Skin Betting (also known as Skin Gambling), was only known to us in the world of online game consoles on PCs. However, as time goes by, it is rumored that Skin Betting will begin to penetrate into the world of game consoles on devices made by Sony. Yes, Skin Betting looks like it will be one of the newest features on the Playstation.
This is based on Sony’s plans to issue patents for their new system. Later this system will facilitate Skin Betting facilities on Sony’s various video game consoles.
Learning from the Skin Betting mechanism that already exists in the world of online gaming consoles on PCs today, Sony has also designed it in such a way that Skin Betting can integrate with various other third-party platforms. Despite the logical assumption that this system patent was designed for the PlayStation 5, the patent explicitly opens up the possibility of leveraging “a game console made by Microsoft or Nintendo or other manufacturer of virtual reality headsets, augmented reality headsets” and more.
With this system, gamers will be able to use various in-game overlays to bet on ongoing esports events. Just like the betting mechanisms that already exist today, these bets will associate multiple currencies, from cash and cryptocurrency to items or skins in the game itself.
How does Skin Betting work itself?
Skin Betting is a betting system that does not use currency but uses in-game items or skins to be traded and staked as currency. Usually done through a third-party site or platform that can automate transactions in the game.
However, it is still not known when the implementation of the system will begin. In fact, there is still a question whether the system will actually materialize. Not a few of the company’s projects ended in failure even though the patent was filed. Sometimes the idea is not necessarily approved by the majority of the game lovers’ paradigm itself.
One thing that Sony needs to pay attention to is that Valve, as the party that has previously hosted the Skin Betting, actually gets a lot of legal problems due to the implementation of these bets. Bloomberg, dubbed one of the most influential business magazines, published an article entitled: ‘Virtual Weapons Are Turning Teen Gamers Into Serious Gamblers’. The article discusses cases of underage gambling, fraud, the relationship between third party sites, and Valve as a game developer. If you don’t want it to end the same, Sony must be ready to anticipate this.
But anyway, you can imagine how much profit Sony will reap if this system is successfully realized? Earlier this year, Sony had mastered the Evo Championship Series which incidentally is one of the biggest gaming tournaments in the world. You can imagine if Sony as the tournament organizer, at the same time also opened the opportunity to carry out this Skin Betting action.