There's a debate raging in video games over whether loot boxes should be classified as gambling
There's a debate raging over whether in-game loot boxes encourage kids to gamble.
Experts are divided over whether paying for loot boxes has a causal link to gambling and one told Business Insider it could be "apocalyptically stupid" to regulate loot boxes like gambling without doing more research.The video game industry might have a fight on its hands as the UK looks poised to reclassify a popular game mechanic as gambling.on the harms of gambling, which found that in the UK there are 55,000 problem gamblers aged between 11 and 15.
In some games, players are able to trade the rewards they get from loot boxes with each other for real money. Loot boxes and this accompanying practice of trading items are collectively known as "microtransactions." In 2018 a report from analysts atfound microtransactions generated $30 billion in sales for gaming firms or apps, and projected that the industry could be worth $50 billion by 2022.
"Problem gambling is characterized by uncontrolled excessive spending on gambling. Loot boxes share many similarities with gambling. It therefore makes sense that this uncontrolled spending may transfer to loot boxes too," he wrote."We're really only in the early phases of gathering scientific research evidence about the nature of loot box effects," Professor Pete Etchells, a psychologist specializing in video games at Bath Spa University, told Business Insider.
Przybylski also said that blanket regulation of video games with loot box mechanics as gambling would be "apocalyptically stupid," as this would essentially mean slapping an 18+ label on a wide range of games aimed at children, such as "Fortnite" and "FIFA."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chris Avellone, famed video game designer, accused of sexual assault - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Ferrari F8 Spider convertible: Business Insider review, photos - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Ready to Watch More Theatrical Releases From Home? How COVID-19 Could Spark a Tectonic Shift to Premium VODAs even the year's most anticipated films face uncertainty at the box office, studios are exploring if premium video-on-demand releases could be the new business model.
Read more »
Judi Dench: TikTok viral videos have 'saved my life' during quarantine - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
What is a business credit score? - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Ex-Deliveroo exec Dan Warne on launching a food business amid COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »