The massive debate around classifying loot boxes as either a form of gambling or gaming is quite evident, and people are having a hard time coming to a conclusion. Due to that, we are going to dig deeper into the activity and discover the results that you have all been waiting for. As each division brings forward a new concept, an examination will be a part of the process, along with the outcome that it promises. So without further ado, here’s what you need to know.
Loot boxes work in a specific manner by involving currencies that either tends to be in-game or real money. Due to that, the rewards will be randomized, which is quite similar to several gambling games that already exist. As far as the outcome is concerned, the reward or gift might be a new form of clothing for your game character that does not necessarily give you an edge over other players. Due to that, it also has elements that are not commonly associated with the gambling industry because the bonuses and specific odds tend to provide an edge.
The Aspect of Trading
The story of rewards does not end with that climax because loot boxes also have something additional to offer. Players have discovered that the rewards can be traded with each other for real money. This discovery brings loot boxes closer to the monetary aspects that have already been a massive part of gambling. As a result, the definition tends to go back and forth with similarities and differences. So when you examine the same, you will realize why both parties have not been able to conclude.
Another exciting aspect of loot boxes comes from players or individuals who tend to find the game exciting. These players are not beginners in the world of gambling, rather gamblers who have had their very own experience with gambling. While we do not deny the presence of beginners, the majority tend to be experts who are here to test and play the game. If gamblers should come in and try such games, then similarities need to be the main reason. As a result, classifying the same to be gambling is entirely meaningful.
Moreover, the report submitted by the House of Lords on the 3rd of September, 2020 states its results as valid findings in order to classify loot boxes as tools for gambling. To be precise, they will recommend the government to classify the game under the remit 2005 Gambling Act of the UK. So when you consider the same and look into the points mentioned above, you can come to a conclusion that classified loot boxes as gambling.