Paid reward systems such as loot boxes have changed the landscape of video games. In this study, the researchers examined children’s experiences and views of loot boxes. Over 100 hours of video ethnographic fieldwork with 42 families were documented. The researchers found that children expressed strong likes and dislikes for loot boxes, recognizing the nuances of such reward systems and the addictive potential of loot boxes. This work enhances the understanding of the role of loot boxes in digital childhoods. It shows that gambling-like systems in video games must be understood within children’s social and spatial experiences, including how such systems have become part of popular cultural trends.