Loot boxes are the current rage in the world of online gaming. Successful developers incorporate this loophole mechanism to attract more players who are fascinated by the idea of Loot boxes which provides exciting rewards and gifts within the interface of the game to increase their chances at winning it.
Loot Boxes - The Controversy
The ensuing controversy regarding whether loot boxes fall under the purview of gambling has been continuing for a long time and become a big problem for millennials. The factor of how one can win these loot boxes falls under the spotlight while discussing the gambling aspect of Loot Boxes. Loot boxes can be bought by paying actual money and transferring the credit into virtual money which can be used to spin or try the player’s luck in an all-or-nothing bet where the player may or may not luckily unlock a Loot Box.
But most of the time the players end up with exciting rewards which increases their chances of going further in the game. The question of whether Loot Boxes are gambling or not has confused quite many review boards and gambling commissions. The review board repost dictated on the matter of loot boxes while they fall under the technicality of gambling but yet it cannot be taxed under the same idea. The United Kingdom Gambling Commission also does not agree with the idea of loot boxes being gambling mechanisms but recognizes how it can soon become one with its assured prices in exchange for real money.
Loot boxes allow the player the golden opportunity (at the cost of their own money) means of progressing in the game by unlocking small bonuses and this tactic has been taken up by many developers looking to promote their gaming interface by attracting players under the garb of exciting loot boxes being up for grabs while playing the game. One of the major reasons for the loot box controversy stands in the fact that the world of video gaming and gambling gets closely intertwined making it hard to differentiate between the two. But international developers have seen a steady boost at the reception of their newly launched games which skyrockets when the loot box mechanism is available. They are set to bring a whopping revenue of $35 billion by the end loot box of 2022) according to independent research)
Is it Gambling? - Perspectives
But this debate has not reached its fruition- causing some countries in Europe to impose gambling appropriate stringent rules on the presence of loot boxes in video games. But the other countries in the union don’t seem too eager to catch up to this trend where developers and players enjoy mutual agreement on the presence of loot boxes in video games which makes and keeps the game more thrilling and exciting.
It is easy to see why the loot box controversy has stirred the sentiments of the gambling community. Where players can win benefits (payouts) by depositing even a one-dollar payment to get free promotions and unlocking benefits as a result. It introduces the concept of real money to the world of video games starting in the loot box controversy. Players and developers are awaiting the revised and abiding gambling rules set and whether loot boxes shall remain as a grey area between video gaming and online gambling.
Some independent studies have found how loot boxes may trigger similar responses to gambling by quoting, “while the relationship between loot boxes, problem video gaming, and problem gambling is still in need of further investigation, the consequences of such potential associations have profound implications for the future regulation of these and similar features in games.”
Yet the controversy has not stopped developers from incorporating loot boxes to make their games more exciting and trending. Infect, the concept of loot boxes is available across platforms – including mobile applications where players can unlock the great bonus within seconds by logging on to the mobile app and still being eligible for the loot box bonuses.
So, one may say there is no concluding answer to the question of whether loot boxes should be considered gambling or not. While a certain party of players may feel so, the majority of players and developers are in favour of the loot box which increases their popularity while motivating players to continue playing new video games.