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Karl Slatoff from Take-Two Claims Loot Boxes Are Not Form of Gambling


Recently, loot boxes have been in the spotlight of a controversial debate whether or not they should be classified as gambling. A number of Governments and regulatory authorities worldwide have revealed that they are to take the matter into consideration. Others, such as Belgium, have already categorized them as gambling and urged other European countries to take measures and ban loot boxes.
Of course, not everyone thinks loot boxes are form of gambling activity. Speaking at the Credit Suisse 21st Annual Technology, Media & Telecom Conference, the president of the American multinational video games and video game peripherals’ publisher and distributor Take-Two, Karl Slatoff, shared that he does not think loot boxes could be described as gambling.
This statement is not surprising, provided the fact that it comes only a week after the one of the Entertainment Software Association, the lobbying group which represents large companies such as Microsoft, Nintendo and Take-Two. The opponents of loot boxes who consider the latter a form of gambling have taken these statements as harsh rejection of public concerns shared by many Government officials in a number of countries, including Belgiumthe UK and the US, since authorities there have been concerned with the possible dangers of fraudulent loot box schemes.
It remains unknown whether or not will authorities agree with the explanation given by Mr. Slatoff, but the truth is that loot boxes and other micro-transactions are some of the most popular and preferred ways for gaming content publishers and developers to make money.

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