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House of Lords Calls For Crackdown on Loot Boxes
#1
https://techreport.com/news/3471638/hous...egulation/
Quote:With this information in mind, many countries have already or are in the process of examining changing policies regarding loot boxes. The UK’s House of Lords just announced that thy support treating loot boxes as gambling and implementing regulatory changes immediately.

Dr. David Zendle, an expert who spoke to the panel, said that there is an “extraordinarily robust” link between problem gambling and loot boxes. He didn’t claim a casual link, but stated there is a link nonetheless. According to Paul Slovic, Ph.D. & President of Decision Research, human brains make quick assessments of odds, but the amygdala, our emotional centre, can cloud our ability to rationally assess probability. Children and youth’s cerebral cortex, the logical part of the brain, is under developed, and their amygdala’s aren’t entirely stable yet. This is a double whammy for making bad decisions, even if they meaningfully understand what odds represent.

The Lords say they should be classified as “games of chance” – which would bring them under the Gambling Act 2005.

The report states “If a product looks like gambling and feels like gambling, it should be regulated as gambling” and that “The government must act immediately to bring loot boxes within the remit of gambling legislation and regulation”.

They also state that the regulations they desire “could be enacted today” as they don’t require legislation.

They also raise the risk of eSports betting and the risk it presents to youth.
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