Skin gambling and esports are reportedly becoming popular amongst teens and young adults in Finland, but these activities currently fall outside the scope of regulated gambling.
The action of using ‘skins’ in games to exchange, alongside other virtual goods, for virtual gambling chips is a new form of gambling that is becoming more prevalent.
A skin refers to a graphics download within a game which can change the appearance of a character. Typically, these are purchased with money that has been deposited. Now, there is a high demand for this feature which has led to the rise of an online currency to begin.
Helsinki Times have reported on this new rise, as they describe skin gambling betting with in-game cosmetic items rather than money having “quietly become popular among Finnish teens and young adults.”
Currently, the laws in this area treat skin gambling as being more of a lottery-like scheme which has caused experts to warn others about the related harms.
Esports reported to be another which is rising, as well as skin gambling in Finland
While Finland is seeing the rise in this area, it’s not exclusive to one country. A parent-focused website from the UK suggests “millions of pounds-worth are being gambled each year, much of it by children and young people.”
The publisher states “behavioral psychologists echo concerns that boundary-blurring between gaming and gambling fosters early addiction risks.”
This comes at a time when the gaming sector in Finland is undergoing a big transformation, with a draft bill having been submitted back in March which sets out a new style gambling market.
It’s reported that a new regulatory overhaul could prioritize protecting minors and vulnerable groups.
It’s not just this relatively new phenomenon that is gaining attention though, as the Helsinki Times goes on to state that “traditional esports betting is also rising sharply.
“Whether placing fixed-odds bets on CS:GO, Dota 2, or League of Legends, Finnish bettors are engaging in both pre-match and live wagering. With eSports events gaining mainstream attention, the betting ecosystem is expanding rapidly in Finland.”
Featured Image: AI-generated via Ideogram
