FaZe Clan owner Ricky Banks could not be in trouble with the authorities of the sport, once again after it has been revealed in a Podcast BADNWZ that he, along with other individuals, had built a skin play site for sports in the Caribbean and used all the funds raised to help pay for the CSGO team of FaZe Clan.
The problem with CSGO skin gaming is that certain locations have not been legally functioning in the past since the first days of the CSGO. First, it is not regulated on the market and the fact that no legislation has implemented protections to discourage minors from play skin while they are underage was of equal concern.
One of the biggest players in the CSGO Gambling world right now is CSGO Empire, which as of publication, hasn’t come under any scrutiny like CSGO Wild and other competitors.
Whether or not Mr. Banks’ site suggests in an interview that conditions are not immediately apparent, although in a questionnaire he states that the website is valid, there are CSGO betting websites where you can legally gamble the skins in a strictly controlled manner.
Mr. Banks explained in his podcast that skin betting was a “grey area” and that the reason behind the decision was that currently, the team wasn’t getting enough funding to support a CSGO team of the highest quality that Banks believed would cost them about a “million dollars.”
But it was how Mr. Banks explained how the business was formed that could lead him to more problems. After Antigua was confirmed as the location of the company since gambling venues are legal in the country, Banks flew with his team privately to the island and clarified that the process was; “…sat down with the gut who runs the country and basically paid him a hundred thousand dollars and he gave us the license.”
Mr. Banks also stated that the website had only been running for a couple of months before it was closed and that it earned about $200,000 a day for his transactions, which he claimed were completely legitimate.
While Mr. Banks didn’t confirm where it was being set up, many people think they know about the site in a Reddit debate and that it is a bit troublesome, it would seem that FaZe Clan players suggested this site to others to use CSGO Skins in their games.
Many figures in the past have landed because of this in hot water. In 2016, Trevor Martin (Tmartn) and Tom Cassel (Syndicate) both participated in controversy because they did not divulge a web site they were strongly promoting on their web site which allowed their skins to wager.
FaZe Clan Owner FaZe Rain released a statement in 2016 to refute rumors about the platform fans believed was named by Mr. Banks and its management, “not and never owned any part of the CSGO.”