Valve’s Recent Actions and the Future of Skin Betting Sites
Last week, Valve made an announcement that seemed to signal the end of skin betting. However, despite this announcement, the major skin betting sites continue to operate. So why are they still around, and what will happen to them?
The Legal Gray Area and Potential Risks
Skin betting, which involves using in-game CS:GO decorations as currency for online gambling, has come under scrutiny for several reasons. These include the possibilities of underage gambling, online gambling in restricted jurisdictions, money laundering, match fixing, and scams.
Valve’s Response and the Cease-and-Desist Order
Valve’s initial announcement, called the “In-Game Item Trading Update,” seemed to indicate that skin betting was over. However, the major sites continued to operate. In response, Valve issued a cease-and-desist order to 23 of the largest skin-betting sites, but many of them have yet to acknowledge or comply with the order.
The Future of Skin Betting and the Skins Market
It is uncertain what will happen to the skin-betting industry and the market for skins. Some experts predict a decline in skin prices and a decrease in interest in low-mid tier CS:GO matches. However, the impact on premier events and regulated bookmakers remains to be seen.
Legal and Regulatory Challenges
There are questions about the legality of skin-betting sites and the potential for future regulation. Some experts believe that operating a skin betting site without the use of bots or automation could be a possible solution. However, opinions on the legal status of skin betting vary, and it is unclear how Valve will enforce their restrictions on third-party sites.