Is CSGO skin gambling safe?

Anybody who has enjoyed taking bets on CSGO will know how there has been something of a CSGO skin gambling scandal in the past few years.

Although skin gambling has affected betting on games as far-ranging as Dota 2 and FIFA, there is little doubt CSGO skin gambling has damaged the reputation of taking a few fun bets on this iconic first-person shooter.

So we are going to take a closer look at this phenomenon to find out more about what’s led to the emergence of the CS GO skin gambler. We’ll be asking questions such as is skin gambling legal and does it provide you with a safe way to bet on this classic esports.

And with a few pointers on some alternatives to CSGO skin gambling, you should have everything you need to know whether you should give skin gambling a go, or whether you should avoid it.

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What is CSGO skin gambling?

counter-strike-weapons-skins

Being a CS GO skin gambler means that you use virtual goods to bet on the outcome of CSGO matches. So that whether you are using a popular skin like the StatTrak AK-47 to bet on the outright winner of one of the best CSGO tournaments, or are using a gut knife as currency to bet on the fortunes of the best CSGO teams, it all acts as an alternative to betting with real money.

As a result, we have seen skin gambling become hugely popular with hundreds of thousands of CS GO skin gamblers.
They are using independent skin gambling websites to win or lose these virtual goods that have a real-world value.

The skin gambling phenomenon has also helped boost the revenues of many of the best CSGO players who make profits from the in-game sales of virtual stickers that can be used as betting items. But this hasn’t stopped many traditional betting fans becoming CS GO skin gamblers, and so there remains a few questions about whether skin gambling will replace esports betting with real money.

What are the most popular CSGO gambling games?

There are quite a few CSGO gambling games available to you. However, not all of them are so profitable hence why we will provide you with the ones that will set you up for success.

A lot of you are wondering what is CSGO gambling. Without further ado, here are the most popular games to bet your skins on:

  • Match Betting
  • Skin Jackpot
  • Roulette
  • Coinflip

Match Betting

If we are looking at the question of what is CSGO gambling, we can state that match betting should be classified as a form of gambling.

In 2020, there are a lot of CSGO betting sites that are providing CSGO betting odds on all tournaments and leagues. On top of that, there are three options available to you: pre-match betting, live betting and outright betting.

Alongside skin betting, you can also use various other deposit options such as credit cards, e-wallets and cryptocurrencies.

Skin Jackpot

This is by far the most popular skin gambling method out there. A lot of people used this method in order to bank themselves huge profits.

For instance, people were placing keys that are worth around $2 in order to win a total jackpot of $1000. Even though this gave them a shallow chance of winning, sometimes gamblers get lucky and this is what happens.

Roulette

There is not much to say about roulette. Truth be told, most sites ripped off other casinos. However, they made slight adjustments in order to make it more appealing towards the CSGO community.

The most usual bet on this game is red/black/green. In certain scenarios, red will represent CT-side while black will represent T-side. Lastly, C4 or defuse kit will show up as green.

As for the payouts. Black and red will double your stake. If you land green, you are in the money. Most sites will multiply your stake by 14.

All in all, roulette is a fun way to gamble, but from our perspective, it is not the most profitable one as this is the game of chance.

Coinflip

In the early days, we did not have coinflip as an alternative. However, as the industry grew, more games were presented to us.

The math behind coinflip is really simple. You are betting on a 50/50 outcome. No ifs and buts. If you are luckier, you will win. A lot of skins were circulating through coinflip as there was barely any rake that the sites took.

On top of that, no one liked to play against the machine as everyone preferred that player vs player option

What About Dota 2 Skin Betting?

Valve is the driving force behind both CS:GO and Dota 2, so it comes as no surprise that skin betting is popular among the MOBA fans too. Skins will drop randomly if players perform well in matches and they help champions stand out from the crowd. While they only have a purely cosmetic effect, they are sought after by veteran players and many are willing to pay good money. One alternative would be to purchase them from the Steam Community Market, but many fancy the idea of skins betting.

The system is virtually identical at the bookmakers offering CS:GO and Dota 2 skins betting options. Players gamble their own portfolio of skins, so they risk cosmetic items for the chance to win different ones. The manner in which bets are placed doesn’t differ one bit from traditional esports betting, but instead of venturing real money, one only risks skins. These can be sold to other players, so there is a way of making a profit, especially with some bookmakers allowing you to convert the items into money.

How to bet on Dota 2 Skins?

Skin betting bears many similarities to traditional gambling, and the only thing that differs is the underlying asset. You bet skins instead of money, but they still an indissoluble link between the potential rewards and the size of the odds. The riskier the bet, the better the odds, so players need to walk the thin line between risk and reward. You’ll still need to set up an account at a bookmaker that accepts skin betting and then connect your Steam account to it.

The process is straightforward, as you need to choose the match and a market to place your bet. The bookie will provide you with a trade that you must accept, which indicates that you are willing to confirm the transfer of skins. Depending on the outcome, you can win the skins that you are aiming for, or lose the ones used as collateral. Research goes a long way regardless of what you are staking, so in order to make Dota 2 betting successful you need to stay up-to-date with the latest results, team form and roster changes.

Why was there a CS:GO skin gambling scandal?

For anybody who is serious about CSGO betting, legal considerations will always play an important role. And whilst the best esports betting sites are always fully licensed and regulated by legitimate gambling bodies, it seems that many skin gambling enterprises are completely unregulated.

As a result, it was only a matter of time before controversy clouded skin gambling. In 2016 it was revealed that two famous YouTubers had secretly created a CSGO skin gambling site that they then pretended to win large amounts of money on to their audiences.

Such morally dubious activity was compounded by the exploits of the CSGO team, iBUYPOWER, who were revealed to have intentionally lost their match in order to win thousands of dollars of CSGO skins.

In addition to this, it’s thought that skin gambling provides an easy gateway for those under the legal age to gamble to get into online betting. As many of the third-party websites allow youngsters to gamble skins on virtual slot machines without any thorough verification processes, it’s evident that the phenomenon has seriously harmed the reputation of CSGO.

Downsides to being a CS GO skin gambler

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Despite the legal confusion and moral outcry surrounding skin gambling, it’s clear that there are still many people out there who enjoy being a CS GO skin gambler. But here are a few things to consider before you try skin gambling.

No licensing or regulation

If you use an unregulated skin gambling website, then you are essentially giving your virtual money to a company who cannot be completely trusted. Not only is there no independent testing of their gambling entertainments to see if they are transparent and fair, but you have no way of getting your skins back if something goes wrong.

Skin gambling boosts match-fixing

We have seen plenty of stories of CSGO players and teams profiting from the sales of skins. But whilst there is nothing wrong with our favorite CSGO gamers getting rewarded for their hard work, it will continue to make the issue of match-fixing something that’s a real problem for this iconic esports title.

Judging the value of skins

Whilst we all know how much money we are betting with when we place a CSGO bet with a pound, a dollar or a euro, it’s not so simple when you are wagering with virtual items like knives and guns. This makes it virtually impossible to formulate any of the best CSGO betting strategies and it’s a surefire way to incur some nasty losses.

CSGO betting – legal alternatives to skin gambling

Thankfully, just because skin gambling is risky doesn’t mean that you will miss out on betting on CSGO, as there are plenty of reputable and fully licensed CSGO betting sites that offer you safe and secure ways of betting on your favourite first-person shooter.

Using credit cards and debit cards

The majority of CSGO betting websites allow you to use credit and debit cards like Visa, MasterCard, Maestro and Visa Electron to make deposits and withdrawals. Not only is this one of the safest ways to use real money for your wagering, but most CSGO betting bonuses will only be activated if credit and debit cards are used to make your qualifying deposits.

E-wallets – easy and convenient payment options

There’s a growing trend for CSGO betting fans using e-wallets like PayPal, Neteller and Skrill for their CSGO betting. This method offers you the safety and security of keeping your betting budget separate from your bank account. Be aware that you might not be able to use e-wallets for making qualifying deposits for your CSGO bonus offers.

Prepaid cards – safe and secure

Prepaid cards like Paysafecard are another increasingly popular way of making deposits at CSGO betting sites.

These can be bought with a set amount that you can use to spend online, and they give you a safe way to manage your betting budget, and will stop you going over your limits.

Bitcoin betting – increasingly popular

We’ve also seen a handful of CSGO betting sites like GG.bet and Arcanebet allowing customers to use Bitcoin for wagering on CSGO. It remains to be seen whether Bitcoin betting will take off, but it once again shows that there are plenty of safer ways to bet on CSGO than getting involved with skin gambling.

 

Concluding thoughts on CSGO skin gambling

There is no denying that skin gambling is one of the more alarming developments in CSGO betting. Whilst it’s an activity that’s enjoyed by thousands of people, it’s clear that it is very risky.

Not only are the majority of skin gambling sites completely unregulated, but it also poses many troubling questions around issues like match fixing and underage gambling.

As a result, we’ve seen many efforts made to try and stamp out the skin gambling phenomenon. And with the rise of legitimate and licensed CSGO betting sites, it looks like we can all enjoy some risk-free CSGO bets in the future.