Skins in The Game | Page 8

Lounge’s Final Days JULY 10 Accepts largest handle of 2016 on ESL One Cologne Final JULY 25 Promulgates new terms and conditions without publishing AUG 1 Restricts skin betting, vows to apply for gambling license AUG 15 Reported that parent company owns pro esports franchise SEPT AUG JULY SEPT 26 Launches coin-based, sportsbook-style betting on CS:GO matches AUG 16 Announces it is shutting down all skin betting immediately JULY 19 Appears in first Valve cease and desist letter JULY 29 Ignores 10-day window to comply with Valve’s C&D AUG 11 Trade bots reportedly banned/suspended by Valve 2016 An Ending Not On Its Terms Other Sites Attempted Workarounds Outside The US Unlike other skin betting sites, Lounge’s reaction to Valve’s C&D order stood out for its uniqueness, if not its inefficacy. While its steps were proactive, they failed to fully address Valve’s request and did not appear to consider the necessary preconditions for their achievement. Other skin gambling sites similarly attempted to avoid facilitating the conversion of skins to gambling currency, while still offering a gambling product The changes appeared more appropriate for a regulated esports cash betting product (which Lounge did not offer) as opposed to a skin betting product. In an updated set of terms and conditions announced on Aug. 1 and backdated to Jul. 25, Lounge said it would: • Ban users in 16 countries and five territories from skin betting, while continuing to offer the product in other countries • Apply for a gambling license in those 16 countries to offer skin betting • Develop a Self-Exclusion Responsible Gaming Policy by which users could have their accounts suspended for a minimum of six months • Require the additional use of traditional email and password log-ins for all users, including users accessing skins through their Steam account • Prohibit the use of Virtual Private Networks that allow players from banned countries to access betting features • Skin gambling sites CSGOStrong and CSGOCosmos, both named in Valve’s C&Ds, pivoted their business models in early August to no longer accept direct skin deposits. Instead, the sites outsourced the conversion of skins-to-digital-currency to Skntrades. Players would acquire coin for skins on Skntrades, then fund their balance on Strong or Cosmos directly with those coins, as opposed to skins. This relationship ostensibly added a layer of protection between the sites and any skins-to-currency conversion. By August, the websites for Strong, Cosmos and Skntrades were offline in the US, but this microsystem was still functioning in other parts of the world. • European bettors reported in August that CSGOFast, a casino-style skin gambling site that warned users in July it was suspending operations and shutting down its Steam trade bots, was actually continuing to allow players to fund accounts and place wagers. While US users were locked out of accessing the site at all, users elsewhere in the world looking to gamble on the site were funneled to a variety of account-funding options, including G2A Pay, the real-money payment arm of game marketplace G2A, as well as PayPal, Skrill, Webmoney and more. 5