Some children have discovered a way to monetize their love for video games, but this pursuit comes with significant risks, including substantial financial losses. They engage in betting on popular games like “Fortnite” and “Call of Duty” through online platforms that facilitate video game wagering, where age restrictions are often loosely enforced.
Growing Trend Amid the Pandemic
Video game wagering platforms have experienced a surge in popularity during the pandemic, offering gamers the opportunity to bet small amounts, ranging from $1 to $500, on matches against strangers. Venture capitalists have shown increasing interest in these platforms, fueling their growth in recent years. However, concerns have arisen regarding the accessibility of these platforms to underage users and the potential development of gambling habits among children.
Concerns Raised by Experts
Attorney Ryan Morrison, based in New York and representing various stakeholders in the video game industry, has encountered cases where children and their parents grapple with substantial losses incurred through video game wagering. Some individuals have reported losing hundreds or even thousands of dollars, prompting fears among both children and parents about the consequences of such activities.
Inconsistent Age Verification
An investigation by Business Insider into four prominent video game wagering platforms — Players’ Lounge, Play One Up, UMG, and CMG — revealed inconsistencies in age verification processes. While all platforms require users to confirm they are at least 18 years old upon signup, the methods for verifying age vary.
Varied Verification Approaches
Players’ Lounge employs a relatively stringent verification process, including requesting users to submit selfies with identification documents at different stages. However, former employees suggest that this approach may not be foolproof. On the other hand, UMG provides instructions on its website for users to withdraw winnings, a practice that the company intends to revise following criticism.
Response from Platforms
Representatives from Players’ Lounge and UMG emphasize their commitment to age verification procedures. However, Play One Up declined to comment on the matter, while CMG did not respond to inquiries.
As concerns mount regarding the potential risks associated with video game wagering among children, stakeholders must address the loopholes in age verification processes and take proactive measures to safeguard underage users from engaging in gambling activities.
