TL;DR
- FaZe Clan owner Ricky Banks admitted running a secret CSGO skin gambling operation from a Caribbean island
- The operation generated approximately $200,000 daily to fund a $1 million roster acquisition
- Banks paid $100,000 for permits and established armed security at their estate
- The site was likely CSGOWild despite previous ownership denials from the company
- Regulatory action by Washington State Gambling Commission ended most skin betting in 2016
In a startling revelation on the BADNWZ podcast, FaZe Clan founder Ricky Banks disclosed that key members of the prominent esports organization secretly operated a Counter-Strike: Global Offensive skin gambling platform. This admission sheds new light on the controversial funding sources behind major esports acquisitions during the mid-2010s.
During the period leading up to 2016, FaZe Clan identified a strategic opportunity to acquire a premium CSGO competitive roster, though Banks indicated the $1 million price tag exceeded their available capital at that moment. He explained to podcast listeners that he recognized the team’s potential valuation would skyrocket to approximately $5 million within six months, creating urgent pressure to secure financing through alternative channels.
The complete roster of participants in this venture remains ambiguous, though Banks confirmed he collaborated with several FaZe Clan associates to purchase a Caribbean island property specifically for operating what they claimed was a “legally permitted” skin gambling website. According to his account, they arranged private air transport to the location and disbursed $100,000 directly to what he described as “the individual governing the territory” to obtain necessary operational authorizations.
“We acquired this extensive property complex, employed armed security personnel… the entire setup was absolutely insane,” Banks recounted during the interview. This approach highlights how esports organizations navigated regulatory gray areas by establishing operations in jurisdictions with more permissive gambling frameworks.
For a significant duration, Banks asserted that he and his partners generated roughly $200,000 in daily revenue through their unnamed CSGO skin gambling platform, which has subsequently ceased operations. “We operated as the exclusive legitimate operators,” Banks declared. “The revenue streams were absolutely phenomenal.”
The gaming community has rapidly begun theorizing about which specific skin gambling platform they controlled. Substantial evidence points toward CSGOWild, given FaZe Clan’s frequent promotional content featuring that particular website. Crucially, they never revealed their ownership stake, while CSGOWild explicitly denied any organizational involvement back in 2016.
“To clarify definitively, FaZe Clan and its affiliated members neither currently own nor have ever held ownership interests in Wild,” the company’s official statement asserted. “Team Wild Inc., operating as CSGOWild, remains exclusively owned by myself and my sibling, Zach.”
Owner of FaZe Clan and only FaZe Clan. No matter what rumors you hear.
— NORDAN ⛈ (@FaZe_Rain) July 18, 2016
During that historical period, CSGO skin gambling emerged as a substantial controversy within gaming circles. While certain enterprises maintained legal compliance, numerous platforms engaged in fraudulent activities or concealed questionable operational practices. This encompassed one of the most notorious incidents, where content creators Trevor “TmarTn” Martin and Tom “ProSyndicate” Cassell published videos of themselves achieving significant wins on CSGO Lotto without disclosing their ownership positions.
Several months afterward, regulatory intervention from the Washington State Gambling Commission compelled Valve Corporation to implement measures restricting skin betting operations. Valve responded by deactivating numerous technical tools that facilitated these platforms’ functionality. The majority of CSGO skin gambling activity concluded by the end of 2016.
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Action Checklist
- Research jurisdictional gambling regulations before participating in any skin trading platforms
- Verify ownership transparency and disclosure practices of gambling sites
- Document all skin transactions and maintain records for dispute resolution
- Understand the historical context of 2016 skin gambling controversies
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