Skin betting on esports in 2023: what a punter needs to know

It's hard to say exactly when skins appeared in esports games, but it's hard to deny that in 2023 they have a huge impact on the industry. Skins are shaping entire markets within the esports ecosystem and the betting on esports market is one of them.

Betting skins sounds very simple, but in reality this line of business has its pitfalls. If you were looking for comprehensive information about skin gambling in 2023, you have come to the right place. We will cover everything you need to decide whether you need to bet with skins or it is easier to look for an alternative.

Skins from which games are popular for betting

In the year 2023, it would be surprising not to encounter cosmetic content in games. The weight of skins is so impressive that they are literally everywhere: from city-building simulators, to fantasy RPGs, to MOBA games, to shooters and MMOs. Not all of them are equally suitable for betting, though.

As with anything, skin betting has its winners and losers. Some disciplines are more suitable for gambling than others.

Perhaps the most popular category for skin betting remains CSGO. All because of the huge range of skins in the game itself and the significant influence of skins on the ecosystem of Valve's competitive shooter.

Another Valve brainchild is also popular in the skin betting realm. Dota 2 also boasts a massive amount of skins for betting, but not as developed a market due to the rules for transferring and trading in-game items, which CSGO does not have.

In general, skin betting is possible in almost any game that has it. As long as the rules for exchanging and transferring skins in those games allow it.

Why to bet with skins in 2023

The most trivial thing is to raise the level of adrenaline in the blood. If that's not The International for you, there are more practical reasons to gamble on skins.

This is, for example, the opportunity to acquire new things in the inventory to show off in front of teammates and cause envy among enemies in online matches or the ability to convert skins into real money, Some platforms allow you to exchange skins for real money, charging for it is not a small percentage. It is often higher than on Steam Market, but the withdrawal is possible to bank maps or online wallets, and in the Valve shop such a function is absent.

How to bet with skins

The process of betting with skins is not revolutionary. It is quite simple and straightforward, but there are a few things that are definitely worth highlighting:

• Skin betting is only possible on third-party sites outside of Steam. The platform from Valve prohibits commercial manipulation of skins.
• To bet with skins, you must give access to your inventory in Steam.
• Some sites require access to personal data of users. This can lead to the theft of accounts.

As you may have realised, betting with skins is a very risky venture. This is because this industry is either poorly regulated or not regulated at all. What to say, if Valve themselves prohibit commercial manipulations with skins on CSGO and not only, which was mentioned separately in one of the blogs.

Nevertheless, there are legal aspects of skin betting. Let's talk about them in detail.

Legal aspects of skin betting

As you have already guessed, betting on skins is not exactly legal. Many sites engaged in this practice do not have licences.

In addition, in most countries of the world, this practice is prohibited. All this is due to the inability to regulate this market and the harsh laws regarding gambling in some states. Many of them are equated with gambling, as the procedure for mining these skins, that is, opening cases - a random thing.

Another aspect that prevents the widespread distribution of bets on skins - the policy of Valve. And here we are talking about the commercial component of betting on skins.

Initially Valve created them for trading on Steam Market, Valve's internal trading platform, but as skins developed and spread, there were many sites that bypassed Steam Market. In essence, the sites were trading skins bypassing Valve, which obviously didn't suit the company that owns the rights to ALL cosmetic items on Steam. One day, Valve had to intervene in the betting market, resulting in one of the most massive blockades of skin exchanges and illegal betting sites in the history of skin gambling.

We're talking about the case of Lounge sites, Dotalounge and Csgolounge, which allow you to bet on professional matches with skins and also exchange them. Valve demanded the closure of these sites in 2016, otherwise the owners were threatened with lawsuits without much prospect of winning. As a result, Dotalounge, Csgolounge and dozens of similar sites disappeared, and the owners of other sites began looking for an opportunity to operate legally.

They found it on the Isle of Man. The local licence allowed gambling activities not only in the UK, but also in other countries.

In general, if the site has a licence of the Isle of Man - it only adds to its prestige and the chance of being cheated when using such a site is lower than on sites without a licence.

Pros and cons of betting with skins in 2023

Having talked about the main aspects of skin betting in 2023, we can highlight the main pros and cons of this market. The latter are clearly more numerous.

Minuses:

• A large number of illegal betting sites.
• Inability to protect your skins.
• Access to your personal information from third parties.
• Commission when converting skins into money

Pros:

• Alternative to betting with money.
• Ability to convert won skins into real money.

Skin betting, like any other gambling option, is always a risk. We recommend approaching them with a cool head. Take care of yourself and your money.