Sales of loot boxes in Valve Corporation's Counter-Strike game nearly brought in $1 billion in revenue in 2023, setting a record. Players buying keys for boxes containing exclusive weapon skins caused this unexpected spike.
The keys to unlock the boxes with skins were purchased for almost $980 million, according to CS2 Case Tracker. Trading on the Steam market helped Valve as well. Despite a 178% price rise, a record 50 million cases of Counter-Strike 2 opened since its release in April, adding to the year's total of almost 400 million. New collections like Anubis and increased interest in Danger Zone cases fueled these numbers.
Gamers are investing substantial sums in the purchase of loot boxes, drawn by the allure of selling the rare content they contain on specialized markets. One player notably sold a limited-edition rifle skin from a game for over $500,000, with the buyer transferring the funds directly to the player's bank account.
Civil society groups have repeatedly accused Valve Corporation, the developer of Counter-Strike, of promoting gambling among minors. In 2016, Forbes reported that virtual weapons in the game were leading gamers towards gambling addiction. Parents of young users, who spent money on loot boxes hoping for rare content, have taken legal action against the company. However, in such disputes, judges have been siding with Valve, ruling that in-game items, even those purchased with real money, do not constitute gambling under U.S. law.
