Skin betting will be sanctioned by the Norwegian Gaming Authority.
Norway.- As video game players are using a gambling modality named “skin betting,” the Norwegian Gaming Authority (NGA) will start controlling and sanctioning operators who offer these services. The modality refers to buying features for virtual games and trading them during the performance or in real life.
According to the current law, skin betting is part of gambling, which must be regulated by the national entity. The measure was taken following the example of the UK Gambling Commission (UKGC) that has been sanctioning unauthorised skin betting operators of video games and casino platforms.
“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,” stated the NGA.
Currently, Norway does not have a regulation on the issue, so the NGA is not able to deliver legal licenses for interested operators. The market is purely controlled by the state. “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,” assured the national authority.
And 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.”