In the same week that the UKGC released a whitepaper on the same topic, it has been revealed that the Norwegian Gaming Authority (NGA) now official recognises skins betting as gambling. As such it will look into cracking down on operators that offer it.
As reported by the excellent Esports Betting Report, according to the current law in Norway, skin betting is now seen as a part of gambling and as such must be regulated.
The NGA stated: “Skins can normally not be exchanged for cash, but it is possible to take the skins out of the game and of other markets for buying and selling. There are separate online casinos where you can bet and win skins, and in such cases, skins a virtual currency that can be used for gambling. We have seen several examples of Norwegian children and young people who have spent thousands of money from this.”
As it stands, and like much of the rest of the world, Norway does not have a specific regulation where skins betting is concerned. It follows the likes of the UKGC, the Malta Gaming Authority, and regulators in the Isle of Man and the Netherlands in either taking a stance on and or investigating skin betting.
The NGA post continued: “A gaming site that allows betting and pays out prizes in skins is in our view an online casino, and in Norway, only Norsk Tipping is allowed to offer online casino.”
It concluded: “Stopping illegal betting has always been a priority at the Gaming Board, especially where games offer is aimed at children and young people. We will therefore examine the issues surrounding gambling with skins, and consider sanctions against operators who offer this in Norway.”
Esports Insider says: There needs to be regulations imposed on skin betting sooner rather than later. The likes of the UKGC, the Isle of Man Commission and the Malta Gaming Authority have led the way so far and it’s positive to see other regulatory bodies such as the NGA getting involved and being proactive.