Paying With Skins at Online Casinos

Skins have become almost like a virtual currency, and the possibility of using it for online payments is something that’s appealing to many. But is it possible, and can it be used to pay at online casinos? Let’s dive in and look at the possibilities.

What Are Skins, and How Can They Be Used for Payments?

Skins might be something many Aussies haven’t even heard of, but for others Skins are well-known. Whether you know what it is or not will likely depend on if you’re a gamer or not.

Skins are original items you can buy or get while playing certain computer games, like CS:GO or Dota2. The Skins are used to change the appearance of your character or in-game weapons, and there are both common and uncommon Skins. The uncommon ones can be worth thousands of dollars, and this explains why people often trade them. Some players want the uncommon Skins, so there is a large market where you can sell, buy or trade these skins.

If you have Skins, you can use the value of it to pay for other services. Some services will directly accept Skins as payment, while others will only take “real” currency. In such cases, you need to sell your Skins before you can use the funds to pay online

Selling Skins can be done using various websites made specifically for this purpose. Some of the most popular ones include SkinCashier, SkinSwap, CSGOSelly, and CashoutSkins.

Are There Online Casinos That Accept Skins as a Payment Method?

There aren’t many online casinos that accept Skins as a payment method, but skin gambling have been around for a while. You can use skins as a virtual currency to bet on events or on casino games. There are a few sites that focus on e-sports that do accept it. E-sports is, after all, the genre of sports that includes computer games, so it is its athletes and participants that have and use Skins. There are also a select few Australian casinos where you can use skins to gamble via SkinsBack as a payment option. You can pay with skins and use SkinsBack at Stay Casino in Australia.

However, one thing you need to be aware of is that various legal and regulatory actions have been taken to address the potential risks and ethical issues associated with skin trading and gambling in the gaming industry, so you have to be extra vigilant if you want to choose this deposit method in online casinos. Double check their licenses, since if you play at unlicensed gambling operators, you don’t have any protection from any gambling authority. This in turn means that you can’t be sure that games are fair, and that your rights as a player will be protected.

Can Skins Transfers Work Like Cryptocurrency at Online Casinos?

If Skins could be used as a payment method at online casinos, they work quite similarly to how crypto casinos work now. You could make transfers of what’s essentially digital currency without having to enter your personal banking details or add your credit cards to the casino site.

Most likely, we won’t be seeing Skins added as a payment method at many online casinos anytime soon because of the controversial regulatory space skins gambling is in.

Crypto wallets and exchanges have to abide by various financial regulations, and that also means verifying who their customers are. This is why you need to undergo a KYC verification when signing up, and this is something you do for security reasons. One major reason for this rule is anti-money laundering and funneling of money to terrorist organisations, but another one is age verification. The same level of security does not exist around Skins.

Why the Casino Industry Objects to Skins Payments

The main objection the casino industry has to allow Skins payments is the lack of oversight and regulation. Actually, it’s quite similar objections the gambling authorities have for cryptocurrency transactions through casinos.

However, the main difference is that many underage people deal with Skins since they play CG: GO and other games where Skins can be bought. And, the fear is that by allowing transactions with Skins at online casinos, more underage people will be drawn to gambling. This is a valid concern, and simply a risk the industry as a whole is not willing to take.

With stricter and stricter regulations in multiple gambling markets around the world, keeping underage gamblers out of the casinos is close to the number one priority. This is why it’s highly unlikely that we’ll see many regulatory authorities in the gambling industry allowing for Skins transactions anytime soon.

Advantages of Using Skins for Online Casino Transactions

If casinos would allow for Skins to be used as a payment method, it would bring about several advantages. Let’s look at some of the core ones:

1. Anonymity and Security

A Skin transaction would work more or less like a secure cryptocurrency payment. It would protect your personal and financial information, as you wouldn’t have to enter any payment details like card numbers at the casino. This security and privacy is something many players would enjoy.

2. International Payment Option

Since Skins is not connected to any one country, it would be a payment method that people from all over the world could use, much like cryptocurrency. Traditional payment methods like credit cards, bank transfers and e-wallet are often restricted to certain countries, and sometimes international transfers can be difficult. This could be avoided by using Skins to make your casino deposits and withdrawals.

3. Merging of Gaming and Gambling

Merging two interests, gaming and gambling, would be interesting to many players. If you buy or otherwise gain Skins while gaming, you could use those to deposit at a casino and win real money. By merging gaming and gambling it would also be possible to have the same community of online friends and acquaintances at the casino as when playing computer games.

Conclusion: Is Paying With Skins at Online Casinos a Viable Option?

There’s no doubt that it would be a market for casinos that accept Skins as a payment method.

The regulations regarding online casinos and money transfers are complex. Due to the lack of oversight of Skins, it’s highly unlikely that this will be a readily available payment option at many online casinos in the near future, at least if we look at casinos operating under a strict gambling license. Not least is the concern for underage players one of the reasons.

But, as we have explained in this article, you can trade Skins for money, and then use those funds to deposit at an online casino.