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Steam Getting Tough On Gambling Skins

Thursday, July 14, 2016 : E-SPORT PROVIDER LOWERS THE BOOM ON SKIN GAMBLING (Update)
 
Valve says that its Steam subsidiary will not facilitate gambling on skins.
 
After over a week of intense criticism, the threat of legal actions and a boycott by one developer, eSports provider Valve has finally responded to a skin gambling scandal by warning  that its marketplace subsidiary Steam will not allow itself to be used as a vehicle for skin gambling by third party operators.
 
According to ESPN, Valve has identified third party sites that it considers are in violation of its anti-gambling stance and is currently writing to the operators concerned warning them to cease such operations via Steam under pain of possible legal or other action.
 
Valve is facing two lawsuits in Connecticut and Florida, alleging that the company knowingly and willingly allowed gambling sites to operate unregulated gambling markets
 
Valve claims that it has no business affiliation with any of the sites which are alleged to be offering gambling via cashable skins, and say that it has not profited in any manner from their earnings.
 
"According to insight and analytics company Narus Advisors, over $7.4 billion will be wagered annually through the Counter-Strike and Dota gambling and betting industries by the end of 2016, based off trends from previous years.
 
“A total of $3.3 billion of that is through sports books, such as popular site CSGO Lounge, $1.9 billion via lottery sites, such as CSGO Lotto and CSGO Diamonds, and the remaining amount throughout other types of "skin" gambling," ESPN reports.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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