UK gambling regulators intend to take a closer look at new gambling products such as eSports skin betting and the role of digital currencies like Bitcoin.
On Tuesday, the UK Gambling Commission (UKGC) issued its annual report, in which CEO Sarah Harrison – who assumed the reins of power last year – laid out the UKGC’s upcoming priorities, including the warning that “a further area for continuing future focus will be on emerging products and digital currencies.”
While Harrison offered no details on the UKGC’s digital currencies concerns, she said eSports “has scope to present issues for regulation and player protection.” In addition to real money eSports betting markets, Harrison singled out “trading in-game items which blur the lines between gambling and social gaming.” Harrison said the UKGC would engage with stakeholders to minimize the risks these new products pose “particularly to children and young people.”
Skin betting has been plunged into disrepute in recent weeks following revelations that eSports stars had been publicly promoting betting sites without disclosing their ownership of the same sites. Other sites stand accused of rigging the outcome of sponsored players’ skin betting activity to give other players the illusion of higher win rates.