The problem is that it doesn't matter if you can't cash out if the items in the system hold real value in the eyes of the user. The system operates in the same manner as real gambling, they put money in, and get a variable amount of value out. In this instance it doesn't matter if you can't cash out because the user perceives the items in the system as having monetary value (otherwise, they wouldn't put money in to attain them).
It's very likely that this is operating in the same manner as typical gambling within players who spend a lot of money on the system, and if so, it should be treated in the same way.
Seems like a good avenue of research also. Would be good to see if lootboxes are the same as gambling at a cognitive and neurological level.
If you have some time, read about the Skinner box (especially commercial applications)
https://en.m.wikipedia.org/wiki/Operant_conditioning_chamber
Also
http://www.pcgamer.com/behind-the-addictive-psychology-and-seductive-art-of-loot-boxes/
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