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Two skins betting aficionados created a skins betting website which they marketed on their YouTube and other social media accounts, without disclosing the fact that they own the website.
Game items have been traded online since the early days of the internet and probably thousands of items have been bought and sold over eBay and other similar websites.
It can be said that skin betting became an integral part of the CSGO gaming scene as a whole. The cases contain guns, knives and other items but they can only be unlocked with keys.
Since Valve Steam offers a trading API, third party sites are able to organise large scale betting, and this is basically howskin betting came about.
CSGOLounge was the largest skins betting site. Often, up to 50, punters placed bets on a single CSGO match with the number of wagered items reaching up to , Skin betting is encourages punters to visit the Steam market and buy new items, and it also encourages them to play more so that they could acquire more items.
In other words, skin betting directly contributes to the popularity of the game. Those who defended Valve and the betting sites like CSGOLounge claimed that skins betting is in no way illegal, even in countries where conventional betting is, as there is no currency involved.
Skins betting proponents argued that skins are only assigned value within the game and are otherwise useless outside of it. In the summer of CSGOLounge company announced that it will no longer be a betting platform for punters from countries that prohibit esports betting.
With this decision, the site admitted that skins betting actually classifies as betting. Furthermore, the company also announced its plans to register as a legitimate esports betting site , where punters would be able to deposit and wager real money on CSGO and other esports tournaments.
This decision of CSGOLounge followed the report issued by Valve earlier that summer in which the company pledged to stop skin betting.
Valve finally admitted that skins betting is not regulated and urged all third-party websites to stop using its API for providing betting purposes, claiming that all those who continue to do so are violating the terms of service.
This U-turn by Valve confused many of the third party websites that offered skin betting, but most of them chose to comply with the recommendations, fearing legal consequences.
Despite the fact that CSGOLounge initially decided to limit skins betting and prevent only punters from certain countries from engaging in skin betting, only two weeks later CSGOLounge issued another statement.
The new statement declared that the company ceases to offer skins betting to all customers with immediate effect. Most punters were quite surprised the decision and there have been suggestions that this was a result of increased pressure from Valve.
The same operator owned another skin betting website called Dota2Lounge which offered similar services to Dota 2 fans, and that site was also closed on the same date.
Many argue that this was the effective end of skins betting as CSGOLounge was by far the most popular skin betting site.
Association with match rigging and the fact that there were no strict age controls seem to have made a negative impact on skin betting which caused the closure of the most popular websites.
There are still sites which offer skins betting, but it has to be said that its popularity has definitely decreased. A return of skin betting cannot be ruled out, but it is clear that if skin betting is to become popular again, the authorities will certainly take measures beforehand and the market will be regulated.
Read more here. Terms apply. In order to do this, in the right upper corner of the homepage of CSGOlounge's site you need to find the orange "Sign up" button and click on it.
A little to the left of the "Sign up" button you can find a language section. Click on it and you will see all the language options. The online platform also has a functional top menu.
Without signing in onto the website you can use only one of them, the "Search". Go to this inlay if you are interested in using it, fill out "I have" and "I want" areas, and click on the orange "Search trades" button.