What Problems Are Hidden Behind Loot Boxes?
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There are similarities between gambling and video games. The key similarity between the two is loot boxes. Loot boxes in video game are consumable virtual items that can be redeemed for receiving a randomized selection of loot or virtual things.
Loot boxes are a type of microtransactions used in video games. They generate around $30 billion in sales for application and gaming companies. Loot boxes also play a part in the online gambling industry.
Loot boxes are addictive and not suitable for self-excluded users. They do not require parental supervision. They are not available for those who want to restrict their gambling tendencies.
Loot boxes are addictive and not suitable for self-excluded users. They do not require parental supervision. Problem gamblers registered under self exclusion might choose any online casino bonus offered by the best casinos.
The global gambling market is expected to grow at a 12% CAGR from $64.13 billion in 2020 to $72.02 billion by the end of 2021. In video games and online gambling platforms, gamblers receive virtual rewards. The FIFA games from Electronic Arts offer loot boxes for players that can be obtained by real money investment.
Star Wars Battlefront II was released in 2017. It is compatible with Xbox One, Playstation 4 and Windows. FIFA games from the same series offer loot boxes. There have been recent controversies regarding them.
There are problems with loot boxes in video games. UKGC is considering whether to exclude loot box from online gambling and video game via the gambling laws. Up to 40% of children open lootboxes while playing videogames. Children tend to use lootbox more often due to their young age and lower education. 5% gamers generate half the revenue from loot chests. High rollers at online casinos spend more than $100 a month on loot cards.
Up to 40% of children open loot boxes while playing video games. About 5% generate around half the revenue from loot box sales.
58% of the top video games on Google Pay offer loot boxes. 59% of top iOS video game contain lootboxes. Steam store contains loot box in around 36% top games.
