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400,000 British teens lured into under-aged gambling through video games, investigation reveals

Children are gambling video game winnings for cash  He ended up winning £750 but he’s really addicted to it,” he said. Another boy, 13, said: “You can lose loads of money on [the gambling websites]. It’s basically just gambling, they just cover it up…cos you use the skins instead of currency.” A boy, 13, said: “I’ve got my own bank account so whatever money is in there [my parents] don’t really ask – I just spend it. There’s loads of £2/£3 micro-transactions that I do all the time...They know that I’m spending it, just they don’t know what on.” It’s basically just gambling, they just cover it up…cos you use the skins instead of currency. Skins, so called because they modify the appearance of in-game objects such as guns and characters, can be bought or earned on Steam, a widely-used gaming platform that lets users trade them to each other for a dollar or sterling value which can be used to buy more skins or other games.  That balance cannot be withdrawn, but unaffiliated websites – sometimes falsely branded with Steam’s logo and with lax checks on age – let users wager their skins on virtual casino games or professional video game matches and cash out the proceeds. Mr Milton said: “Steam has an anything goes policy. It allows sites to connect code so that skins can be transferred out. Steam says it’s the third party’s fault and has issued cease and desist orders but it is not doing enough.” Lauren Foye, of Juniper market analysts, said new measures by Steam’s owner Valve, including a seven-day freeze on trading new items, had shrunk the value of skins gambled from £3.7bn in 2016 to £316m in 2017. But she said many sites easily adapted to the new rules and that Valve itself had paved the way for them by creating the skins market in the first place: “Steam is gaining up to 5 per cent commission per item traded. It’s a considerable market for them, which is why they’re not really cracking down on it.” At a glance | Protecting children from gambling-related harm Most of the virtual items traded on Steam and other games come from “loot boxes”, digital reward packages bought for real money. They are banned in Belgium and regulated in China and Japan because their unpredictable rewards make them addictive like slot machines.

For the original version including any supplementary images or video, visit https://www.telegraph.co.uk/news/2018/06/28/400000-british-teens-lured-under-aged-gambling-video-games-investigation/

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