same features included in slot machines, a roulette wheel or other games of chance.
Regulators in Belgium and the Netherlands have already classified loot boxes as a form of gambling. Since you are guaranteed to win something, game companies will argue that loot boxes are not a gambling device since something of value is exchanged for a price. This tends to be a very weak argument since many times the reward included in the loot box could be considered worthless as a consolation prize. Related News Articles:
Will The Real Money Gaming Industry Continue To Defends Loot Boxes Against Gambling Claims?
In a further explanation by Mr. Bright, multiple purchases of loot boxes within the same game will yield the same standard prize. You can only use one version of this prize in the game, so any multiple additions of the same exact prize carry no value for the player.
The other argument why loot boxes are not a form of real money gambling is that they cannot be exchanged for actual cash. The main hole in this argument is the simple fact that gaming companies charge real money cash for the loot box. Why not give them away as free rewards for playing the game.
Gaming Industry Defends Loot Boxes Against Gambling Claims | News
Real Money Gaming Industry Defends Loot Boxes Against Gambling Claims. According to Wikipedia, a loot box is a ‘consumable virtual item which can be redeemed to receive a randomized selection of further virtual items as part of a video game. They are normally paid for or part of a game’s reward system, so they do have a perceived value. Depending on the particular video game, the rewards can range from a very low value to a very high one.