Post: What happened to CS:GO skin prices after Valve's gambling ban?
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07-16-2016, 05:02 AM
#1
TheMightyMoJo
Rookie
websites that use Steam’s trading system. “Using the OpenID API and
making the same web calls as Steam users to run a gambling business is
not allowed by our API nor our user agreements,” wrote Valve’s Erik
Johnson.*The announcement was a surprise. Although scrutiny of CS:GO gambling peaked as it was revealed that two of the world’s most popular gaming YouTubers had created a
CS:GO skin gambling website and quietly promoted it to their audiences,
some of these services have existed for three years. Other than a match fixing scandal in 2015 this was the first time that Valve has addressed them.The drop in price seems reactionary, a reflection of some sellers’ fear that the market would implode.Valve’s announcement implied that Steam users should retrieve item skins from
gambling websites, and some members of the community began to wonder:
would Valve’s action trigger a crash of CS:GO’s skin market?
Some Steam users own hundreds of thousands of dollars worth of CS:GO skins. How would their fortunes, and the inventory value
of CS:GO’s other 10 million active players, be affected by this
announcement?
Not much. Although there isn’t an index number that reflects the value of
the CS:GO item market as a whole, sales data for individual weapons tend
to show an initial reaction to the news, followed by normalization.*Valve’s announcement went out via email just before 1 PM Pacific on June 13. I
sampled a set of 20 arbitrary, higher-volume skins on the market, and
found that they fell an average of 13.7% that evening. A Minimum Wear AWP BOOM skin, for example, dropped from $21.75 to $18.56 12 hours after the announcement.*The drop in price seems reactionary, a reflection of some sellers’ fear
that the market would implode.
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Although the correction was very uniform
across the items I sampled, most items have not continued to drop in
value, and many have risen back to their pre-announcement price. More
adjustments can probably be expected as gambling websites close or alter
how they operate, but my belief is that these items will retain most of
their value as long as CS:GO remains one of the most-played and
most-spectated games in the world.
08-01-2016, 04:36 PM
#2
Silver_SR71
I am error
Originally posted by TheMightyMoJo
On Wednesday Valve announced it would begin sending requests to cease operations to gambling
websites that use Steam’s trading system. “Using the OpenID API and
making the same web calls as Steam users to run a gambling business is
not allowed by our API nor our user agreements,” wrote Valve’s Erik
Johnson.*The announcement was a surprise. Although scrutiny of CS:GO gambling peaked as it was revealed that two of the world’s most popular gaming YouTubers had created a
CS:GO skin gambling website and quietly promoted it to their audiences,
some of these services have existed for three years. Other than a match fixing scandal in 2015 this was the first time that Valve has addressed them.The drop in price seems reactionary, a reflection of some sellers’ fear that the market would implode.Valve’s announcement implied that Steam users should retrieve item skins from
gambling websites, and some members of the community began to wonder:
would Valve’s action trigger a crash of CS:GO’s skin market?
Some Steam users own hundreds of thousands of dollars worth of CS:GO skins. How would their fortunes, and the inventory value
of CS:GO’s other 10 million active players, be affected by this
announcement?
Not much. Although there isn’t an index number that reflects the value of
the CS:GO item market as a whole, sales data for individual weapons tend
to show an initial reaction to the news, followed by normalization.*Valve’s announcement went out via email just before 1 PM Pacific on June 13. I
sampled a set of 20 arbitrary, higher-volume skins on the market, and
found that they fell an average of 13.7% that evening. A Minimum Wear AWP BOOM skin, for example, dropped from $21.75 to $18.56 12 hours after the announcement.*The drop in price seems reactionary, a reflection of some sellers’ fear
that the market would implode.
You must login or register to view this content.
You must login or register to view this content.
Although the correction was very uniform
across the items I sampled, most items have not continued to drop in
value, and many have risen back to their pre-announcement price. More
adjustments can probably be expected as gambling websites close or alter
how they operate, but my belief is that these items will retain most of
their value as long as CS:GO remains one of the most-played and
most-spectated games in the world.
websites that use Steam’s trading system. “Using the OpenID API and
making the same web calls as Steam users to run a gambling business is
not allowed by our API nor our user agreements,” wrote Valve’s Erik
Johnson.*The announcement was a surprise. Although scrutiny of CS:GO gambling peaked as it was revealed that two of the world’s most popular gaming YouTubers had created a
CS:GO skin gambling website and quietly promoted it to their audiences,
some of these services have existed for three years. Other than a match fixing scandal in 2015 this was the first time that Valve has addressed them.The drop in price seems reactionary, a reflection of some sellers’ fear that the market would implode.Valve’s announcement implied that Steam users should retrieve item skins from
gambling websites, and some members of the community began to wonder:
would Valve’s action trigger a crash of CS:GO’s skin market?
Some Steam users own hundreds of thousands of dollars worth of CS:GO skins. How would their fortunes, and the inventory value
of CS:GO’s other 10 million active players, be affected by this
announcement?
Not much. Although there isn’t an index number that reflects the value of
the CS:GO item market as a whole, sales data for individual weapons tend
to show an initial reaction to the news, followed by normalization.*Valve’s announcement went out via email just before 1 PM Pacific on June 13. I
sampled a set of 20 arbitrary, higher-volume skins on the market, and
found that they fell an average of 13.7% that evening. A Minimum Wear AWP BOOM skin, for example, dropped from $21.75 to $18.56 12 hours after the announcement.*The drop in price seems reactionary, a reflection of some sellers’ fear
that the market would implode.
You must login or register to view this content.
You must login or register to view this content.
Although the correction was very uniform
across the items I sampled, most items have not continued to drop in
value, and many have risen back to their pre-announcement price. More
adjustments can probably be expected as gambling websites close or alter
how they operate, but my belief is that these items will retain most of
their value as long as CS:GO remains one of the most-played and
most-spectated games in the world.
I am not going to read all of that nor is anyone who visits this thread. Hope that answered your question.
The following 2 users groaned at Silver_SR71 for this awful post:
08-04-2016, 05:05 PM
#3
Gay For Satan
DevouringHeavens
08-04-2016, 07:47 PM
#4
Silver_SR71
I am error
Originally posted by Gay
You must have the reading skills of a 6 year old if you can't skim through that quickly. Way to bump the thread :y:
Sidenote, Good reportin' Mojo.
Sidenote, Good reportin' Mojo.
Did I say,"I do have the ability to read," no I is not. I simply did not want to read it, and I can guarantee no one else would either. Neck yourself.
08-05-2016, 01:43 AM
#6
Silver_SR71
I am error
08-07-2016, 05:49 PM
#7
Gay For Satan
DevouringHeavens
Originally posted by SR71
Did I say,"I do have the ability to read," no I is not. I simply did not want to read it, and I can guarantee no one else would either. Neck yourself.
Well you should probably read what you just typed, cause you completely are contradicting yourself. You just said "Did I say,"I do have the ability to read," no I is not."
Clearly you can't read..
08-08-2016, 05:25 AM
#8
TheMightyMoJo
Rookie
08-08-2016, 03:46 PM
#9
Silver_SR71
I am error
08-08-2016, 07:20 PM
#10
Silver_SR71
I am error
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