Banks confirms FaZe Clan funded CSGO team via skin gambling website - Dexerto
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Banks confirms FaZe Clan funded CSGO team via skin gambling website

Published: 11/May/2020 21:11 Updated: 11/May/2020 22:41

by Alan Bernal

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FaZe Clan owner Ricky Banks revealed on May 10 that the organization had created a skin gambling site and used its lucrative success to initially fund the club’s CSGO team, as originally reported by Esports Talk.

Wanting to expand into Counter-Strike, but without the cash to properly fund the team they had their sights on, Banks enrolled FaZe Clan into a project with other collaborators with the goal of creating an alternative form of CSGO skin gambling.

“It was kind of like a grey area, because it’s a skin and there’s no actual value to it, and the government puts absolutely no value to it,” Banks said on an episode of the ‘BADNWZ’ podcast. “We came up with this idea, with these kids, for a different way to do it. We branded it the right way.”

Dreamhack
FaZe Clan jumped into CSGO in 2016 after buying the G2.Kinguin lineup.

Banks found his cash cow to get FaZe the funding they needed to buy their CSGO team in 2016. He claimed that the gambling site was their way to “finesse” the major purchase as quickly as possible to get the most value out of the transaction.

After finding their reliable income from CSGO skin gambling, FaZe were raking in about $200,000 a day from their novel business model.

According to the exec, this was all done by the books. Banks and his partners flew to Antigua in the Caribbeans, where they faced less stringent regulations for creating a gambling site, allowing them to lawfully navigate their operation.

“We were making $200,000 a day,” Banks explained. “We set it up on Antigua, it’s an island in the Caribbean where running a gambling website is completely legal if you have the permits to do it.”

Banks paid “the guy who runs the island” $100,000 to acquire the documentation they needed to be “the only ones who were doing it legitimate” before skin gambling was regulated.

FaZe maintained the skin gambling site for a few months before shutting it down. The offshore company had raked in enough cash for the org to successfully fund their CSGO venture.

ELEAGUE
Since joining CSGO esports, FaZe have signed various top-tier talents throughout many iterations of their lineup.

Valve has since been strict around their CSGO cosmetics in response to the cascading governance in the skin gambling industry.

It was around this time in the mid-2010s where worldwide governments were taking aim at skin gambling. In 2015, these casino-style gambling sites for skins generated nearly $3 billion, according to findings from gaming research firm Eilers and Krejcik Gaming and Narus Advisors.

Business

BLAST announce Nubia mobile esports promotion at Premier Fall Series

Published: 23/Oct/2020 11:23

by Adam Fitch

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Counter-Strike tournament series BLAST Premier has named Nubia Technology as its very first mobile phone partner.

Nubia’s gaming phone, the RedMagic 5S, will be advertised during the BLAST Premier Fall Series starting on October 26.

Not only will Nubia’s phone be shown through in-game branding, the technology company will host giveaways where fans can win their own RedMagic 5S and behind-the-scenes access to the tournament.

On-screen talent like Anders and Semmler will also get their hands on the phone.

BLAST Premier Fall Series with S1mple
BLAST
The event will be played online but features teams from both Europe and North America.

While this partnership doesn’t include a mobile esports tournament it’s clear that BLAST are willing to embrace and encourage mobile gaming, which could be a sign of things to come in the future. They have been expanding their reach into new games in 2020, including Valorant and Dota 2, so perhaps a mobile title could be next.

“We are excited to showcase Nubia’s impressive RedMagic 5S gaming phone to the esports ecosystem via our global audience,” said Leo Matlock, BLAST’s commercial director. “This partnership is a strong fit with both brands sharing a major focus on innovation, technology and gaming – and with more and more people gaming and watching BLAST Premier on their phones every day – their product should be something that naturally resonates with our fans.”

All 12 teams in the BLAST Premier Fall Series will play from Europe, making for one of the first international Counter-Strike competitions since the first quarter of 2020.

Nubia
The phone was designed with gaming in mind.

With events moving online in March due to the global health situation, Europe and American teams have typically been split up due to poor ping posing a threat to competitive integrity.

European sides Astralis, Natus Vincere, Ninjas in Pyjamas, G2 Esports, OG, Team Vitality, FaZe Clan, and BIG will face off against American teams Complexity, MIBR, Evil Geniuses, and FURIA at BLAST Premier.