Valve has just announced a drastic change to its refund policy on Steam downloads, but don't worry -  it's a good change. The kind you and your click-happy little kid will appreciate.

Effective immediately, Steam will give a full refund on any game for any reason, as long as you've owned the game less than two weeks and haven't played it for more than two hours. If you've purchased funds for your Steam Wallet, Steam will refund you, subject to the same 14-day window. For bundles, you can get the same full refund — but only if your combined playtime doesn't exceed two hours.

For in-game purchases, Steam will refund you within 48 hours, but that's only for Valve's games. If you've already used, modded or gifted your in-game purchase to another gamer, you won't get a refund.

What about preorders? Steam says it will give you a full refund at any time during the preorder window. However, if you got your game as a gift from another Steam user, sorry — no refund for you.

Valve's new refund policy comes with a couple of caveats.

First, if you've been banned by Valve due to cheating, don't bother asking for your money back for pretty much anything. Steam doesn't offer refunds to cheaters.

Second, if you abuse the system, Valve will revoke your right to be refunded. So, don't get crazy.

Valve notes, however, that one particular conundrum occasionally faced by consumers is a thing of the past. Who doesn't hate to buy something at a full price and then find out it went on sale the next day? That's just the worst. Happily, Valve says you can get a refund on a title that was bought right before a sale took effect, if your intention is to rebuy it immediately at the sale price.

"If it appears to us that you are abusing refunds, we may stop offering them to you. We do not consider it abuse to request a refund on a title that was purchased just before a sale and then immediately rebuying that title for the sale price."

So, rejoice, dear gamer. This is very good news.

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