Loot boxes are a popular form of microtransactions when it comes to video games and also is said to be an excuse to add gambling to gaming for children. This is because they actually met the criteria for gambling in a lot of cases. Let’s take a closer look at this whole situation and get into the nitty gritty of it.
What Is A Loot Box
A loot box is like a little treasure chest, and you never know what is inside when you buy it. It can have all sorts of rewards in it from avatar items to change your appearance to weapons or armor to help you along.
Are loot boxes like gambling?
It’s normal for video games to want to make money and to have extra ways to do it. There’s nothing wrong with that at all. The problem is that they can be a terribly unhealthy strategy to try and make money. It can affect children and teenagers in the wrong way.
When it comes to the rewards within loot boxes that can be worth a ton and priceless in a game or they can end up holding nothing but trash. That makes it a bit of a gamble and here is the problem. It is all up to chance, and sometimes what you win can even be cashed it for real money.
If you spend money from the real world on virtual items that have a chance to be good or bad, it is very similar overall to gambling.
There are five strong criteria to help you decide whether or not if it is gambling. To be close to gambling loot boxes have to involve:
– an exchange of money or valuable goods takes place
– an unknown future event determines the exchange
– a chance at least partly determining the outcome
– non-participation avoiding incurring losses
– winners are gaining at the sole expense of losers.
If you count “winning” as the item helping in game, then you can put these to the idea of loot boxes. Many loot boxes meet these criteria that categorize them ultimately as gambling. Being able to sell virtual items for real money is probably the biggest problem. That’s selling nothing for something and can keep people spending money in risky ways. This can cause people or teens to overspend on loot boxes.