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CSGOlounge is an online platform, where you can trade with other players using items from your Steam inventory and place bets on favorite CSGOmatches using virtual currency.
There are 2 ways to register on the CSGOlounge's website. The first one is to log in to csgolounge. The second way is to fill out a registration form.
In the summer of CSGOLounge company announced that it will no longer be a betting platform for punters from countries that prohibit esports betting.
With this decision, the site admitted that skins betting actually classifies as betting. Furthermore, the company also announced its plans to register as a legitimate esports betting site , where punters would be able to deposit and wager real money on CSGO and other esports tournaments.
This decision of CSGOLounge followed the report issued by Valve earlier that summer in which the company pledged to stop skin betting.
Valve finally admitted that skins betting is not regulated and urged all third-party websites to stop using its API for providing betting purposes, claiming that all those who continue to do so are violating the terms of service.
This U-turn by Valve confused many of the third party websites that offered skin betting, but most of them chose to comply with the recommendations, fearing legal consequences.
Despite the fact that CSGOLounge initially decided to limit skins betting and prevent only punters from certain countries from engaging in skin betting, only two weeks later CSGOLounge issued another statement.
The new statement declared that the company ceases to offer skins betting to all customers with immediate effect.
Most punters were quite surprised the decision and there have been suggestions that this was a result of increased pressure from Valve.
The same operator owned another skin betting website called Dota2Lounge which offered similar services to Dota 2 fans, and that site was also closed on the same date.
Many argue that this was the effective end of skins betting as CSGOLounge was by far the most popular skin betting site. Association with match rigging and the fact that there were no strict age controls seem to have made a negative impact on skin betting which caused the closure of the most popular websites.
There are still sites which offer skins betting, but it has to be said that its popularity has definitely decreased. A return of skin betting cannot be ruled out, but it is clear that if skin betting is to become popular again, the authorities will certainly take measures beforehand and the market will be regulated.
This is how you create a bet in CSGO Lounge Bets Click on the match you want to bet on In the top right corner of a match you will find the start time for when it starts Click on the team for which your bet is to be counted In contrast to the exchange from CSGO Lounge, you have to leave your Steam Trade URL when betting Choose your commitment and your team wisely and wait until the evaluations are received.
Games available. It functions just like normal betting, but instead of regular or crypto-currency, punters use in-game items. There were many other third-party sites which allowed players to wager their items, not only on esports bets but also on slots and other types of fixed-odds casino-style games.
However, there is a catch. Namely, the items skins have a real money value and they can be bought and sold. As a result, people could lose items worth thousands of dollars.
Not only were the skins betting websites operating in a grey area, there was also another problem. Many of the CSGO teams were affiliated with some of the item trading websites, including CSGOLounge and often, teams received direct payments from purchases, especially since some of the stickers represent teams and players.
These stickers can be used for betting, which means that the teams are directly linked to betting on events in which they participate.
It was pretty clear that this could have an impact on the game. In players had to be banned, because it was proven that they participated in match rigging.
Namely, players wagered against their opponents using a third-party skin betting site and then lost the match on purpose.
Following the banning of the players, Valve issued a statement in which it was stated that CSGO players, managers and other team staff should not, under any circumstances engage in skin betting, or even be associated with high volume punters.
You can read more about skins, betting with it and other problems in our dedicated page on skins betting. CSGOLounge was, at the time, probably the largest skins betting site and a representative of the site publicly stated that Valve has even provided technical support for their operations.
Another incident soon followed.