A team of gambling regulators from fifteen European nations and one USA state have signed on to "work together to address the risks created by the blurring of lines between gaming and gambling" according to the UK's Gambling Commission.
However, some third-party sites let players buy and sell items such as Counter-Strike: Global Offensive skins and Ultimate Team players in Federation Internationale de Football Association 18.
"We have joined forces to call on video games companies to address the clear public concern around the risks gambling and some video games can pose to children".
Based on that, the committee suggests that "loot boxes act as a gateway to problem gambling amongst gamers", saying that there's a "serious risk" for loot boxes to lead to "gambling-related harm".
This agreement marks the first worldwide attempt in regards to the illegal gambling controversy in video games. "Concerns in this area have manifested themselves in controversies relating to skin betting, loot boxes, social casino gaming and the use of gambling themed content within video games available to children". -In addition to the above, this would seemingly apply to games with poker or slot-machine-style minigames (or, uh, Casino Kid for the NES).
"We commit ourselves today to working together to thoroughly analyse the characteristics of video games and social gaming", reads the declaration. The declaration also notes that there are different frameworks for gambling regulation in different countries.
According to a statement from the UK Gambling Commission the agreement will primarily tackle unlicensed third party websites offering illegal gambling linked to video games - many of which have been created by prominent YouTubers for games such as Counter-Strike: Global Offensive and FIFA Ultimate Team.
The declaration is notable for its worldwide reach, encompassing European countries with a population of greater than 278 million people or about 54 percent of the entire European Union population.
As far as the United Kingdom agency is concerned, loot boxes aren't considered a form of gambling as long as you can't exchange the virtual goods you receive for real money.
The commission came together after regulators identified "a number of common principles including the need for gambling to be regulated to ensure high standards of integrity, fairness and consumer protection, in particular in relation to children".