It was around last year that there was much discussion about online video games and the concept of loot boxes. More and more lawmakers thought that this was a gateway to a gambling addiction in a lot of young players.
This is what AZ Congress Watch will be focusing on today.
What is a Loot Box?
A loot box is basically something that gamers can pay either in-game currency or real currency to get a digital box with a set number of items within. The degree of rarity or usefulness of the items in the box vary and are completely random.
Ties with Gambling
In this general sense, this is like someone buying a scratch card without ever knowing if they’re going to win a prize or not. The trick is that they keep trying anyway. There are many video games out there wherein gamers of various ages are exposed to this concept.
Now, at the start, this wasn’t really a problem. Most thought it was a harmless thing. It wasn’t until video game companies like EA were raking in massive money due to the fact that more and more players were buying loot boxes for the chance to obtain better in-game stuff that comparisons to gambling were made.
Now, more and more lawmakers in both the US and the EU are really cracking down on loot boxes. Based on the definition alone, it was quite clear that as there was no way to really know what you’re getting for your money, it was luck based—something that gambling has been described to be.
Now, it is only a matter of time before loot boxes are either shut down in its entirety or video games that have loot boxes are treated as gambling and will need to be taxed accordingly. What’s your opinion regarding loot boxes and the concept of gambling?